Net sales in the second quarter of 2009 decreased 7.0% to $553.2 million compared to $594.8 million reported for the second quarter of 2008. Net sales, without precious metal content, decreased 5.6% to $511.9 million in the second quarter of 2009. The change in net sales, excluding precious metal content, was driven by currency translation, which reduced sales by 6.1%, offset by 0.5% growth on a constant currency basis which includes acquisitions.
Net income in the second quarter of 2009 included the net of tax impact of restructuring and other costs of $2.2 million, a net of tax impact for recent acquisition-related activities of $0.5 million and a net charge for income tax-related adjustments of $0.2 million, which in aggregate reduced earnings per share on a net basis by less than $.02 per diluted share.
