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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2016
Selected Quarterly Financial Data (Unaudited)
Note 20—Selected Quarterly Financial Data (Unaudited)
 
Selected unaudited quarterly financial data for the years 2015 and 2016 are summarized below. The Company has derived this data from the unaudited consolidated interim financial statements that, in the Company's opinion, have been prepared on substantially the same basis as the audited financial statements contained elsewhere in this report and include all normal recurring adjustments necessary for a fair presentation of the financial information for the periods presented. These unaudited quarterly results should be read in conjunction with the financial statements and notes thereto included elsewhere in this report. The operating results in any quarter are not necessarily indicative of the results that may be expected for any future period.

 
  
2015
    
2016
  
 
  
First
    
Second
    
Third
    
Fourth
    
First
    
Second
    
Third
    
Fourth
  
 
  
Quarter
    
Quarter
    
Quarter
    
Quarter
    
Quarter
    
Quarter
    
Quarter
    
Quarter
  
 
  
(in thousands, except per share data)
  
Net sales
  
$
114,201
    
$
131,106
    
$
337,027
    
$
163,407
    
$
95,809
    
$
140,977
    
$
302,791
    
$
167,026
  
Gross profit
  
$
35,378
    
$
39,287
    
$
104,329
    
$
49,575
    
$
31,183
    
$
44,800
    
$
94,933
    
$
52,105
  
Income (loss) from operations
  
$
(4,199
)
  
$
(3,008
)
  
$
44,628
    
$
(6,891
)
  
$
(13,816
)
  
$
(1,100
)
  
$
34,413
    
$
(2,391
)
Income (loss) before provision
(benefit) for income taxes
  
$
(7,154
)
  
$
(4,414
)
  
$
47,239
    
$
(9,078
)
  
$
(16,951
)
  
$
(3,441
)
  
$
31,612
    
$
(5,844
)
Net income (loss)
  
$
(7,581
)
  
$
(5,727
)
  
$
45,864
    
$
(9,386
)
  
$
(17,383
)
  
$
(4,145
)
  
$
30,529
    
$
(7,752
)
Basic earnings (loss) per share
  
$
(0.40
)
  
$
(0.30
)
  
$
2.47
    
$
(0.50
)
  
$
(1.01
)
  
$
(0.27
)
  
$
1.91
    
$
(0.47
)
Weighted average shares
outstanding
    
19,090
      
19,108
      
18,559
      
18,781
      
17,218
      
16,402
      
16,044
      
16,098
  
Diluted earnings (loss) per share
  
$
(0.40
)
  
$
(0.30
)
  
$
1.12
    
$
(0.50
)
  
$
(1.01
)
  
$
(0.27
)
  
$
0.82
    
$
(0.47
)
Weighted average shares and
equivalents outstanding
    
19,090
      
19,108
      
42,562
      
18,781
      
17,218
      
16,402
      
39,504
      
16,098
  

 
Quarterly and year-to-date computations of income (loss) per share amounts are made independently. Therefore, the sum of the per-share amounts for the quarters may not agree with the per share amounts for the year.