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Selected Quarterly Financial Information (unaudited) | 12 Months Ended
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Dec. 31, 2020
Selected Quarterly Financial Information (unaudited) |
Selected Quarterly Financial Information (unaudited) | Note 19 — Selected Quarterly Financial Information (unaudited) ​ The following table presents selected unaudited financial data for each fiscal quarter of 2020 and 2019. Although unaudited, this information has been prepared on a basis consistent with the Company’s audited Consolidated Financial Statements and, in the opinion of management, reflects all adjustments (consisting only of normal recurring adjustments) that are considered necessary for a fair presentation of this information in accordance with GAAP. Such quarterly results are not necessarily indicative of future results of operations. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal 2020 | ​ | Fiscal 2019
​ |  | Q1 |  | Q2 |  | Q3 |  | Q4 |  | Q1 |  | Q2 |  | Q3 |  | Q4
​ | ​ | (in thousands, except per share amounts)
Net sales | ​ | $ | 104,502 | ​ | $ | 98,637 | ​ | $ | 112,078 | ​ | $ | 138,946 | ​ | $ | 99,371 | ​ | $ | 97,822 | ​ | $ | 108,954 | ​ | $ | 113,202
Gross profit | ​ | ​ | 46,419 | ​ | ​ | 41,894 | ​ | ​ | 49,142 | ​ | ​ | 56,845 | ​ | ​ | 34,716 | ​ | ​ | 36,285 | ​ | ​ | 42,223 | ​ | ​ | 44,970
Net income (loss) | ​ | ​ | (567) | ​ | ​ | (8,302) | ​ | ​ | 580 | ​ | ​ | (102) | ​ | ​ | (18,530) | ​ | ​ | (15,565) | ​ | ​ | (11,767) | ​ | ​ | (32,871)
Basic income (loss) per common share | ​ | ​ | (0.01) | ​ | ​ | (0.17) | ​ | ​ | 0.01 | ​ | ​ | (0.00) | ​ | ​ | (0.40) | ​ | ​ | (0.33) | ​ | ​ | (0.25) | ​ | ​ | (0.69)
Diluted income (loss) per common share | ​ | ​ | (0.01) | ​ | ​ | (0.17) | ​ | ​ | 0.01 | ​ | ​ | (0.00) | ​ | ​ | (0.40) | ​ | ​ | (0.33) | ​ | ​ | (0.25) | ​ | ​ | (0.69)
​ As discussed in Note 11, “Debt”, the Company accounted for the partial settlements of the 2023 Notes in the second quarter and fourth quarter of 2020 as extinguishments, and as such, recorded losses on extinguishment of approximately $3.0 million and $4.8 million for the second and fourth quarter, respectively, which were included in “Other income (expense), net” in the Consolidated Statements of Operations. Refer to Note 11, “Debt” for additional information. ​ During the fourth quarter of 2019, the Company recorded a non-cash impairment charge of $21.0 million related to its equity investment in Kateeva which is included in “Other income (expense), net” in the Consolidated Statements of Operations, as well as a non-cash impairment charge of $4.0 million related to the classification of a disposal group as held for sale which is included in “Asset impairment” in the Consolidated Statements of Operations. Refer to Note 4, “Investments,” and Note 16, “Dispositions,” for additional information.

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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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