The following tables summarize MRV's consolidated statements of operations for 2015 (in thousands):



Three months ended:	March 31, 2015			June 30, 2015			September 30, 2015			December 31, 2015
Revenue	$	22,185		$	24,519		$	22,933		$	18,562
Cost of sales	10,641			12,560			10,819			8,599
Gross profit	11,544			11,959			12,114			9,963
Operating expenses:
Product development and engineering	5,125			5,310			4,901			5,112
Selling, general and administrative	7,736			7,379			7,281			6,570
Total operating expenses	12,861			12,689			12,182			11,682
Operating loss	(1,317		)	(730		)	(68		)	(1,719		)
Interest expense	(14		)	(22		)	(11		)	(8		)
Other income (loss), net	81			(296		)	188			(21		)
Income (loss) from continuing operations before provision for income taxes	(1,250		)	(1,048		)	109			(1,748		)
Provision (benefit) for income taxes	50			77			(39		)	2,783
Income (loss) from continuing operations	(1,300		)	(1,125		)	148			(4,531		)
Gain (loss) from discontinued operations	232			844			738			(2,185		)
Net income (loss)	$	(1,068	)	$	(281	)	$	886		$	(6,716	)

Net income (loss) per share — basic
From continuing operations	$	(0.18	)	$	(0.16	)	$	0.02		$	(0.65	)
From discontinued operations	0.03			0.12			0.11			(0.31		)
Net income (loss) per share — basic	$	(0.15	)	$	(0.04	)	$	0.13		$	(0.96	)

Net income (loss) per share — diluted
From continuing operations	$	(0.18	)	$	(0.16	)	$	0.02		$	(0.65	)
From discontinued operations	0.03			0.12			0.11			(0.31		)
Net income (loss) per share — diluted	$	(0.15	)	$	(0.04	)	$	0.13		$	(0.96	)

Basic weighted average shares	7,131			6,988			6,978			6,980
Diluted weighted average shares	7,131			6,988			7,014			6,980

The above table includes a $2.6 million increase in the provision for income taxes for the three months ended December 31, 2015 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 2014 (in thousands):



Three months ended:	March 31, 2014			June 30, 2014			September 30, 2014			December 31, 2014
Revenue	$	22,265		$	21,770		$	21,933		$	20,570
Cost of sales	11,506			10,584			10,870			10,977
Gross profit	10,759			11,186			11,063			9,593
Operating expenses:
Product development and engineering	5,578			5,392			5,060			4,803
Selling, general and administrative	9,877			8,624			8,185			8,394
Total operating expenses	15,455			14,016			13,245			13,197
Operating loss	(4,696		)	(2,830		)	(2,182		)	(3,604		)
Interest income (expense)	(34		)	20			(39		)	29
Other income (loss), net	75			(29		)	350			275
Loss from continuing operations before provision for income taxes	(4,655		)	(2,839		)	(1,871		)	(3,300		)
Provision (benefit) for income taxes	(28		)	135			71			1,695
Income (loss) from continuing operations	(4,627		)	(2,974		)	(1,942		)	(4,995		)
Income (loss) from discontinued operations	410			707			902			364
Net loss	$	(4,217	)	$	(2,267	)	$	(1,040	)	$	(4,631	)

Net income (loss) per share — basic
From continuing operations	$	(0.64	)	$	(0.40	)	$	(0.26	)	$	(0.68	)
From discontinued operations	0.06			0.10			0.12			0.05
Net income (loss) per share — basic	$	(0.58	)	$	(0.30	)	$	(0.14	)	$	(0.63	)

Net income (loss) per share — diluted
From continuing operations	$	(0.64	)	$	(0.40	)	$	(0.26	)	$	(0.68	)
From discontinued operations	0.06			0.10			0.12			0.05
Net income (loss) per share — diluted	$	(0.58	)	$	(0.30	)	$	(0.14	)	$	(0.63	)

Basic weighted average shares	7,283			7,360			7,362			7,368
Diluted weighted average shares	7,283			7,360			7,362			7,368