XML 44 R29.htm IDEA: XBRL DOCUMENT v3.20.4
Quarterly Result of Operations (Unaudited)
12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Result of Operations (Unaudited) QUARTERLY RESULT OF OPERATIONS (UNAUDITED)
Quarter endedMarch 31,
2020
June 30,
2020
September 30,
2020
December 31,
2020
Sales (1)
$79,515 $60,564 $70,736 $92,953 
Gross profit
43,873 28,896 36,298 50,780 
Net (loss) income (2)
(14,823)(8,932)(3,024)27,408 
Net (loss) income per share:
Basic$(0.84)$(0.50)$(0.17)$1.53 
Diluted$(0.84)$(0.50)$(0.17)$1.52 
(1)For the second quarter of 2020, sales were reduced by an incremental $0.6 million sales adjustment related to our GSA Contracts based on the results of the Review conducted by our outside legal counsel and forensic accountants.
(2)During 2020, in connection with the Restructuring Plan, we recorded a pre-tax charge of approximately $13.7 million during the first quarter 2020, $0.6 million during the second quarter, $0.3 million during the third quarter and $1.2 million during the fourth quarter primarily consisting of severance and related benefits, professional fees and other related charges and costs including a non-cash expense of $0.4 million related to the disposal of our Photonics business and 3D Design related assets.

Quarter endedMarch 31,
2019
June 30,
2019
September 30,
2019
December 31,
2019
Sales (1)
$93,617 $93,491 $90,516 $104,141 
Gross profit (2)
53,018 50,741 50,772 43,601 
Net income (loss) (3)
152 (6,405)(6,199)(49,695)
Net income (loss) per share:
Basic$0.01 $(0.37)$(0.36)$(2.85)
Diluted$0.01 $(0.37)$(0.36)$(2.85)
(1)For the second quarter of 2019, sales were reduced by an incremental $5.8 million sales adjustment related to our GSA Contracts based on the results of the Review conducted by our outside legal counsel and forensic accountants.
(2)For the fourth quarter of 2019, gross profit was reduced by a $15.1 million inventory reserve charge primarily driven by the evaluation of our hardware and software product portfolio, which increased our reserve for excess and obsolete inventory.
(3)For the fourth quarter of 2019, we incurred an impairment loss of $35.2 million, which included $21.2 million in goodwill, $10.5 million in intangible assets associated with recent acquisitions, $1.4 million in intangible assets related to capitalized patents, and $2.1 million in other asset write-downs.