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Quarterly Operating Results | 12 Months Ended
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Dec. 31, 2015
Quarterly Operating Results [Abstract] |
Quarterly Operating Results | Quarterly Operating Results (in thousands except per share amounts) Unaudited
| Quarter Ended
|  | March 31 |  | June 30 |  | Sep 30 |  | Dec 31
2015 |  |  |  |  |  |  |  |
Sales | $ | 19,545 | $ | 28,198 | $ | 32,246 | $ | 27,681
Gross margins |  | 4,887 |  | 8,539 |  | 10,424 |  | 7,696
Operating (loss) income |  | (5,691) |  | (1,718) |  | 431 |  | (3,528)
Net (loss) income |  | (4,163) |  | (1,028) |  | 1,284 |  | (5,741)
Basic net (loss) income per share | $ | (0.48) | $ | (0.12) | $ | 0.15 | $ | (0.66)
Diluted net (loss) income per share | $ | (0.48) | $ | (0.12) | $ | 0.15 | $ | (0.66)
2014 |  |  |  |  |  |  |  |
Sales | $ | 25,198 | $ | 33,209 | $ | 33,434 | $ | 27,230
Gross margins |  | 8,988 |  | 12,094 |  | 12,013 |  | 9,064
Operating income (loss) |  | (252) |  | 2,406 |  | 2,658 |  | (1,519)
Net income (loss) |  | (141) |  | 1,437 |  | 1,695 |  | (1,029)
Basic net income (loss) per share | $ | (0.02) | $ | 0.17 | $ | 0.20 | $ | (0.12)
Diluted net income (loss) per share | $ | (0.02) | $ | 0.17 | $ | 0.20 | $ | (0.12)
The Company recorded $1.2 million in pension settlement costs in operating expenses in the Consolidated Income Statement related to the wind up of the pension in the UK in the fourth quarter of 2015. Additionally, the Company recorded a $3.7 million additional valuation allowance within income tax expense in the Consolidated Income Statement during the fourth quarter of 2015.

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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=51655806&loc=d3e765-108305 Reference 2: 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=51825399&loc=d3e1280-108306 Reference 3: 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=51655806&loc=d3e725-108305 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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