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14. Quarterly Financial Data (Unaudited)
 12 Months Ended
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