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Quarterly results of operations (unaudited) | 12 Months Ended
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Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract] |
Quarterly results of operations | Quarterly results of operations (unaudited) The following tables summarize the Company's results by quarter for the years ended December 31, 2016 and 2015. The quarterly results may not be comparable primarily due to acquisitions in 2016, 2015 and 2014. Refer to Note 3, Acquisitions, for further information.
| 2016
(in thousands, except per share information) | Q1 |  | Q2 |  | Q3 |  | Q4
Net sales | $ | 159,441 |  |  | $ | 142,723 |  |  | $ | 138,268 |  |  | $ | 147,203 |
Cost of sales | 124,884 |  |  | 137,442 |  |  | 108,984 |  |  | 116,590 |
Gross profit | 34,557 |  |  | 5,281 |  |  | 29,284 |  |  | 30,613 |
Total operating expenses | 60,147 |  |  | 58,375 |  |  | 55,920 |  |  | 56,069 |
Earnings from equity investment | 577 |  |  | 216 |  |  | 414 |  |  | 617 |
Operating income (loss) | (25,013 | ) |  | (52,878 | ) |  | (26,222 | ) |  | (24,839 | )
Total other expense | 8,341 |  |  | (3,229 | ) |  | 3,594 |  |  | 341 |
Income (loss) before income taxes | (33,354 | ) |  | (49,649 | ) |  | (29,816 | ) |  | (25,180 | )
Provision for income tax expense (benefit) | (10,406 | ) |  | (21,147 | ) |  | (11,821 | ) |  | (12,677 | )
Net income (loss) | (22,948 | ) |  | (28,502 | ) |  | (17,995 | ) |  | (12,503 | )
Less: loss attributable to noncontrolling interest | (5 | ) |  | 35 |  |  | (6 | ) |  | 6 |
Net income (loss) attributable to common stockholders | $ | (22,943 | ) |  | $ | (28,537 | ) |  | $ | (17,989 | ) |  | $ | (12,509 | )
Weighted average shares outstanding |  |  |  |  |  |  |
Basic | 90,477 |  |  | 90,707 |  |  | 90,860 |  |  | 91,923 |
Diluted | 90,477 |  |  | 90,707 |  |  | 90,860 |  |  | 91,923 |
Earnings (loss) per share |  |  |  |  |  |  |
Basic | $ | (0.25 | ) |  | $ | (0.31 | ) |  | $ | (0.20 | ) |  | $ | (0.14 | )
Diluted | $ | (0.25 | ) |  | $ | (0.31 | ) |  | $ | (0.20 | ) |  | $ | (0.14 | )
| 2015
(in thousands, except per share information) | Q1 |  | Q2 |  | Q3 |  | Q4
Net sales | $ | 348,096 |  |  | $ | 284,415 |  |  | $ | 244,993 |  |  | $ | 196,148 |
Cost of sales | 238,970 |  |  | 199,532 |  |  | 179,231 |  |  | 193,242 |
Gross profit | 109,126 |  |  | 84,883 |  |  | 65,762 |  |  | 2,906 |
Total operating expenses (1) | 73,465 |  |  | 66,285 |  |  | 57,439 |  |  | 194,035 |
Earnings from equity investment | 4,571 |  |  | 3,840 |  |  | 3,870 |  |  | 2,543 |
Operating income (loss) | 40,232 |  |  | 22,438 |  |  | 12,193 |  |  | (188,586 | )
Total other expense | 971 |  |  | 11,662 |  |  | 4,543 |  |  | 3,424 |
Income (loss) before income taxes | 39,261 |  |  | 10,776 |  |  | 7,650 |  |  | (192,010 | )
Provision (benefit) for income tax expense | 10,605 |  |  | 1,911 |  |  | 932 |  |  | (28,387 | )
Net income (loss) | 28,656 |  |  | 8,865 |  |  | 6,718 |  |  | (163,623 | )
Less: Income (loss) attributable to noncontrolling interest | (16 | ) |  | (9 | ) |  | (2 | ) |  | (4 | )
Net income (loss) attributable to common stockholders | $ | 28,672 |  |  | $ | 8,874 |  |  | $ | 6,720 |  |  | $ | (163,619 | )
Weighted average shares outstanding |  |  |  |  |  |  |
Basic | 89,482 |  |  | 89,767 |  |  | 90,058 |  |  | 90,175 |
Diluted | 91,469 |  |  | 91,884 |  |  | 91,687 |  |  | 90,175 |
Earnings (loss) per share |  |  |  |  |  |  |
Basic | $ | 0.32 |  |  | $ | 0.10 |  |  | $ | 0.07 |  |  | $ | (1.81 | )
Diluted | $ | 0.31 |  |  | $ | 0.10 |  |  | $ | 0.07 |  |  | $ | (1.81 | )
(1) Total Operating expenses in Q4 included $125,092 goodwill and intangible assets impairment.

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