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Quarterly Results (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results of Operations | The following is a summary of the quarterly results of operations for the years ending December 31, 2016 and 2015:
| Quarter
| First |  | Second |  | Third |  | Fourth
| (in thousands, except per share data)
2016 |  |  |  |  |  |  |
Net sales | $ | 85,422 |  |  | $ | 102,319 |  |  | $ | 104,568 |  |  | $ | 91,668 |
Gross profit | 25,731 |  |  | 32,747 |  |  | 33,092 |  |  | 26,510 |
Net income | 10,806 |  | (1) | 14,341 |  | (1) | 15,682 |  |  | 11,420 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.20 |  | (1) | $ | 0.27 |  | (1) | $ | 0.30 |  |  | $ | 0.22 |
Diluted | $ | 0.20 |  | (1) | $ | 0.27 |  | (1) | $ | 0.29 |  |  | $ | 0.21 |
2015 |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 76,768 |  |  | $ | 90,275 |  |  | $ | 94,360 |  |  | $ | 97,229 |
Gross profit | 21,798 |  |  | 27,117 |  |  | 30,185 |  |  | 29,581 |
Net income | 8,399 |  |  | 11,130 |  |  | 13,251 |  |  | 12,948 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.16 |  |  | $ | 0.21 |  |  | $ | 0.24 |  |  | $ | 0.24 |
Diluted | $ | 0.15 |  |  | $ | 0.20 |  |  | $ | 0.24 |  |  | $ | 0.24 |
(1) As discussed in Notes 10 and 11, the Company early adopted ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, effective July 1, 2016. As a result, excess tax benefits and deficiencies are reported as an income tax benefit or expense on the statement of income rather than as a component of additional paid-in capital on the statement of equity. The ASU required the application of the modified retrospective transition method as of the beginning of the annual period in which the guidance was adopted. As a result, 2016 net income as reported above will be recast when we file our first and second quarters in 2017. Net income will increase by $0.8 million and $0.4 million, for the first and second quarters of 2016, respectively. Additionally, earnings per basic and diluted share will increase approximately $.01 and $.01, respectively, for each of the three months ended March 31, 2016 and June 30, 2016, respectively, versus what was reported above.

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 + Details
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