Quarterly Financial Data (unaudited)

12 Months Ended

Sep. 30, 2017

Quarterly Financial Data (unaudited)

16. Quarterly Financial Data (unaudited)

Summarized quarterly results of operations of the Company for the years ended September 30, 2017 and September 30, 2016 are presented below:

	Fiscal Year Ended September 30, 2017
	First Quarter			Second Quarter		Third Quarter			Fourth Quarter
Net sales	$	3,365,866		$	4,653,902	$	4,541,421		$	4,225,484
Cost of sales	1,828,052			2,302,431		2,164,140			2,373,726
Gross profit	1,537,814			2,351,471		2,377,281			1,851,758
Operating (loss) income	(1,595,295		)	2,985,918		(541,189		)	(926,999		)
Net (loss) income	(1,194,974		)	5,930,425		19,220			(186,045		)

Net income (loss) per common share
Basic	$	(0.07	)	$	0.35	$	—		$	(0.01	)
Diluted	$	(0.07	)	$	0.35	$	—		$	(0.01	)

	Fiscal Year Ended September 30, 2016
	First Quarter			Second Quarter		Third Quarter		Fourth Quarter
Net sales	$	6,583,578		$	8,660,982	$	6,504,592	$	6,220,551
Cost of sales	3,267,767			2,757,635		2,621,016		2,835,905
Gross profit	3,315,811			5,903,347		3,883,576		3,384,646
Operating income (loss)	(308,733		)	1,973,116		232,344		546,460
Net income (loss)	(215,438		)	1,578,313		226,797		397,129

Net income (loss) per common share
Basic	$	(0.01	)	$	0.09	$	0.01	$	0.02
Diluted	$	(0.01	)	$	0.09	$	0.01	$	0.02

Quarterly and full fiscal year EPS are calculated independently based on the weighted average number of shares outstanding during each period. As a result, the sum of each quarter’s per share amount may not equal the total per share amount for the respective year.

The increases in net income and net income per share during the second quarter of fiscal 2017 were a result of the proceeds of the Delta settlement.