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Selected Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Selected Quarterly Financial Information (Unaudited)

Schedule of Quarterly Financial information


		Three months ended
		March 31,			June 30,			September 30,			December 31,
(in thousands, except per share amounts)		2019			2019			2019			2019
Net sales		$	54,026		$	58,600		$	58,509		$	65,849
Cost of sales			7,111			7,870			7,703			15,904
Gross profit			46,915			50,730			50,806			49,945
Operating expenses:
Selling, general and administrative			34,925			37,656			44,443			59,611
Research and development			13,930			17,069			17,278			20,031
In-process research and development			—			2,245			1,500			—
Total operating expenses			48,855			56,970			63,221			79,642
Loss from operations			(1,940)			(6,240)			(12,415)			(29,697)
Non-operating income (expense)			720			3			(904)			437
Income tax provision (benefit)			122			72			187			(65,841)
Net (loss) income		$	(1,342)		$	(6,309)		$	(13,506)		$	36,581
Net (loss) income per share ⁽¹⁾:
Basic		$	(0.04)		$	(0.17)		$	(0.37)		$	0.92
Diluted		$	(0.04)		$	(0.17)		$	(0.37)		$	0.84


		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

(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.