Selected Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2019

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 2019 and 2018. 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 2019								Fiscal 2018
	Q1		Q2		Q3		Q4		Q1		Q2		Q3		Q4
	(in thousands, except per share amounts)
Net sales	$	99,371	$	97,822	$	108,954	$	113,202	$	158,574	$	157,779	$	126,757	$	98,972
Gross profit		34,716		36,285		42,223		44,970		56,680		55,395		46,385		35,259
Net income (loss)		(18,530)		(15,565)		(11,767)		(32,871)		(15,827)		(237,634)		(8,953)		(144,674)
Basic income (loss) per common share		(0.40)		(0.33)		(0.25)		(0.69)		(0.34)		(5.02)		(0.19)		(3.11)
Diluted income (loss) per common share		(0.40)		(0.33)		(0.25)		(0.69)		(0.34)		(5.02)		(0.19)		(3.11)

Asset Impairments

During the fourth quarter of 2019, the Company recorded a non-cash impairment charge of $21 million related to its equity investment in Kateeva which is included in “Other income (expense), net” in the Consolidated Statements of Operations, as well as a non-cash impairment charge of $4.0 million related to the classification of a disposal group as held for sale which is included in “Asset impairment” in the Consolidated Statements of Operations. Refer to Note 4, “Investments,” and Note 5, “Acquisitions and Dispositions,” for additional information.

During the second quarter of 2018, the Company recorded non-cash impairment charges related to the Ultratech asset group of $216.4 million and $35.9 million for definite-lived intangible assets and in-process research and development assets, respectively. Additionally, during the fourth quarter of 2018, the Company recorded a non-cash goodwill impairment charge of $122.8 million. Refer to Note 6, “Goodwill and Intangible Assets,” for additional information.