Selected Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2014

Selected Quarterly Financial Information (unaudited)

Selected Quarterly Financial Information (unaudited)

Note 20 — Selected Quarterly Financial Information (unaudited)

The following table presents selected unaudited financial data for each fiscal quarter of 2014 and 2013. Although unaudited, this information has been prepared on a basis consistent with the Company’s audited Consolidated Financial Statements and, in the opinion of management, reflects all adjustments (consisting only of normal recurring adjustments) that are considered necessary for a fair presentation of this information in accordance with GAAP. Such quarterly results are not necessarily indicative of future results of operations.

	Fiscal 2014									Fiscal 2013
	Q1		Q2		Q3			Q4		Q1		Q2		Q3		Q4
	(in thousands, except per share amounts)
Net sales	$	90,841	$	95,122	$	93,341		$	113,569	$	61,781	$	97,435	$	99,324	$	73,209
Gross profit	$	33,777	$	30,673	$		32,558	$	37,874	$	22,552	$	34,640	$	30,308	$	15,642
Net income (loss)	$	19,160	$	(15,211)	$		(13,977)	$	(56,912)	$	(10,071)	$	(4,081)	$	(6,026)	$	(22,085)
Basic income (loss) per common share	$	0.49	$	(0.39)	$		(0.35)	$	(1.44)	$	(0.26)	$	(0.11)	$	(0.16)	$	(0.57)
Diluted income (loss) per common share	$	0.48	$	(0.39)	$		(0.35)	$	(1.44)	$	(0.26)	$	(0.11)	$	(0.16)	$	(0.57)

Impairment Charge

During the fourth quarter of 2014, the Company recorded a non-cash asset impairment charge of $53.9 million related to its ALD reporting unit. Refer to Note 6, “Goodwill and Intangible Assets,” for additional information.

Acquisition of PSP

During the fourth quarter of 2014, the Company acquired PSP. The results of operations of PSP have been included in the consolidated financial statements since that date. Refer to Note 5, “Business Combinations,” for additional information.

Change in Contingent Consideration

During the first quarter of 2014, the Company recorded a non-cash gain of $29.4 million related to a change in the Company’s assessment of potential future payments related to its ALD reporting unit. Refer to Note 5, “Business Combinations,” for additional information.

Acquisition of ALD

During the fourth quarter of 2013, the Company acquired ALD. The results of operations of ALD have been included in the consolidated financial statements since that date. Refer to Note 5, “Business Combinations,” for additional information.