Selected Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2016

Selected Quarterly Financial Information (unaudited)

Selected Quarterly Financial Information (unaudited)

Note 19 — Selected Quarterly Financial Information (unaudited)

The following table presents selected unaudited financial data for each fiscal quarter of 2016 and 2015. 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 2016								Fiscal 2015
	Q1		Q2		Q3		Q4		Q1		Q2		Q3		Q4
	(in thousands, except per share amounts)
Net sales	$	78,011	$	75,348	$	85,482	$	93,609	$	98,341	$	131,410	$	140,744	$	106,543
Gross profit	31,956		31,439		33,455		36,008		35,136		49,069		54,250		38,786
Net income (loss)	(15,533)		(32,082)		(69,598)		(4,998)		(19,110)		(8,386)		5,306		(9,788)
Basic income (loss) per common share	(0.40)		(0.82)		(1.78)		(0.13)		(0.48)		(0.21)		0.13		(0.25)
Diluted income (loss) per common share	(0.40)		(0.82)		(1.78)		(0.13)		(0.48)		(0.21)		0.13		(0.25)

Impairment Charge

During the third quarter of 2016, the Company decided to significantly reduce future investments in its ALD technology development and, as a result, recorded a charge for impairment of its ALD assets, including $54.3 million for the full impairment of the intangible purchased ALD technology. The impairment charges were based on projected cash flows that required the use of unobservable inputs. Refer to Note 6, “Goodwill and Intangible Assets,” for additional information.