QUARTERLY RESULTS (UNAUDITED) (Notes)

12 Months Ended

Dec. 31, 2021

Quarterly Financial Information Disclosure [Abstract]

The following information has been derived from unaudited consolidated financial statements that, in the opinion of management, include all normal recurring adjustments necessary for a fair presentation of such information.


(In thousands, except per share data)	Quarter Ended
	2021								2020
	Dec. 31		Sept. 30		June 30		Mar. 31		Dec. 31		Sept. 30		June 30		Mar. 31
Net revenues	$	119,064	$	101,640	$	94,876	$	94,364	$	104,301	$	90,431	$	79,281	$	86,453
Cost of revenues	40,717		35,737		34,738		32,948		38,951		32,174		27,719		33,302
Gross profit	78,347		65,903		60,138		61,416		65,350		58,257		51,562		53,151
Operating expenses:
Research and development	16,920		17,129		16,093		15,417		14,902		13,623		13,068		15,425
Marketing and selling	28,983		24,413		21,354		20,744		22,660		19,998		19,690		25,289
General and administrative	15,158		14,901		13,678		13,635		12,908		10,796		10,604		12,744

Restructuring costs (recoveries), net	115		(88)		15		1,074		4,038		723		140		145
Total operating expenses	61,176		56,355		51,140		50,870		54,508		45,140		43,502		53,603
Operating income (loss)	17,171		9,548		8,998		10,546		10,842		13,117		8,060		(452)
Interest expense, net	(1,609)		(1,646)		(1,783)		(2,118)		(4,565)		(4,566)		(5,616)		(5,255)
Other income (expense), net	389		7,864		150		(3,555)		636		143		118		(28)
Income (loss) before income taxes	15,951		15,766		7,365		4,873		6,913		8,694		2,562		(5,735)
Provision for (benefit from) income taxes	735		991		359		482		(174)		707		717		122
Net income (loss)	$	15,216	$	14,775	$	7,006	$	4,391	$	7,087	$	7,987	$	1,845	$	(5,857)

Net income (loss) per share – basic	$	0.34	$	0.32	$	0.15	$	0.10	$	0.16	$	0.18	$	0.04	$	(0.14)
Net income (loss) per share – diluted	$	0.33	$	0.32	$	0.15	$	0.10	$	0.16	$	0.18	$	0.04	$	(0.13)

Weighted-average common shares outstanding – basic	45,061		45,564		45,211		44,559		44,288		44,019		43,719		43,254
Weighted-average common shares outstanding – diluted	45,773		46,428		46,550		46,204		45,541		44,758		44,180		44,101