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Selected Quarterly Financial Information (Unaudited) | 12 Months Ended
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Dec. 31, 2018
Selected Quarterly Financial Information (Unaudited) |
Selected Quarterly Financial Information (Unaudited) | Note 12. Selected Quarterly Financial Information (Unaudited)
|  | Three months ended |
|  | March 31, |  | June 30, |  | September 30, |  | December 31, |
(in thousands, except per share amounts) |  | 2018 |  | 2018 |  | 2018 |  | 2018 |
Net sales |  | $ | 40,133 |  | $ | 43,161 |  | $ | 43,908 |  | $ | 54,076 |
Cost of sales |  |  | 5,786 |  |  | 6,160 |  |  | 6,011 |  |  | 7,118 |
Gross profit |  |  | 34,347 |  |  | 37,001 |  |  | 37,897 |  |  | 46,958 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative |  |  | 27,155 |  |  | 28,638 |  |  | 31,632 |  |  | 32,104 |
Research and development |  |  | 10,906 |  |  | 12,611 |  |  | 13,202 |  |  | 12,957 |
Total operating expenses |  |  | 38,061 |  |  | 41,249 |  |  | 44,834 |  |  | 45,061 |
(Loss) income from operations |  |  | (3,714) |  |  | (4,248) |  |  | (6,937) |  |  | 1,897 |
Non-operating income (expense) |  |  | 1,008 |  |  | (1,139) |  |  | 353 |  |  | 412 |
Provision for income taxes |  |  | 5 |  |  | 11 |  |  | 37 |  |  | 530 |
Net (loss) income |  | $ | (2,711) |  | $ | (5,398) |  | $ | (6,621) |  | $ | 1,779 |
Net (loss) income per share (1): |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.08) |  | $ | (0.15) |  | $ | (0.19) |  | $ | 0.05 |
Diluted |  | $ | (0.08) |  | $ | (0.15) |  | $ | (0.19) |  | $ | 0.04 |
|  | Three months ended |
|  | March 31, |  | June 30, |  | September 30, |  | December 31, |
(in thousands, except per share amounts) |  | 2017 |  | 2017 |  | 2017 |  | 2017 |
Net sales |  | $ | 35,907 |  | $ | 41,285 |  | $ | 40,412 |  | $ | 41,650 |
Cost of sales |  |  | 5,180 |  |  | 5,522 |  |  | 5,718 |  |  | 4,630 |
Gross profit |  |  | 30,727 |  |  | 35,763 |  |  | 34,694 |  |  | 37,020 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative |  |  | 21,481 |  |  | 24,675 |  |  | 24,141 |  |  | 25,963 |
In-process research and development |  |  | — |  |  | 5,320 |  |  | — |  |  | — |
Research and development |  |  | 8,942 |  |  | 9,633 |  |  | 9,805 |  |  | 10,525 |
Total operating expenses |  |  | 30,423 |  |  | 39,628 |  |  | 33,946 |  |  | 36,488 |
Income (loss) from operations |  |  | 304 |  |  | (3,865) |  |  | 748 |  |  | 532 |
Non-operating income |  |  | 629 |  |  | 586 |  |  | 630 |  |  | 437 |
Provision for income taxes |  |  | 55 |  |  | 22 |  |  | 53 |  |  | (37) |
Net income (loss) |  | $ | 878 |  | $ | (3,301) |  | $ | 1,325 |  | $ | 1,006 |
Net income (loss) per sh are (1): |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.03 |  | $ | (0.10) |  | $ | 0.04 |  | $ | 0.03 |
Diluted |  | $ | 0.02 |  | $ | (0.10) |  | $ | 0.04 |  | $ | 0.03 |
| (1) |  | Net income or loss per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly per-share amounts will not necessarily equal the annual per share amount.

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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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