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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 29, 2017
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) The unaudited quarterly financial data for the last two fiscal years was as follows (in thousands, except per share data):
| Quarter Ended
| December 31, |  | September 30, |  | June 30, |  | March 31,
2017: |  |  |  |  |  |  |
Total revenues | $ | 120,072 |  |  | $ | 152,510 |  |  | $ | 99,008 |  |  | $ | 80,887 |
Gross profit (1) | $ | 91,520 |  |  | $ | 91,758 |  |  | $ | 84,990 |  |  | $ | 65,674 |
Income from operations | $ | 37,431 |  |  | $ | 81,180 |  |  | $ | 27,113 |  |  | $ | 20,186 |
Net income | $ | 38,489 |  |  | $ | 81,382 |  |  | $ | 17,656 |  |  | $ | 16,700 |
Net income per share, basic | $ | 0.13 |  |  | $ | 0.28 |  |  | $ | 0.06 |  |  | $ | 0.06 |
Net income per share, diluted | $ | 0.12 |  |  | $ | 0.26 |  |  | $ | 0.06 |  |  | $ | 0.05 |
2016: |  |  |  |  |  |  |
Total revenues | $ | 77,581 |  |  | $ | 62,194 |  |  | $ | 36,252 |  |  | $ | 15,427 |
Gross profit (1) | $ | 50,064 |  |  | $ | 40,287 |  |  | $ | 30,058 |  |  | $ | 8,414 |
Income (loss) from operations | $ | 38,883 |  |  | $ | 7,264 |  |  | $ | (25,136 | ) |  | $ | (49,135 | )
Net income (loss) | $ | 35,123 |  |  | $ | (11,284 | ) |  | $ | (34,838 | ) |  | $ | (59,223 | )
Net income (loss) per share, basic | $ | 0.12 |  |  | $ | (0.04 | ) |  | $ | (0.15 | ) |  | $ | (0.26 | )
Net income (loss) per share, diluted | $ | 0.12 |  |  | $ | (0.04 | ) |  | $ | (0.15 | ) |  | $ | (0.26 | )
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(1) | Gross profit is computed as Net product revenues less Cost of goods sold.
In December 2016 Genentech stated that it changed, both retroactively and prospectively, the manner in which it allocates promotional expenses of the COTELLIC plus Zelboraf combination therapy. As a result of Genentech’s decision to change its cost allocation approach, we were relieved of our obligation to pay $18.7 million of disputed costs that had been accrued by us as of September 30, 2016; we were also able to invoice Genentech for certain expenses, with interest, that we had previously paid. Accordingly, during the quarter ended December 31, 2016, we offset Selling, general and administrative expenses for a $23.1 million recovery of net losses which had been recorded from 2013 through September 30, 2016, which included $9.8 million of losses that we had recognized and recorded during the three quarters ended September 30, 2016.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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