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Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Selected Quarterly Financial Data (Unaudited) [Abstract]

Selected Quarterly Financial Data (Unaudited)

Note 14, Selected Quarterly Financial Data (Unaudited):

The following is a summary of the unaudited quarterly results of operations for the years ended December 31, 2020 and 2019 (in thousands, except per share data):

	2020 Quarter Ended
	March 31		June 30		September 30		December 31
Net sales	$	179,432	$	109,968	$	217,513	$	241,339
Gross profit		99,553		59,646		122,177		137,619
Income before taxes		2,300		18,625		24,532		31,274
Net income		1,819		13,640		18,261		25,428
Basic net earnings per share:
Common		0.10		0.73		0.98		1.40
Class A Common		0.09		0.69		0.94		1.33
Diluted net earnings per share:
Common		0.09		0.72		0.97		1.37
Class A Common		0.09		0.69		0.93		1.35

During the quarter ended December 31, 2020, we recognized the benefit of state income tax credits that reduced income tax expense by $1.2 million.

	2019 Quarter Ended
	March 31		June 30		September 30		December 31
Net sales	$	187,242	$	191,893	$	209,320	$	213,837
Gross profit		103,083		103,557		112,019		115,830
Income before taxes		4,725		8,237		8,169		7,592
Net income		3,621		6,046		6,097		6,100
Basic net earnings per share:
Common		0.18		0.30		0.31		0.32
Class A Common		0.17		0.28		0.30		0.30
Diluted net earnings per share:
Common		0.17		0.29		0.31		0.31
Class A Common		0.17		0.27		0.30		0.30

During the quarter ended December 31, 2019, an impairment loss of $2.4 million related to a retail store was recorded. We recognized a deferred tax benefit related to leases that reduced income tax expense by $0.4 million in the quarter ended December 31, 2019.

Because of rounding the amounts will not necessarily add to the totals computed for the year. Also because of rounding and the use of the two-class method in calculating per share data, the quarterly per share data will not necessarily add to the annual totals.