CONSOLIDATED QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2011

CONSOLIDATED QUARTERLY FINANCIAL DATA (UNAUDITED)

14. CONSOLIDATED QUARTERLY FINANCIAL DATA (UNAUDITED)

The following is a summary of the unaudited quarterly results of operations for fiscal years 2011, 2010 and 2009 (dollars in thousands, except per share amounts):

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
2011
Net sales	$	221,984		$	287,095		$	336,433		$	341,732
Gross profit		16,501			16,240			13,320			20,659
Net income		3,197			3,302			1,092			7,451
Basic and diluted net income per share(1)		0.05			0.05			0.02			0.11
2010
Net sales	$	78,274		$	149,699		$	170,848		$	241,551
Gross profit		(976	)		5,301			6,467			17,291
Net (loss) income(2)		(139,079	)		(5,602	)		(1,938	)		4,859
Basic and diluted net (loss) income per share(1)(3)		(4.64	)		(0.72	)		(0.03	)		0.07
2009
Net sales	$	77,937		$	86,206		$	88,324		$	85,373
Gross profit		(15,476	)		(5,231	)		(321	)		(1,882	)
Net (loss) income(2)		(28,284	)		(17,935	)		(66,404	)		10,858
Basic and diluted net (loss) income per share(1)(3)		(0.94	)		(0.59	)		(2.23	)		0.15

⁽¹⁾ Net income (loss) per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly net income (loss) per share may differ from annual net income (loss) per share due to rounding.

⁽²⁾ Net (loss) income includes a non-cash (charge) benefit of ($54.0) million, $20.5 million, ($126.8) million, $1.9 million and $3.3 million related to the change in the fair value of the Company’s warrant for the third and fourth quarters of 2009 and the first, second and third quarters of 2010, respectively.

⁽³⁾ Basic and diluted net (loss) income per share includes $1.1 million, $2.2 million, $2.0 million and $1.3 million of preferred stock dividends for the third and fourth quarters of 2009 and the first and second quarters of 2010, respectively. The second quarter of 2010 also includes a $22.1 million loss on early extinguishment of preferred stock.