Quarterly Financial Data

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial DataThe following table sets forth selected quarterly financial data for 2020 and 2019. Amounts for the fourth quarter of 2020 reflect the recording of out of period adjustments related to certain accruals recorded in prior quarters, including accruals of rebates, which were identified subsequent to the filings of the financial statements for those periods. The reflection of these adjustments increased net sales and gross profit by $0.8 million and decreased net loss by $1.3 million in the fourth quarter. The adjustments decreased basic and diluted net loss per common share in the fourth quarter by $0.01. All identified adjustments exclusively related to 2020 and did not affect any reported amounts for periods prior to 2020.

Amounts presented are unaudited, in thousands, except per share amounts:


		First Quarter		Second Quarter		Third Quarter (1)		Fourth Quarter
Net sales	2020	$	61,736	$	53,647	$	64,303	$	68,548
	2019	66,555		67,437		88,863		76,400

Gross profit	2020	51,711		45,449		54,014		57,730
	2019	59,137		57,688		75,658		63,691

Income tax provision benefit (expense)	2020	11,304		(27)		(38)		1,020
	2019	(42)		(42)		309		(220)

Net (loss) income	2020	(4,821)		(8,466)		(19,417)		(16,580)
	2019	(13,273)		(17,210)		12,379		(7,476)

Net (loss) income per common share - basic	2020	$	(0.04)	$	(0.08)	$	(0.48)	$	(0.17)
	2019	$	(0.12)	$	(0.16)	$	0.12	$	(0.07)

Net (loss) income per common share - diluted	2020	$	(0.04)	$	(0.08)	$	(0.48)	$	(0.17)
	2019	$	(0.12)	$	(0.16)	$	0.11	$	(0.07)

(1) - Q3 2019 amounts include the transition adjustment discussed in Note 2.