(in thousands, except per common share data)



	Quarter ended
	Dec. 31			March 31			June 30			Sept. 30
Fiscal 2016
Revenue	$	50,259		$	50,162		$	52,130		$	50,454
Gross profit	24,357			24,742			25,977			24,604
Income from continuing operations (1)(2)	3,131			2,226			4,277			3,844
Income (loss) from discontinued operations, after income taxes	3,319			(89		)	—			—
Net income (1)(2)	6,450			2,137			4,277			3,844
Basic net income per common share:
Continuing operations	0.12			0.09			0.17			0.15
Discontinued operations	0.13			—			—			—
Net income (4)	0.25			0.08			0.17			0.15
Diluted net income per common share:
Continuing operations	0.12			0.09			0.16			0.14
Discontinued operations	0.13			—			—			—
Net income (4)	0.25			0.08			0.16			0.14

Fiscal 2015
Revenue	$	47,218		$	50,401		$	52,055		$	54,173
Gross profit	22,557			23,235			25,024			26,305
Income from continuing operations (1)(2)(3)	1,018			1,662			3,085			3,668
Loss from discontinued operations, after income taxes	(1,357		)	(216		)	(589		)	(683		)
Net (loss) income (1)(2)(3)	(339		)	1,446			2,496			2,985
Basic net income (loss) per common share:
Continuing operations	0.04			0.07			0.12			0.15
Discontinued operations	(0.06		)	(0.01		)	(0.02		)	(0.03		)
Net (loss) income (4)	(0.01		)	0.06			0.10			0.12
Diluted net income (loss) per common share:
Continuing operations	0.04			0.07			0.12			0.14
Discontinued operations	(0.06		)	(0.01		)	(0.02		)	(0.03		)
Net (loss) income (4)	(0.01		)	0.06			0.10			0.12

(1)

During fiscal 2016 and 2015, we recorded net tax benefits of $1.5 million and $0.8 million, respectively. We recorded a benefit of $0.7 million in the first quarter of fiscal 2016 resulting from the reinstatement of the research and development tax credit for calendar year 2015, reversal of income tax reserves due to the expiration of the statute of limitations from various U.S. and foreign tax jurisdictions and reversal of tax reserves due to the resolution of tax audits. In the third quarter of fiscal 2016, we recorded a tax benefit of $0.5 million primarily due to the filing of an amended income tax return resulting in a domestic refund related to qualified manufacturing activities. In the fourth quarter of fiscal 2016, we recorded a net tax benefit of $0.2 million, primarily due to the filing of an additional amended income tax return resulting in an additional domestic refund related to qualified manufacturing activities, partially offset by an adjustment of the state rate on net deferred tax assets. We recorded net tax benefits of $0.5 million in the first quarter of fiscal 2015 resulting from the reinstatement of the research and development tax credit for calendar year 2014, reversal of income tax reserves due to the expiration of the statute of limitations from various U.S. and foreign tax jurisdictions and reversal of tax reserves due to the resolution of tax audits. In the third quarter of fiscal 2015, we recorded a tax benefit of $0.4 million primarily due to the reversal of reserves for state research and development tax credits and transfer pricing, partially offset by an adjustment of the state rate on net deferred tax assets.

18. QUARTERLY FINANCIAL DATA (UNAUDITED)(CONTINUED)


(2)	For continuing operations, we recorded business restructuring charges of $0.7 million ($0.4 million after tax) in the first quarter of fiscal 2016, $0.1 million ($0.1 million after tax) in the second quarter of fiscal 2016 and $0.4 million ($0.3 million after tax) in the second quarter of fiscal 2015.

(3)

During fiscal 2015, we recorded a gain of $1.4 million from the settlement of a property and casualty insurance claim related to the replacement of our capital equipment destroyed in the fire at our subcontract manufacturer's location. We recorded $1.0 million ($0.6 million after tax) during the second quarter of fiscal 2015 and $0.4 million ($0.3 million after tax) during the third quarter of fiscal 2015.


(4)	Earnings per share are calculated by line item and may not add due to the use of rounded amounts.