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Quarterly Results of Operations (Unaudited) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results of Operations (Unaudited) | 15.QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) Quarterly data for the years ended December 31, 2019 and 2018 consisted of the following (in thousands, except per share amounts):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Quarter Ended
​ |  | March 31 |  | June 30 |  | September 30 |  | December 31
2019 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Net sales | ​ | $ | 238,349 | ​ | $ | 255,532 | ​ | $ | 243,049 | ​ | $ | 257,922
Gross profit | ​ |  | 104,636 | ​ |  | 111,964 | ​ |  | 104,136 | ​ |  | 111,630
Income (loss) from operations | ​ |  | 9,523 | ​ |  | 12,201 | ​ |  | (2,881) | ​ |  | (3,409)
Income tax expense (benefit) | ​ |  | 651 | ​ |  | 2,140 | ​ |  | (2,292) | ​ |  | (3,757)
Net income (loss) | ​ |  | 6,195 | ​ |  | 6,859 | ​ |  | (3,398) | ​ |  | (4,205)
Basic earnings (loss) per common share | ​ |  | 0.11 | ​ |  | 0.12 | ​ |  | (0.06) | ​ |  | (0.08)
Diluted earnings (loss) per common share | ​ |  | 0.11 | ​ |  | 0.12 | ​ |  | (0.06) | ​ |  | (0.08)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2018 | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Net sales | ​ | $ | 203,035 | ​ | $ | 224,810 | ​ | $ | 221,659 | ​ | $ | 233,249
Gross profit | ​ |  | 88,056 | ​ |  | 100,009 | ​ |  | 102,039 | ​ |  | 104,666
Income from operations | ​ |  | 8,781 | ​ |  | 15,114 | ​ |  | 21,061 | ​ |  | 13,661
Income tax expense | ​ |  | 1,090 | ​ |  | 624 | ​ |  | 2,766 | ​ |  | 3,022
Net income | ​ |  | 5,269 | ​ |  | 10,941 | ​ |  | 16,619 | ​ |  | 9,188
Basic earnings per common share | ​ |  | 0.10 | ​ |  | 0.22 | ​ |  | 0.31 | ​ |  | 0.17
Diluted earnings per common share | ​ |  | 0.10 | ​ |  | 0.21 | ​ |  | 0.30 | ​ |  | 0.16
​ As discussed in Note 1, an impairment charge of $20.5 was recorded in the three months ended December 31, 2019 due to our write-off of our NinePoint note receivable and purchase option, along with $1.6 million of accrued interest. Basic and diluted earnings per share are computed independently for each of the quarters presented. Therefore, the sum of the quarterly amounts may not equal the total computed for the year.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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