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Quarterly financial data (unaudited) | 12 Months Ended
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Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract] |
Quarterly financial data (unaudited) |
22. | Quarterly financial data (unaudited)
We have restated all quarterly periods of 2012 as well as the first quarter of 2013, to reflect the restatement described herein. See “Note 2—Restatement of the Consolidated Financial Statements.” The following tables summarize the impacts of the restatement on our previously reported condensed consolidated statements of operations and balance sheets included in our Quarterly Reports on Form 10-Q for each respective period. Condensed Consolidated Statement of Operations As Restated or Currently Reported (U.S. Dollars, in thousands, except per share data)
|  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |  |  | Year |
|  | (Restated) |  |  |  |  |  |  |  |  |  |  |  |  |
2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 103,373 |  |  | $ | 98,280 |  |  | $ | 92,738 |  |  | $ | 106,143 |  |  | $ | 400,534 |
Cost of sales |  |  | 25,617 |  |  |  | 20,246 |  |  |  | 23,920 |  |  |  | 32,517 |  |  |  | 102,300 |
Gross profit |  |  | 77,756 |  |  |  | 78,034 |  |  |  | 68,818 |  |  |  | 73,626 |  |  |  | 298,234 |
Operating Expense |  |  | 69,669 |  |  |  | 69,230 |  |  |  | 84,418 |  |  |  | 80,004 |  |  |  | 303,321 |
Operating Income (loss) |  |  | 8,087 |  |  |  | 8,804 |  |  |  | (15,600 | ) |  |  | (6,378 | ) |  |  | (5,087 | )
Net income (loss) from continuing operations |  |  | 7,610 |  |  |  | 4,130 |  |  |  | (18,084 | ) |  |  | (8,564 | ) |  |  | (14,908 | )
Net income (loss) |  | $ | 4,500 |  |  | $ | (2,317 | ) |  | $ | (19,822 | ) |  | $ | (7,876 | ) |  | $ | (25,515 | )
Net income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) from continuing operations |  | $ | 0.39 |  |  | $ | 0.22 |  |  | $ | (1.00 | ) |  | $ | (0.47 | ) |  | $ | (0.80 | )
Net income (loss) |  | $ | 0.23 |  |  | $ | (0.12 | ) |  | $ | (1.10 | ) |  | $ | (0.43 | ) |  | $ | (1.37 | )
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) from continuing operations |  | $ | 0.39 |  |  | $ | 0.21 |  |  | $ | (1.00 | ) |  | $ | (0.47 | ) |  | $ | (0.80 | )
Net income (loss) |  | $ | 0.23 |  |  | $ | (0.12 | ) |  | $ | (1.10 | ) |  | $ | (0.43 | ) |  | $ | (1.37 | )
|  | (Restated) |  |  | (Restated) |  |  | (Restated) |  |  | (Restated) |  |  | (Restated) |
2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 108,936 |  |  | $ | 113,423 |  |  | $ | 107,857 |  |  | $ | 117,365 |  |  | $ | 447,581 |
Cost of sales |  |  | 21,378 |  |  |  | 27,547 |  |  |  | 24,384 |  |  |  | 24,944 |  |  |  | 98,253 |
Gross profit |  |  | 87,558 |  |  |  | 85,876 |  |  |  | 83,473 |  |  |  | 92,421 |  |  |  | 349,328 |
Operating Expense |  |  | 69,638 |  |  |  | 71,578 |  |  |  | 64,668 |  |  |  | 66,808 |  |  |  | 272,692 |
Operating Income |  |  | 17,920 |  |  |  | 14,298 |  |  |  | 18,805 |  |  |  | 25,613 |  |  |  | 76,636 |
Net income from continuing operations |  |  | 8,597 |  |  |  | 9,870 |  |  |  | 10,574 |  |  |  | 16,009 |  |  |  | 45,050 |
Net income |  | $ | 9,407 |  |  | $ | 7,254 |  |  | $ | 5,016 |  |  | $ | 21,161 |  |  | $ | 42,838 |
Net income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 0.46 |  |  | $ | 0.52 |  |  | $ | 0.55 |  |  | $ | 0.83 |  |  | $ | 2.37 |
Net income |  | $ | 0.50 |  |  | $ | 0.38 |  |  | $ | 0.26 |  |  | $ | 1.10 |  |  | $ | 2.25 |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 0.45 |  |  | $ | 0.51 |  |  | $ | 0.54 |  |  | $ | 0.81 |  |  | $ | 2.32 |
Net income |  | $ | 0.49 |  |  | $ | 0.37 |  |  | $ | 0.25 |  |  | $ | 1.07 |  |  | $ | 2.21 |
Condensed Consolidated Statement of Operations As Previously Reported (U.S. Dollars, in thousands, except per share data)
|  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |  |  | Year |
