Consolidated Statements of Operations Information for Each of Previous Eight Quarters |
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December 31,
2014 |
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September 30,
2014 |
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June 30,
2014 |
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March 31,
2014 |
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December 31,
2013 |
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September 30,
2013 |
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June 30,
2013 |
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March 31,
2013 |
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(in thousands, except
per share amounts) |
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Revenue:
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Product revenue
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$ |
15,393 |
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$ |
15,153 |
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$ |
15,551 |
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$ |
14,335 |
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$ |
10,350 |
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$ |
12,184 |
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$ |
13,014 |
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$ |
11,934 |
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Royalty and other
revenue
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1,000 |
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125 |
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— |
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1,991 |
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5,032 |
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6,638 |
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4,495 |
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4,522 |
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Total revenue
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16,393 |
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15,278 |
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15,551 |
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16,326 |
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15,382 |
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18,822 |
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17,509 |
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16,456 |
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Operating
expenses:
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Cost of product
revenue
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8,084 |
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6,931 |
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6,671 |
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6,335 |
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4,627 |
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5,659 |
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5,298 |
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6,897 |
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Cost of royalty and other
revenue
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— |
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— |
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— |
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— |
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738 |
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724 |
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643 |
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577 |
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Research and
development
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1,328 |
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1,650 |
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1,430 |
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1,201 |
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1,422 |
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1,430 |
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2,306 |
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2,183 |
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Selling, general and
administrative
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4,975 |
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4,471 |
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4,326 |
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3,384 |
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3,367 |
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2,902 |
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3,124 |
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3,308 |
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Contingent consideration
– fair value adjustments
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1,945 |
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10 |
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18 |
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98 |
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45 |
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65 |
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35 |
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(54 |
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Gain on bargain
purchase
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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Total operating
expenses
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16,332 |
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13,062 |
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12,445 |
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11,018 |
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10,199 |
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10,780 |
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11,406 |
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12,911 |
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Loss income from
operations
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61 |
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2,216 |
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3,106 |
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5,308 |
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5,183 |
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8,042 |
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6,103 |
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3,545 |
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Investment
income
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59 |
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64 |
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85 |
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102 |
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98 |
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76 |
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65 |
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62 |
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Interest expense
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(12 |
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(11 |
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(13 |
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(14 |
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(12 |
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(12 |
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(12 |
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(14 |
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Other income
(expense)
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134 |
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(14 |
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65 |
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2 |
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(54 |
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37 |
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(122 |
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29 |
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Income before income
taxes
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242 |
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2,255 |
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3,243 |
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5,398 |
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5,215 |
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8,143 |
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6,034 |
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3,622 |
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Income tax
provision
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640 |
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789 |
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418 |
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1,121 |
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1,887 |
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2,255 |
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1,495 |
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1,284 |
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Net income
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$ |
(398 |
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$ |
1,466 |
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$ |
2,825 |
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$ |
4,277 |
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$ |
3,328 |
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$ |
5,888 |
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$ |
4,539 |
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$ |
2,338 |
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Earnings per
share:
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Basic
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$ |
(0.01 |
) |
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$ |
0.04 |
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$ |
0.09 |
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$ |
0.13 |
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$ |
0.10 |
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$ |
0.18 |
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$ |
0.14 |
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$ |
0.07 |
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Diluted
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$ |
(0.01 |
) |
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$ |
0.04 |
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$ |
0.09 |
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$ |
0.13 |
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$ |
0.10 |
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$ |
0.18 |
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$ |
0.14 |
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$ |
0.07 |
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Weighted average shares
outstanding:
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Basic
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32,747 |
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32,677 |
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32,234 |
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31,963 |
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31,916 |
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31,858 |
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31,644 |
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31,241 |
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Diluted
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32,747 |
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33,327 |
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33,076 |
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31,855 |
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32,708 |
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32,552 |
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32,317 |
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31,855 |
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