Other net sales increased by approximately 30 percent to $6.5 million for the first quarter of 2013 compared with the same quarter last year, primarily due to an increase in dimmable aircraft window net sales. Fire protection net sales were flat quarter over quarter, and continue to be impacted by the relatively weak commercial construction market.
The Company did not repurchase any shares in the first quarter of 2013, and four million shares remain authorized under the previously disclosed share repurchase plan ("the Plan"). Under the Plan, the Company may, from time to time, purchase additional shares of its common stock based on a number of factors, including market, economic and industry conditions; the market price of the Company's common stock; and other factors that the Company deems appropriate. The Plan does not have an expiration date, but is reviewed periodically by the Company's Board of Directors. Any repurchases will be funded with available cash.
The Company provided certain additional guidance for the second quarter of 2013.
For the second quarter of 2013, the Company estimates that net sales will be flat to down approximately five percent compared with the second quarter of 2012, based on IHS's April 2013 forecast for second quarter light vehicle production, which includes declines in the regions of Japan and Korea, and Europe, as well as the Company's 12-week customer order release schedule. Unstable macroeconomic factors continue to be a concern, particularly in Europe, as it remains the Company's largest shipping destination. Volatility in customer orders within the 12-week customer order release schedule, with some customers, including tier one mirror suppliers, revising orders, continues for the Company. Accurate forecasting in this environment remains very difficult.
Light vehicle production in North America in the second quarter of 2013 compared with the second quarter of 2012 is currently expected to increase by four percent, while production in the regions of Japan and Korea, and Europe are expected to decline by ten percent and three percent, respectively. The IHS forecast for second quarter 2013 production in the regions of Japan and Korea, and Europe again includes higher percentage decreases in mid-size luxury class vehicle models, which constitutes a primary market for the Company's products.
Based on the Company's expected net sales for the second quarter of 2013, the Company currently expects that its gross profit margin for the second quarter of 2013 will be in the same range as the gross profit margin of 34.7 percent reported in the first quarter of 2012 and 2013.
The Company currently expects Engineering, Research and Development expense to be down approximately 15 percent in the second quarter of 2013 compared with the second quarter last year, primarily due to reduced costs associated with outside contract engineering/development services. Additionally, Selling, General and Administrative expense is currently expected to be down approximately five to ten percent in the second quarter of 2013 compared with the second quarter of 2012, primarily due to reduced overseas office expenses. This forecast for Selling, General and Administrative expense in the second quarter of 2013 is based on stable foreign exchange rates.
The Company's forecasts for light vehicle production for each of the following periods in 2013 compared with the same periods in 2012 are based on IHS Automotive's April 2013 forecasts for light vehicle production in North America, Europe and Japan and Korea.
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