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U. SELECTED QUARTERLY FINANCIAL DATA
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
SELECTED QUARTERLY FINANCIAL DATA

The following tables set forth a summary of the Company’s quarterly financial information for each of the four quarters for the years ended December 31, 2013 and 2012.

 

   First   Second   Third   Fourth 
Year ended December 31, 2012  Quarter   Quarter   Quarter   Quarter 
    (in thousands, except percentages, share and per share data) 
Revenue  $12,506   $15,638   $16,416   $18,861 
Cost of goods sold   8,393    10,938    11,743    13,418 
Gross profit  $4,113   $4,700   $4,673   $5,443 
Gross margin   32.9%    30.1%    28.5%    28.9% 
                     
Operating expenses:                    
Research and development  $1,574   $1,708   $2,178   $2,144 
Sales and marketing   814    806    759    756 
General and administrative   1,961    1,947    1,892    2,213 
Total operating expenses  $4,349   $4,460   $4,829   $5,112 
                     
Income (loss) from operations  $(236)  $240   $(156)  $331 
Interest and other income (expense), net   (287)   (332)   (225)   (280)
Net income (loss)  $(523)  $(92)  $(381)  $51 
                     
Net loss per share—basic, as revised  $(1.97)  $(0.35)  $(1.43)  $0.20 
Net loss per share—diluted, as revised  $(1.97)  $(0.35)  $(1.43)  $0.07 
Weighted average shares used to compute net loss per share, as revised:                    
Basic   265,168    265,590    265,920    265,920 
Diluted   265,168    265,590    265,920    695,241 

 

   First   Second   Third   Fourth 
Year ended December 31, 2013  Quarter   Quarter   Quarter   Quarter 
     (in thousands, except percentages, share and per share data) 
Revenue  $14,317   $19,597   $20,766   $23,744 
Cost of goods sold   9,732    14,150    14,445    17,068 
Gross profit  $4,585   $5,447   $6,321   $6,676 
Gross margin   32.0%    27.8%    30.4%    28.1% 
                     
Operating expenses:                    
Research and development  $2,004   $1,898   $2,211   $2,400 
Sales and marketing   907    1,053    1,034    1,198 
General and administrative   2,374    2,447    2,435    3,375 
Total operating expenses  $5,285   $5,398   $5,680   $6,973 
                     
Income (loss) from operations  $(700)  $49   $641   $(297)
Interest and other income (expense), net   (294)   (331)   (250)   (223)
Net income (loss)  $(994)  $(282)  $390   $(520)
                     
Net loss per share—basic, as revised  $(3.74)  $(1.04)  $0.04   $(0.04)
Net loss per share—diluted, as revised  $(3.74)  $(1.04)  $0.04   $(0.04)
Weighted average shares used to compute net loss per share, as revised:                    
Basic   265,920    270,912    8,995,397    12,630,603 
Diluted   265,920    270,912    9,154,692    12,630,603