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14. Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract] |
14. Quarterly Financial Data (Unaudited) | A summary of the unaudited quarterly results of operations for the years ended December 31, 2014, 2013 and 2012 is as follows:
2014 |  | For the three months ended |  |  | For the year ended |
|  | March 31, |  |  | June 30, |  |  | September 30, |  |  | December 31, |  |  | December 31, |
|  | 2014 |  |  | 2014 |  |  | 2014 |  |  | 2014 |  |  | 2014 |
Revenues |  | $ | 60,665 |  |  | $ | 57,195 |  |  | $ | 48,348 |  |  | $ | 41,475 |  |  | $ | 207,683 |
Cost of goods sold |  |  | 45,041 |  |  |  | 45,842 |  |  |  | 40,633 |  |  |  | 39,023 |  |  |  | 170,539 |
Gross profit |  |  | 15,624 |  |  |  | 11,353 |  |  |  | 7,715 |  |  |  | 2,452 |  |  |  | 37,144 |
Research and development expenses |  |  | 100 |  |  |  | 141 |  |  |  | 101 |  |  |  | 117 |  |  |  | 459 |
Selling, general and administrative expenses |  |  | 2,842 |  |  |  | 3,449 |  |  |  | 2,972 |  |  |  | 3,332 |  |  |  | 12,595 |
Operating income/(loss) |  |  | 12,682 |  |  |  | 7,763 |  |  |  | 4,642 |  |  |  | (997 | ) |  |  | 24,090 |
Other income/(expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate expense |  |  | (2,920 | ) |  |  | (2,530 | ) |  |  | (2,287 | ) |  |  | (2,315 | ) |  |  | (10,052 | )
Amortization expense |  |  | (2,118 | ) |  |  | (2,502 | ) |  |  | (741 | ) |  |  | (677 | ) |  |  | (6,038 | )
Loss on debt extinguishment |  |  | (115 | ) |  |  | - |  |  |  | (1,231 | ) |  |  | - |  |  |  | (1,346 | )
Gain on sale of assets |  |  | - |  |  |  | (119 | ) |  |  | - |  |  |  | - |  |  |  | (119 | )
Other income/(expense) |  |  | 164 |  |  |  | 110 |  |  |  | 81 |  |  |  | 249 |  |  |  | 604 |
Income /(Loss) before income taxes |  |  | 7,693 |  |  |  | 2,722 |  |  |  | 464 |  |  |  | (3,740 | ) |  |  | 7,139 |
Income tax expense |  |  | (6 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (6 | )
Net income /(loss) |  |  | 7,687 |  |  |  | 2,722 |  |  |  | 464 |  |  |  | (3,740 | ) |  |  | 7,133 |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  |  | 108 |  |  |  | - |  |  |  | (98 | ) |  |  | (56 | ) |  |  | (46 | )
Comprehensive income (loss) |  | $ | 7,795 |  |  | $ | 2,722 |  |  | $ | 366 |  |  | $ | (3,796 | ) |  | $ | 7,087 |
Net income (loss) per common share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.38 |  |  | $ | 0.13 |  |  | $ | 0.02 |  |  | $ | (0.18 | ) |  | $ | 0.35 |
Diluted |  | $ | 0.34 |  |  | $ | 0.13 |  |  | $ | 0.02 |  |  | $ | (0.18 | ) |  | $ | 0.34 |
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 20,007 |  |  |  | 20,284 |  |  |  | 20,555 |  |  |  | 20,630 |  |  |  | 20,371 |
Diluted |  |  | 22,657 |  |  |  | 20,948 |  |  |  | 21,476 |  |  |  | 20,630 |  |  |  | 21,047 |
2013 Certain balances on the quarterly results of operations for the quarters ended March 31, 2013, June 30, 2013 and September 30, 2013 have been reclassified, with no effect on net income (loss), to be consistent with the classifications adopted for the year ended December 31, 2013. A summary of the unaudited quarterly results of operations incorporating these changes discussed above for the years ended December 31, 2013 and 2012 is as follows:
|  | For the three months ended |  |  | For the year ended |
|  | March 31, |  |  | June 30, |  |  | September 30, |  |  | December 31, |  |  | December 31, |
|  | 2013 |  |  | 2013 |  |  | 2013 |  |  | 2013 |  |  | 2013 |
Revenues |  | $ | 19,420 |  |  | $ | 47,353 |  |  | $ | 56,688 |  |  | $ | 54,053 |  |  | $ | 177,514 |
Cost of goods sold |  |  | 19,173 |  |  |  | 43,602 |  |  |  | 53,652 |  |  |  | 42,793 |  |  |  | 159,220 |
Gross profit |  |  | 247 |  |  |  | 3,751 |  |  |  | 3,036 |  |  |  | 11,260 |  |  |  | 18,294 |
Research and development expenses |  |  | 229 |  |  |  | 124 |  |  |  | 115 |  |  |  | 71 |  |  |  | 539 |
Selling, general and administrative expenses |  |  | 4,215 |  |  |  | 3,984 |  |  |  | 3,879 |  |  |  | 3,197 |  |  |  | 15,275 |
Operating income/(loss) |  |  | (4,197 | ) |  |  | (357 | ) |  |  | (958 | ) |  |  | 7,992 |  |  |  | 2,480 |
Other income/(expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate expense |  |  | (2,671 | ) |  |  | (2,913 | ) |  |  | (2,933 | ) |  |  | (3,291 | ) |  |  | (11,808 | )
Amortization expense |  |  | (2,273 | ) |  |  | (6,071 | ) |  |  | (2,020 | ) |  |  | (2,103 | ) |  |  | (12,467 | )
Loss on debt extinguishment |  |  | (956 | ) |  |  | (232 | ) |  |  | (2,521 | ) |  |  | - |  |  |  | (3,709 | )
Gain on sale of assets |  |  | 126 |  |  |  | 48 |  |  |  | 108 |  |  |  | 47 |  |  |  | 329 |
Other income/(expense) |  |  | 163 |  |  |  | (67 | ) |  |  | 35 |  |  |  | 613 |  |  |  | 744 |
Income (Loss) before income taxes |  |  | (9,808 | ) |  |  | (9,592 | ) |  |  | (8,289 | ) |  |  | 3,258 |  |  |  | (24,431 | )
Income tax expense |  |  | (6 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (6 | )
Net income /(loss) |  |  | (9,814 | ) |  |  | (9,592 | ) |  |  | (8,289 | ) |  |  | 3,258 |  |  |  | (24,437 | )
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  |  | 199 |  |  |  | (600 | ) |  |  | (275 | ) |  |  | 78 |  |  |  | (598 | )
Comprehensive (loss)/income |  | $ | (9,615 | ) |  | $ | (10,192 | ) |  | $ | (8,564 | ) |  | $ | 3,336 |  |  | $ | (25,035 | )
Net (loss)/income per common share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.54 | ) |  | $ | (0.51 | ) |  | $ | (0.43 | ) |  | $ | 0.16 |  |  | $ | (1.28 | )
Diluted |  | $ | (0.54 | ) |  | $ | (0.51 | ) |  | $ | (0.43 | ) |  | $ | 0.16 |  |  | $ | (1.28 | )
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 18,223 |  |  |  | 18,964 |  |  |  | 19,390 |  |  |  | 19,806 |  |  |  | 19,101 |
Diluted |  |  | 18,223 |  |  |  | 18,964 |  |  |  | 19,390 |  |  |  | 20,272 |  |  |  | 19,101 |

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=35737889&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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