Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

Quarterly Financial Data (Unaudited)

The following tables summarize MRV's Consolidated Statements of Operations for 2014 (in thousands):

Three months ended:	March 31, 2014			June 30, 2014			September 30, 2014			December 31, 2014
Revenue	$	42,318		$	43,124		$	43,170		$	43,444
Cost of sales	29,067			28,342			28,454			30,415
Gross profit	13,251			14,782			14,716			13,029
Operating expenses:
Product development and engineering	5,578			5,392			5,060			4,803
Selling, general and administrative	11,522			10,516			10,080			10,577
Total operating expenses	17,100			15,908			15,140			15,380
Operating loss	(3,849		)	(1,126		)	(424		)	(2,351		)
Interest expense	(150		)	(40		)	(116		)	(23		)
Other income (loss), net	33			(420		)	227			387
Loss before income taxes	(3,966		)	(1,586		)	(313		)	(1,987		)
Provision for income taxes	251			681			727			2,644
Net loss	$	(4,217	)	$	(2,267	)	$	(1,040	)	$	(4,631	)
Net loss per share — basic and diluted	$	(0.58	)	$	(0.31	)	(0.14		)	$	(0.63	)
Basic and diluted weighted average shares	7,283			7,360			7,362			7,368

The above table includes a $1.9 million increase in the provision for income taxes for the three months ended December 31, 2014 related to an increase in the Company's valuation allowance on deferred tax assets. See Note 6, Income Taxes.

The following tables summarize MRV's Consolidated Statements of Operations for 2013 (in thousands):

Three months ended:	March 31, 2013			June 30, 2013			September 30, 2013			December 31, 2013
Revenue	$	38,905		$	38,175		$	38,385		$	50,736
Cost of sales	25,878			24,803			23,411			34,116
Gross profit	13,027			13,372			14,974			16,620
Operating expenses:
Product development and engineering	4,648			4,454			4,627			5,652
Selling, general and administrative	12,392			9,453			10,308			10,840
Total operating expenses	17,040			13,907			14,935			16,492
Operating income (loss)	(4,013		)	(535		)	39			128
Interest expense	(132		)	(241		)	(41		)	(112		)
Other income (loss), net	17			(102		)	(132		)	(190		)
Loss before income taxes	(4,128		)	(878		)	(134		)	(174		)
Provision for income taxes	306			115			12			1,075
Net loss	$	(4,434	)	$	(993	)	$	(146	)	$	(1,249	)
Net loss per share — basic and diluted	$	(0.59	)	$	(0.13	)	$	(0.02	)	$	(0.17	)
Basic and diluted weighted average shares	7,568			7,585			7,522			7,443