The following summarizes selected quarterly financial data for the year ended March 31, 2016.

	First Quarter		Second Quarter			Third Quarter		Fourth Quarter

Net sales	$	85,835,000	$	91,670,000		$	94,022,000	$	97,443,000
Cost of goods sold		59,844,000		69,850,000			65,123,000		73,229,000
Gross profit		25,991,000		21,820,000			28,899,000		24,214,000
Operating expenses:
General and administrative		11,360,000		18,219,000			8,802,000		11,284,000
Sales and marketing		2,280,000		2,632,000			2,671,000		2,382,000
Research and development		736,000		646,000			711,000		915,000
Total operating expenses		14,376,000		21,497,000			12,184,000		14,581,000
Operating income		11,615,000		323,000			16,715,000		9,633,000
Other expense:
Interest expense, net		8,437,000		2,613,000			2,516,000		2,678,000
Income (loss) before income tax expense (benefit)		3,178,000		(2,290,000	)		14,199,000		6,955,000
Income tax expense (benefit)		1,268,000		(898,000	)		6,451,000		4,658,000

Net income (loss)	$	1,910,000	$	(1,392,000	)	$	7,748,000	$	2,297,000

Basic net income (loss) per share	$	0.11	$	(0.08	)	$	0.42	$	0.12

Diluted net income (loss) per share	$	0.10	$	(0.08	)	$	0.41	$	0.12

The following summarizes selected quarterly financial data for the year ended March 31, 2015:

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter

Net sales	$	62,975,000	$	70,840,000	$	83,992,000	$	83,904,000
Cost of goods sold		45,159,000		52,420,000		59,564,000		62,995,000
Gross profit		17,816,000		18,420,000		24,428,000		20,909,000
Operating expenses:
General and administrative		5,392,000		9,812,000		12,628,000		10,031,000
Sales and marketing		1,826,000		1,837,000		2,281,000		1,907,000
Research and development		522,000		539,000		601,000		611,000
Total operating expenses		7,740,000		12,188,000		15,510,000		12,549,000
Operating income		10,076,000		6,232,000		8,918,000		8,360,000
Other expense:
Interest expense, net		3,413,000		3,339,000		3,165,000		3,148,000
Income before income tax expense		6,663,000		2,893,000		5,753,000		5,212,000
Income tax expense		2,714,000		1,418,000		2,826,000		2,110,000

Net income	$	3,949,000	$	1,475,000	$	2,927,000	$	3,102,000
Basic net income per share	$	0.26	$	0.09	$	0.16	$	0.17
Diluted net income per share	$	0.25	$	0.09	$	0.16	$	0.16