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Selected Quarterly Financial Information | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Selected Quarterly Financial Information | SELECTED QUARTERLY FINANCIAL INFORMATION The following table summarizes selected quarterly financial information for 2020 and 2019:
| Quarter Ended
(Unaudited) | Dec. 31, |  | Sep. 26, |  | June 27, |  | March 28, |  | Dec. 31, |  | Sep. 28, |  | June 29, |  | March 30,
(In thousands, except for per share data) | 2020 |  | 2020 |  | 2020 |  | 2020 |  | 2019 |  | 2019 |  | 2019 |  | 2019
Sales | $ | 114,803 |  |  | $ | 106,506 |  |  | $ | 123,694 |  |  | $ | 157,584 |  |  | $ | 198,412 |  |  | $ | 177,018 |  |  | $ | 189,098 |  |  | $ | 208,174 |
Gross Profit (sales less cost of products sold) | $ | 19,118 |  |  | $ | 15,173 |  |  | $ | 26,833 |  |  | $ | 35,719 |  |  | $ | 26,908 |  |  | $ | 36,794 |  |  | $ | 40,363 |  |  | $ | 52,077 |
Impairment Loss | $ | — |  |  | $ | — |  |  | $ | 12,608 |  |  | $ | 74,408 |  |  | $ | 11,083 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(Loss) Income Before Income Taxes | $ | (7,541) |  |  | $ | (11,141) |  |  | $ | (24,451) |  |  | $ | (69,277) |  |  | $ | (43,282) |  |  | $ | 1,760 |  |  | $ | 8,830 |  |  | $ | 100,995 |
Net (Loss) Income | $ | (19,985) |  |  | $ | (5,254) |  |  | $ | (23,579) |  |  | $ | (66,963) |  |  | $ | (34,065) |  |  | $ | 1,210 |  |  | $ | 6,726 |  |  | $ | 78,146 |
Basic (Loss) Earnings Per Share | $ | (0.65) |  |  | $ | (0.17) |  |  | $ | (0.77) |  |  | $ | (2.17) |  |  | $ | (1.10) |  |  | $ | 0.04 |  |  | $ | 0.21 |  |  | $ | 2.40 |
Diluted (Loss) Earnings Per Share | $ | (0.65) |  |  | $ | (0.17) |  |  | $ | (0.77) |  |  | $ | (2.17) |  |  | $ | (1.10) |  |  | $ | 0.04 |  |  | $ | 0.20 |  |  | $ | 2.35 |
The Company recorded a partial valuation allowance of approximately $7.0 million and $14.1 million against its U.S. federal deferred tax assets during the first and fourth quarters of 2020, respectively. The Company recorded goodwill impairment charges in the first and second quarters of 2020 as discussed in Note 7. Additionally, several events occurred in the fourth quarter of 2019 which impacted the results as presented. Information included in 2019 is impacted by a significant increase to a legal reserve as well as restructuring, impairment and other charges as discussed in Note 19 and Note 23 in our consolidated financial statements, respectively. Information for 2019 includes the results of Freedom, acquired on July 1, 2019, and Diagnosys, acquired on October 4, 2019, each from the acquisition date forward. Information for 2019 reflects the divestiture of the semiconductor business on February 13, 2019.

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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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