Fourth quarter 2017 revenue was up on higher shipments

Fourth quarter 2017 net income was $8.3 million on consolidated revenue of $1.23 billion versus net income of $47.2 million on consolidated revenue of $1.11 billion in the fourth quarter of 2016. Fourth quarter 2017 revenue was up on higher shipments. Net income and EPS were adversely impacted by a $53.1 million income tax charge related to the enactment of the 2017 Tax Cuts and Jobs Act and a $29.4 million pre tax charge for a voluntary product recall.Full year 2017 diluted EPS decreased to $3.02 from $3.83in 2016.

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