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Quarterly Financial Results (Unaudited) | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Results (Unaudited) | Quarterly Financial Results (Unaudited) The following financial information for interim periods includes transactions which affect comparability of the quarterly results for the years ended December 31, 2020 and 2019. Financial information for interim periods was as follows:
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
| (in thousands, except per share amounts)
2020 |  |  |  |  |  |  |
Product sales | $ | 13,094 |  |  | $ | 13,949 |  |  | $ | 16,650 |  |  | $ | 20,926 |
Service sales | 23,474 |  |  | 22,977 |  |  | 24,462 |  |  | 23,201 |
Cost of product sales | 9,636 |  |  | 9,554 |  |  | 10,422 |  |  | 11,996 |
Cost of service sales | 15,195 |  |  | 14,378 |  |  | 14,875 |  |  | 15,069 |
Operating expenses (a) | 19,385 |  |  | 16,430 |  |  | 16,318 |  |  | 28,412 |
Loss from continuing operations (a) | (7,648) |  |  | (3,436) |  |  | (503) |  |  | (11,350) |
Net loss from continuing operations (a) | (6,214) |  |  | (3,552) |  |  | (537) |  |  | (11,637) |
Net loss (a) | $ | (6,214) |  |  | $ | (3,552) |  |  | $ | (537) |  |  | $ | (11,637) |
Net loss continuing operations per share (b): |  |  |  |  |  |  |
Basic | $ | (0.35) |  |  | $ | (0.20) |  |  | $ | (0.03) |  |  | $ | (0.65) |
Diluted | $ | (0.35) |  |  | $ | (0.20) |  |  | $ | (0.03) |  |  | $ | (0.65) |
Net loss per share (b): |  |  |  |  |  |  |
Basic | $ | (0.35) |  |  | $ | (0.20) |  |  | $ | (0.03) |  |  | $ | (0.65) |
Diluted | $ | (0.35) |  |  | $ | (0.20) |  |  | $ | (0.03) |  |  | $ | (0.65) |
2019 |  |  |  |  |  |  |
Product sales (c) | $ | 13,215 |  |  | $ | 15,189 |  |  | $ | 14,808 |  |  | $ | 18,713 |
Service sales | 23,161 |  |  | 24,541 |  |  | 24,503 |  |  | 23,763 |
Cost of product sales (c) | 8,284 |  |  | 12,649 |  |  | 10,823 |  |  | 11,131 |
Cost of service sales | 15,373 |  |  | 15,379 |  |  | 15,029 |  |  | 15,475 |
Operating expenses (c) | 18,953 |  |  | 18,381 |  |  | 18,317 |  |  | 19,195 |
Loss from continuing operations (c) | (6,234) |  |  | (6,679) |  |  | (4,858) |  |  | (3,325) |
Net loss from continuing operations (c) | (6,497) |  |  | (3,294) |  |  | (3,308) |  |  | (2,910) |
Net income (loss) from discontinued operations | 243 |  |  | 50,630 |  |  | (1,036) |  |  | (573) |
Net (loss) income (c) | $ | (6,254) |  |  | $ | 47,336 |  |  | $ | (4,344) |  |  | $ | (3,483) |
Net loss continuing operations per share (b): |  |  |  |  |  |  |
Basic | $ | (0.38) |  |  | $ | (0.19) |  |  | $ | (0.19) |  |  | $ | (0.17) |
Diluted | $ | (0.38) |  |  | $ | (0.19) |  |  | $ | (0.19) |  |  | $ | (0.17) |
Net income (loss) discontinued operations per share (b): |  |  |  |  |  |  |
Basic | $ | 0.01 |  |  | $ | 2.90 |  |  | $ | (0.06) |  |  | $ | (0.03) |
Diluted | $ | 0.01 |  |  | $ | 2.90 |  |  | $ | (0.06) |  |  | $ | (0.03) |
Net (loss) income per share (b): |  |  |  |  |  |  |
Basic | $ | (0.36) |  |  | $ | 2.71 |  |  | $ | (0.25) |  |  | $ | (0.20) |
Diluted | $ | (0.36) |  |  | $ | 2.71 |  |  | $ | (0.25) |  |  | $ | (0.20) |
a.Includes an impairment charge of $10,490 for the KVH Media Group reporting unit within the mobile connectivity segment during the fourth quarter of 2020. b.Net loss per share is computed independently for each of the quarters. Therefore, the net loss per share for the four quarters may not equal the annual net loss per share data. c.The Company’s product sales, costs of product sales, sales, marketing and support expense, income tax benefit and net loss from continuing operations for 2019 include adjustments to correct immaterial prior period accounting errors related to the implementation and application of ASC 606. See Note 11 of our consolidated financial statements for more information.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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