2013 (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 100,254 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | 22,699 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross profit |  |  | 77,555 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating Expense |  |  | 73,531 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating Income |  |  | 4,024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  |  | 4,908 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 2,116 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 0.25 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 0.11 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 0.25 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 0.11 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 116,041 |  |  | $ | 119,492 |  |  | $ | 114,752 |  |  | $ | 112,035 |  |  | $ | 462,320 |
Cost of sales |  |  | 21,939 |  |  |  | 23,676 |  |  |  | 22,373 |  |  |  | 18,504 |  |  |  | 86,492 |
Gross profit |  |  | 94,102 |  |  |  | 95,816 |  |  |  | 92,379 |  |  |  | 93,531 |  |  |  | 375,828 |
Operating Expense |  |  | 71,671 |  |  |  | 75,251 |  |  |  | 70,846 |  |  |  | 69,050 |  |  |  | 286,818 |
Operating Income |  |  | 22,431 |  |  |  | 20,565 |  |  |  | 21,533 |  |  |  | 24,481 |  |  |  | 89,010 |
Net income from continuing operations |  |  | 12,215 |  |  |  | 13,967 |  |  |  | 13,118 |  |  |  | 14,636 |  |  |  | 53,936 |
Net income |  | $ | 12,016 |  |  | $ | 11,205 |  |  | $ | 7,560 |  |  | $ | 20,514 |  |  | $ | 51,295 |
Net income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 0.65 |  |  | $ | 0.74 |  |  | $ | 0.69 |  |  | $ | 0.76 |  |  | $ | 2.84 |
Net income |  | $ | 0.64 |  |  | $ | 0.59 |  |  | $ | 0.40 |  |  | $ | 1.06 |  |  | $ | 2.70 |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 0.64 |  |  | $ | 0.73 |  |  | $ | 0.67 |  |  | $ | 0.74 |  |  | $ | 2.78 |
Net income |  | $ | 0.63 |  |  | $ | 0.58 |  |  | $ | 0.39 |  |  | $ | 1.04 |  |  | $ | 2.64 |
(1) | Q2-Q4 2013 was not previously reported.
Condensed Consolidated Statement of Operations Restatement Adjustments (U.S. Dollars, in thousands, except per share data)
|  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |  |  | Year |
2013 (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 3,119 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | 2,918 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross profit |  |  | 201 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating Expense |  |  | (3,862 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating Income |  |  | 4,063 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  |  | 2,702 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 2,384 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 0.14 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 0.12 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 0.14 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 0.12 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | (7,105 | ) |  | $ | (6,069 | ) |  | $ | (6,895 | ) |  | $ | 5,330 |  |  | $ | (14,739 | )
Cost of sales |  |  | (561 | ) |  |  | 3,871 |  |  |  | 2,011 |  |  |  | 6,440 |  |  |  | 11,761 |
Gross profit |  |  | (6,544 | ) |  |  | (9,940 | ) |  |  | (8,906 | ) |  |  | (1,110 | ) |  |  | (26,500 | )
Operating Expense |  |  | (2,033 | ) |  |  | (3,673 | ) |  |  | (6,178 | ) |  |  | (2,242 | ) |  |  | (14,126 | )
Operating Income |  |  | (4,511 | ) |  |  | (6,267 | ) |  |  | (2,728 | ) |  |  | 1,132 |  |  |  | (12,374 | )
Net income (loss) from continuing operations |  |  | (3,618 | ) |  |  | (4,097 | ) |  |  | (2,544 | ) |  |  | 1,373 |  |  |  | (8,886 | )
Net (loss) income |  | $ | (2,609 | ) |  | $ | (3,951 | ) |  | $ | (2,544 | ) |  | $ | 647 |  |  | $ | (8,457 | )
Net income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) from continuing operations |  | $ | (0.19 | ) |  | $ | (0.22 | ) |  | $ | (0.14 | ) |  | $ | 0.07 |  |  | $ | (0.47 | )
Net income (loss) |  | $ | (0.14 | ) |  | $ | (0.21 | ) |  | $ | (0.14 | ) |  | $ | 0.04 |  |  | $ | (0.45 | )
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) from continuing operations |  | $ | (0.19 | ) |  | $ | (0.22 | ) |  | $ | (0.13 | ) |  | $ | 0.07 |  |  | $ | (0.46 | )
Net income (loss) |  | $ | (0.14 | ) |  | $ | (0.21 | ) |  | $ | (0.14 | ) |  | $ | 0.03 |  |  | $ | (0.43 | )
(1) | Q2-Q4 2013 was not previously reported and therefore does not have restatement adjustments.
