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Supplementary Information - Quarterly Results of Operations (unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Supplementary Information - Quarterly Results of Operations Unaudited
SUPPLEMENTARY INFORMATION - QUARTERLY RESULTS OF OPERATIONS (unaudited)

The following table summarizes our unaudited quarterly financial data for 2015 and 2014 (in thousands, except per share amounts):
 
Quarter Ended
 
 
 
March 31
 
June 30
 
September 30
 
December 31
 
Total
2015
 
 
 
 
 
 
 
 
 
Net sales
$
96,239

 
$
59,695

 
$
70,690

 
$
109,140

 
$
335,764

Gross profit
53,889

 
30,656

 
36,209

 
52,480

 
173,234

Operating income
17,605

 
3,932

 
6,389

 
12,345

 
40,271

Income from continuing operations
10,859

 
2,219

 
3,873

 
9,852

 
26,803

Income (loss) from discontinued operations
(127
)
 
205

 
(145
)
 
(134
)
 
(201
)
Net income(1),(2)
10,732

 
2,424

 
3,728

 
9,718

 
26,602

Net income per share:
 
 
 
 
 
 
 
 
 
Basic
$
0.34

 
$
0.08

 
$
0.12

 
$
0.31

 
$
0.85

Diluted
0.34

 
0.08

 
0.12

 
0.31

 
0.84

 
 
 
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
 
 
 
Net sales
$
71,903

 
$
48,546

 
$
59,067

 
$
94,931

 
$
274,447

Gross profit
38,481

 
24,780

 
28,795

 
48,519

 
140,575

Operating income
9,001

 
2,379

 
4,281

 
14,493

 
30,154

Income from continuing operations
5,748

 
1,498

 
2,664

 
10,473

 
20,383

Loss from discontinued operations
(374
)
 
(941
)
 
(177
)
 
(96
)
 
(1,588
)
Net income(1)
5,374

 
557

 
2,487

 
10,377

 
18,795

Net income per share:
 
 
 
 
 
 
 
 
 
Basic
$
0.17

 
$
0.02

 
$
0.08

 
$
0.33

 
$
0.60

Diluted
0.17

 
0.02

 
0.08

 
0.33

 
0.59


(1) Net income for the quarters ended December 31, 2015 and 2014 included a $2.4 million and $1.2 million credit, respectively, related to the reversal of a portion of our deferred tax asset valuation allowance.

(2) Net income for the quarter ended December 31, 2015 also included $4.5 million of unusual items including the following: settlement expense related to a licensing arbitration; write-off of nutrition inventory; unrecorded current period royalty revenue and reversal of prior period royalty revenue related to a dispute with the licensee; an accounts receivable reserve related to potentially uncollectible balances from a large sporting goods retailer; and transaction expenses related to the acquisition of Octane.