Quarterly Financial Information

NOTE 12—QUARTERLY FINANCIAL INFORMATION (Unaudited)

The following table presents unaudited selected quarterly financial information (in thousands, except per share data) for the periods indicated. This information has been derived from the Company’s unaudited quarterly consolidated financial statements, which in the opinion of management include adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of such information. These operating results are not necessarily indicative of results for any future period.


	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Year Ended December 31, 2013
Net sales	$	7,821		$	8,342		$	9,867		$	11,865
Gross profit		1,382			1,730			1,828			2,002
Net income (loss)		(709	)		(47	)		34			125
Basic and diluted net income (loss) per share		(0.05	)		(0.00	)		0.00			0.01

Year Ended December 31, 2012
Net sales	$	12,358		$	8,111		$	5,373		$	8,452
Gross profit		2,256			2,055			1,139			1,356
Net income (loss)		105			(265	)		(1,189	)		(1,151	)
Basic and diluted net income (loss) per share		0.01			(0.02	)		(0.08	)		(0.08	)

- 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.

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