Condensed Consolidated Balance Sheets As Restated or Currently Reported
(U.S. Dollars, in thousands, except share and per share data) |  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |
|  | (Restated) |  |  |  |  |  |  |  |  |  |
2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 475,758 |  |  | $ | 459,450 |  |  | $ | 430,058 |  |  | $ | 423,182 |
Total liabilities |  |  | 102,366 |  |  |  | 114,223 |  |  |  | 111,001 |  |  |  | 115,919 |
Total shareholders’ equity |  |  | 373,392 |  |  |  | 345,227 |  |  |  | 319,057 |  |  |  | 310,494 |
Total liabilities and shareholders’ equity |  | $ | 475,758 |  |  | $ | 459,450 |  |  | $ | 430,058 |  |  | $ | 423,182 |
2012 |  | (Restated) |  |  | (Restated) |  |  | (Restated) |  |  | (Restated) |
Total assets |  | $ | 694,106 |  |  | $ | 530,395 |  |  | $ | 539,566 |  |  | $ | 472,897 |
Total liabilities |  |  | 381,734 |  |  |  | 205,196 |  |  |  | 193,599 |  |  |  | 105,065 |
Total shareholders’ equity |  |  | 312,372 |  |  |  | 325,199 |  |  |  | 345,967 |  |  |  | 367,832 |
Total liabilities and shareholders’ equity |  | $ | 694,106 |  |  | $ | 530,395 |  |  | $ | 539,566 |  |  | $ | 472,897 |
Condensed Consolidated Balance Sheets As Previously Reported
(U.S. Dollars, in thousands, except share and per share data) |  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |
2013 (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 503,380 |  |  |  |  |  |  |  |  |  |  |  |  |
Total liabilities |  |  | 101,212 |  |  |  |  |  |  |  |  |  |  |  |  |
Total shareholders’ equity |  |  | 402,168 |  |  |  |  |  |  |  |  |  |  |  |  |
Total liabilities and shareholders’ equity |  | $ | 503,380 |  |  |  |  |  |  |  |  |  |  |  |  |
2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 707,586 |  |  | $ | 553,320 |  |  | $ | 565,073 |  |  | $ | 504,281 |
Total liabilities |  |  | 369,178 |  |  |  | 199,104 |  |  |  | 187,463 |  |  |  | 105,183 |
Total shareholders’ equity |  |  | 338,408 |  |  |  | 354,216 |  |  |  | 377,610 |  |  |  | 399,098 |
Total liabilities and shareholders’ equity |  | $ | 707,586 |  |  | $ | 553,320 |  |  | $ | 565,073 |  |  | $ | 504,281 |
(1) Q2-Q4 2013 was not previously reported. Condensed Consolidated Balance Sheets Restatement Adjustments
(U.S. Dollars, in thousands, except share and per share data) |  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |
2013 (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | (27,622 | ) |  |  |  |  |  |  |  |  |  |  |  |
Total liabilities |  |  | 1,154 |  |  |  |  |  |  |  |  |  |  |  |  |
Total shareholders’ equity |  |  | (28,776 | ) |  |  |  |  |  |  |  |  |  |  |  |
Total liabilities and shareholders’ equity |  | $ | (27,622 | ) |  |  |  |  |  |  |  |  |  |  |  |
2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | (13,480 | ) |  | $ | (22,925 | ) |  | $ | (25,507 | ) |  | $ | (31,384 | )
Total liabilities |  |  | 12,556 |  |  |  | 6,092 |  |  |  | 6,136 |  |  |  | (118 | )
Total shareholders’ equity |  |  | (26,036 | ) |  |  | (29,017 | ) |  |  | (31,643 | ) |  |  | (31,266 | )
Total liabilities and shareholders’ equity |  | $ | (13,480 | ) |  | $ | (22,925 | ) |  | $ | (25,507 | ) |  | $ | (31,384 | )
(1) | Q2-Q4 2013 was not previously reported and therefore does not have restatement adjustments.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=25249566&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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