Interim Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Interim Financial Data (Unaudited)

14. INTERIM FINANCIAL DATA (Unaudited)

	Three Months Ended
	December 31, 2016		September 30, 2016		June 30, 2016		March 31, 2016		December 31, 2015		September 30, 2015		June 30, 2015		March 31, 2015
	(In thousands, except share and per share data)
Net sales		95,322		106,168		146,450		131,676		89,202		94,023		136,779		120,800
Gross profit		38,113		29,945		61,410		57,627		31,955		22,143		52,524		48,247
Net income		12,629		7,787		23,725		23,706		8,086		3,744		18,715		17,553
Basic net income per share	$	0.43	$	0.27	$	0.81	$	0.80	$	0.26	$	0.12	$	0.59	$	0.55
Basic weighted average common shares outstanding		29,318,915		29,295,284		29,264,362		29,697,722		30,766,943		31,227,643		31,735,333		31,683,672
Diluted net income per share	$	0.43	$	0.26	$	0.80	$	0.79	$	0.26	$	0.12	$	0.58	$	0.55
Diluted weighted average common shares outstanding		29,543,842		29,516,718		29,477,870		29,910,292		30,966,682		31,537,010		32,142,939		32,094,828

The Company’s net sales, gross profit and income from operations have historically varied from quarter to quarter. Such variations are often attributable to seasonal trends in the demand for Trex products. The Company has historically experienced lower net sales during the fourth quarter because holidays and adverse weather conditions in certain regions reduce the level of home improvement and construction activity.

The Company elected to early adopt ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (ASU No. 2016-09) in the quarterly period ended December 31, 2016, with adoption as of January 1, 2016. The effect on previously reported data for the quarterly periods ended September 30, June 30, and March 31, 2016 is presented in the below table. Also, see the related discussion in Note 2, “Summary of Significant Accounting Policies: Recently Adopted Accounting Standards,” to these Consolidated Financial Statements.

	Three Months Ended
	September 30, 2016				June 30, 2016				March 31, 2016
	As Reported		Adjusted		As Reported		Adjusted		As Reported		Adjusted
	(In thousands, except share and per share data)
Net income	$	6,898	$	7,787	$	23,279	$	23,725	$	23,402	$	23,706
Basic net income per share	$	0.24	$	0.27	$	0.80	$	0.81	$	0.79	$	0.80
Diluted net income per share	$	0.23	$	0.26	$	0.79	$	0.80	$	0.78	$	0.79
Diluted weighted average common shares outstanding		29,457,653		29,516,718		29,423,845		29,477,870		29,860,730		29,910,292