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Quarterly Results of Operations (Unaudited) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results of Operations (Unaudited) | Quarterly Results of Operations (Unaudited) The following tables present the quarterly results of operations for the years ended December 31, 2019 and 2018.
2019 |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Net sales |  | $ | 213,256 |  |  | $ | 221,666 |  |  | $ | 213,897 |  |  | $ | 198,632 |
Cost of sales (exclusive of depreciation and amortization) |  | 162,187 |  |  | 164,099 |  |  | 161,074 |  |  | 154,279 |
Net income (loss) |  | (19,518 | ) |  | (7,283 | ) |  | (5,855 | ) |  | (14,085 | )
Comprehensive income (loss) |  | (22,053 | ) |  | (15,742 | ) |  | (17,976 | ) |  | (4,210 | )
Basic net income (loss) per common share |  | $ | (0.47 | ) |  | $ | (0.17 | ) |  | $ | (0.14 | ) |  | $ | (0.35 | )
Diluted net income (loss) per common share |  | $ | (0.47 | ) |  | $ | (0.17 | ) |  | $ | (0.14 | ) |  | $ | (0.35 | )
2018 |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Net sales |  | $ | 168,487 |  |  | $ | 197,010 |  |  | $ | 205,683 |  |  | $ | 199,477 |
Cost of sales (exclusive of depreciation and amortization) |  | 126,160 |  |  | 149,588 |  |  | 156,510 |  |  | 156,923 |
Net income (loss) |  | (6,360 | ) |  | (25,317 | ) |  | (13,886 | ) |  | (217,424 | )
Comprehensive income (loss) |  | (890 | ) |  | (40,833 | ) |  | (18,134 | ) |  | (216,739 | )
Basic net income (loss) per common share |  | $ | (0.23 | ) |  | $ | (0.91 | ) |  | $ | (0.48 | ) |  | $ | (5.18 | )
Diluted net income (loss) per common share |  | $ | (0.23 | ) |  | $ | (0.91 | ) |  | $ | (0.48 | ) |  | $ | (5.18 | )
As further described in Note 2, during 2019 we identified misstatements in our previously issued financial statements which we are correcting through the revision of our previously issued financial statements. The effect of the revision on the 2019 and 2018 previously issued unaudited quarterly financial results is presented in the tables below. The revision of our 2019 quarterly financial statements will be effected in connection with the prospective issuance of 2020 quarterly filings on Form 10-Q.
| As Originally Reported |  | Adjustment |  | As Revised
Third Quarter 2019 |  |  |  |  |
Net sales | $ | 213,897 |  |  | $ | — |  |  | $ | 213,897 |
Cost of sales (exclusive of depreciation and amortization) | 160,816 |  |  | 258 |  |  | 161,074 |
Net income (loss) | (5,597 | ) |  | (258 | ) |  | (5,855 | )
Comprehensive income (loss) | (17,988 | ) |  | 12 |  |  | (17,976 | )
Basic net income (loss) per common share | $ | (0.13 | ) |  | $ | (0.01 | ) |  | $ | (0.14 | )
Diluted net income (loss) per common share | $ | (0.13 | ) |  | $ | (0.01 | ) |  | $ | (0.14 | )
Second Quarter 2019 |  |  |  |  |
Net sales | $ | 221,666 |  |  | $ | — |  |  | $ | 221,666 |
Cost of sales (exclusive of depreciation and amortization) | 163,513 |  |  | 586 |  |  | 164,099 |
Net income (loss) | (6,697 | ) |  | (586 | ) |  | (7,283 | )
Comprehensive income (loss) | (15,093 | ) |  | (649 | ) |  | (15,742 | )
Basic net income (loss) per common share | $ | (0.16 | ) |  | $ | (0.01 | ) |  | $ | (0.17 | )
Diluted net income (loss) per common share | $ | (0.16 | ) |  | $ | (0.01 | ) |  | $ | (0.17 | )
First Quarter 2019 |  |  |  |  |
Net sales | $ | 213,256 |  |  | $ | — |  |  | $ | 213,256 |
Cost of sales (exclusive of depreciation and amortization) | 161,269 |  |  | 918 |  |  | 162,187 |
Net income (loss) | (18,600 | ) |  | (918 | ) |  | (19,518 | )
Comprehensive income (loss) | (21,194 | ) |  | (859 | ) |  | (22,053 | )
Basic net income (loss) per common share | $ | (0.44 | ) |  | $ | (0.03 | ) |  | $ | (0.47 | )
Diluted net income (loss) per common share | $ | (0.44 | ) |  | $ | (0.03 | ) |  | $ | (0.47 | )
| As Originally Reported |  | Adjustment |  | As Revised
Fourth Quarter 2018 |  |  |  |  |
Net sales | $ | 199,477 |  |  | $ | — |  |  | $ | 199,477 |
Cost of sales (exclusive of depreciation and amortization) | 156,713 |  |  | 210 |  |  | 156,923 |
Net income (loss) | (220,189 | ) |  | 2,765 |  |  | (217,424 | )
Comprehensive income (loss) | (219,560 | ) |  | 2,821 |  |  | (216,739 | )
Basic net income (loss) per common share | $ | (5.25 | ) |  | $ | 0.07 |  |  | $ | (5.18 | )
Diluted net income (loss) per common share | $ | (5.25 | ) |  | $ | 0.07 |  |  | $ | (5.18 | )
Third Quarter 2018 |  |  |  |  |
Net sales | $ | 205,683 |  |  | $ | — |  |  | $ | 205,683 |
Cost of sales (exclusive of depreciation and amortization) | 156,408 |  |  | 102 |  |  | 156,510 |
Net income (loss) | (13,784 | ) |  | (102 | ) |  | (13,886 | )
Comprehensive income (loss) | (17,977 | ) |  | (157 | ) |  | (18,134 | )
Basic net income (loss) per common share | $ | (0.48 | ) |  | $ | — |  |  | $ | (0.48 | )
Diluted net income (loss) per common share | $ | (0.48 | ) |  | $ | — |  |  | $ | (0.48 | )
Second Quarter 2018 |  |  |  |  |
Net sales | $ | 196,349 |  |  | $ | 661 |  |  | $ | 197,010 |
Cost of sales (exclusive of depreciation and amortization) | 148,640 |  |  | 948 |  |  | 149,588 |
Net income (loss) | (24,511 | ) |  | (806 | ) |  | (25,317 | )
Comprehensive income (loss) | (40,292 | ) |  | (541 | ) |  | (40,833 | )
Basic net income (loss) per common share | $ | (0.89 | ) |  | $ | (0.02 | ) |  | $ | (0.91 | )
Diluted net income (loss) per common share | $ | (0.89 | ) |  | $ | (0.02 | ) |  | $ | (0.91 | )
First Quarter 2018 |  |  |  |  |
Net sales | $ | 169,148 |  |  | $ | (661 | ) |  | $ | 168,487 |
Cost of sales (exclusive of depreciation and amortization) | 126,444 |  |  | (284 | ) |  | 126,160 |
Net income (loss) | (5,983 | ) |  | (377 | ) |  | (6,360 | )
Comprehensive income (loss) | (518 | ) |  | (372 | ) |  | (890 | )
Basic net income (loss) per common share | $ | (0.22 | ) |  | $ | (0.01 | ) |  | $ | (0.23 | )
Diluted net income (loss) per common share | $ | (0.22 | ) |  | $ | (0.01 | ) |  | $ | (0.23 | )

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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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