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Quarterly Financial Information
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information [Abstract]  
Quarterly Financial Information

Note 15 – Quarterly Financial Information (Unaudited)

 

Summarized quarterly financial information for 2018 and 2017 are as follows (in thousands except share data):





 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Quarters Ended



 

 

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,



 

 

2018

 

 

      2018

 

 

2018

 

 

2018

Revenues

 

$

 6,867 

 

$

 7,066 

 

$

 6,867 

 

$

 5,435 

Gross profit

 

$

 1,980 

 

$

 106 

 

$

 2,379 

 

$

 (471)

Net income (loss) before income tax

 

$

 (2,081)

 

$

 (5,065)

 

$

 63 

 

$

 (2,459)

Net loss

 

$

 (2,081)

 

$

 (5,065)

 

$

 63 

 

$

 (2,459)

Net loss per share - basic

 

$

 (0.05)

 

$

 (0.11)

 

$

 -

 

$

 (0.05)

Net loss per share - diluted

 

$

 (0.05)

 

$

 (0.11)

 

$

 -

 

$

 (0.05)

Weighted average number of shares outstanding - basic

 

 

 42,255,189 

 

 

 45,111,273 

 

 

 45,149,717 

 

 

 45,161,273 

Weighted average number of shares outstanding - diluted

 

 

 42,255,189 

 

 

 45,111,273 

 

 

 45,265,370 

 

 

 45,161,273 



 

 

 

 

 

 

 

 

 

 

 

 



 

Quarters Ended



 

 

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,



 

 

2017

 

 

2017

 

 

2017

 

 

2017

Revenues

 

$

 6,069 

 

$

 5,260 

 

$

 4,280 

 

$

 6,422 

Gross profit

 

$

 1,818 

 

$

 1,249 

 

$

 278 

 

$

 1,779 

Net loss before income tax

 

$

 (1,999)

 

$

 (2,322)

 

$

 (2,587)

 

$

 (1,087)

Net loss

 

$

 (1,999)

 

$

 (2,322)

 

$

 (2,587)

 

$

 (875)

Net loss per share - basic

 

$

 (0.06)

 

$

 (0.08)

 

$

 (0.09)

 

$

 (0.03)

Net loss per share - diluted

 

$

 (0.06)

 

$

 (0.08)

 

$

 (0.09)

 

$

 (0.03)

Weighted average number of shares outstanding - basic

 

 

 31,628,997 

 

 

 33,019,478 

 

 

 34,972,589 

 

 

 34,989,530 

Weighted average number of shares outstanding - diluted

 

 

 31,628,997 

 

 

 33,019,478 

 

 

 34,972,589 

 

 

 34,989,530 



(1)

During preparation of its 2017 audited financial statements, the Company determined that common stock purchase warrants issued in May 2017, which were originally classified as equity instruments, should have been accounted for as a liability with subsequent changes in fair value reflected in the consolidated statement of operations.  The unaudited results for the quarters ended June 30, and September 30, 2017 presented above, reflect an expense of $51 thousand and income of $405 thousand, respectively, related to changes in the fair value of this liability.  Accordingly, the second and third quarter 2017 results presented above differ from the unaudited results originally filed for these periods.