Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Summary of Unaudited Quarterly Results of Operations

The following tables present the quarterly results of operations for the years ended December 31, 2019 and 2018.

2019	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Net sales	$	213,256		$	221,666		$	213,897		$	198,632
Cost of sales (exclusive of depreciation and amortization)	162,187			164,099			161,074			154,279
Net income (loss)	(19,518		)	(7,283		)	(5,855		)	(14,085		)
Comprehensive income (loss)	(22,053		)	(15,742		)	(17,976		)	(4,210		)
Basic net income (loss) per common share	$	(0.47	)	$	(0.17	)	$	(0.14	)	$	(0.35	)
Diluted net income (loss) per common share	$	(0.47	)	$	(0.17	)	$	(0.14	)	$	(0.35	)

2018	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Net sales	$	168,487		$	197,010		$	205,683		$	199,477
Cost of sales (exclusive of depreciation and amortization)	126,160			149,588			156,510			156,923
Net income (loss)	(6,360		)	(25,317		)	(13,886		)	(217,424		)
Comprehensive income (loss)	(890		)	(40,833		)	(18,134		)	(216,739		)
Basic net income (loss) per common share	$	(0.23	)	$	(0.91	)	$	(0.48	)	$	(5.18	)
Diluted net income (loss) per common share	$	(0.23	)	$	(0.91	)	$	(0.48	)	$	(5.18	)

As further described in Note 2, during 2019 we identified misstatements in our previously issued financial statements which we are correcting through the revision of our previously issued financial statements. The effect of the revision on the 2019 and 2018 previously issued unaudited quarterly financial results is presented in the tables below. The revision of our 2019 quarterly financial statements will be effected in connection with the prospective issuance of 2020 quarterly filings on Form 10-Q.

	As Originally Reported			Adjustment			As Revised
Third Quarter 2019
Net sales	$	213,897		$	—		$	213,897
Cost of sales (exclusive of depreciation and amortization)	160,816			258			161,074
Net income (loss)	(5,597		)	(258		)	(5,855		)
Comprehensive income (loss)	(17,988		)	12			(17,976		)
Basic net income (loss) per common share	$	(0.13	)	$	(0.01	)	$	(0.14	)
Diluted net income (loss) per common share	$	(0.13	)	$	(0.01	)	$	(0.14	)
Second Quarter 2019
Net sales	$	221,666		$	—		$	221,666
Cost of sales (exclusive of depreciation and amortization)	163,513			586			164,099
Net income (loss)	(6,697		)	(586		)	(7,283		)
Comprehensive income (loss)	(15,093		)	(649		)	(15,742		)
Basic net income (loss) per common share	$	(0.16	)	$	(0.01	)	$	(0.17	)
Diluted net income (loss) per common share	$	(0.16	)	$	(0.01	)	$	(0.17	)
First Quarter 2019
Net sales	$	213,256		$	—		$	213,256
Cost of sales (exclusive of depreciation and amortization)	161,269			918			162,187
Net income (loss)	(18,600		)	(918		)	(19,518		)
Comprehensive income (loss)	(21,194		)	(859		)	(22,053		)
Basic net income (loss) per common share	$	(0.44	)	$	(0.03	)	$	(0.47	)
Diluted net income (loss) per common share	$	(0.44	)	$	(0.03	)	$	(0.47	)

	As Originally Reported			Adjustment			As Revised
Fourth Quarter 2018
Net sales	$	199,477		$	—		$	199,477
Cost of sales (exclusive of depreciation and amortization)	156,713			210			156,923
Net income (loss)	(220,189		)	2,765			(217,424		)
Comprehensive income (loss)	(219,560		)	2,821			(216,739		)
Basic net income (loss) per common share	$	(5.25	)	$	0.07		$	(5.18	)
Diluted net income (loss) per common share	$	(5.25	)	$	0.07		$	(5.18	)
Third Quarter 2018
Net sales	$	205,683		$	—		$	205,683
Cost of sales (exclusive of depreciation and amortization)	156,408			102			156,510
Net income (loss)	(13,784		)	(102		)	(13,886		)
Comprehensive income (loss)	(17,977		)	(157		)	(18,134		)
Basic net income (loss) per common share	$	(0.48	)	$	—		$	(0.48	)
Diluted net income (loss) per common share	$	(0.48	)	$	—		$	(0.48	)
Second Quarter 2018
Net sales	$	196,349		$	661		$	197,010
Cost of sales (exclusive of depreciation and amortization)	148,640			948			149,588
Net income (loss)	(24,511		)	(806		)	(25,317		)
Comprehensive income (loss)	(40,292		)	(541		)	(40,833		)
Basic net income (loss) per common share	$	(0.89	)	$	(0.02	)	$	(0.91	)
Diluted net income (loss) per common share	$	(0.89	)	$	(0.02	)	$	(0.91	)
First Quarter 2018
Net sales	$	169,148		$	(661	)	$	168,487
Cost of sales (exclusive of depreciation and amortization)	126,444			(284		)	126,160
Net income (loss)	(5,983		)	(377		)	(6,360		)
Comprehensive income (loss)	(518		)	(372		)	(890		)
Basic net income (loss) per common share	$	(0.22	)	$	(0.01	)	$	(0.23	)
Diluted net income (loss) per common share	$	(0.22	)	$	(0.01	)	$	(0.23	)

The following tables present the quarterly results of operations for the years ended December 31, 2019 and 2018.

2019	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Net sales	$	213,256		$	221,666		$	213,897		$	198,632
Cost of sales (exclusive of depreciation and amortization)	162,187			164,099			161,074			154,279
Net income (loss)	(19,518		)	(7,283		)	(5,855		)	(14,085		)
Comprehensive income (loss)	(22,053		)	(15,742		)	(17,976		)	(4,210		)
Basic net income (loss) per common share	$	(0.47	)	$	(0.17	)	$	(0.14	)	$	(0.35	)
Diluted net income (loss) per common share	$	(0.47	)	$	(0.17	)	$	(0.14	)	$	(0.35	)

2018	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Net sales	$	168,487		$	197,010		$	205,683		$	199,477
Cost of sales (exclusive of depreciation and amortization)	126,160			149,588			156,510			156,923
Net income (loss)	(6,360		)	(25,317		)	(13,886		)	(217,424		)
Comprehensive income (loss)	(890		)	(40,833		)	(18,134		)	(216,739		)
Basic net income (loss) per common share	$	(0.23	)	$	(0.91	)	$	(0.48	)	$	(5.18	)
Diluted net income (loss) per common share	$	(0.23	)	$	(0.91	)	$	(0.48	)	$	(5.18	)

Schedule of Error Corrections and Prior Period Adjustments

	Year Ended December 31, 2018
	As Originally Reported			Adjustment			As Revised
Cost of sales (exclusive of depreciation and amortization)	$	588,205		$	976		$	589,181
Income (loss) from operations	(178,888		)	(976		)	(179,864		)
Loss before (provision) benefit for income taxes and share of net income from joint venture	(261,034		)	(976		)	(262,010		)
Income tax benefit (expense)	10,957			2,456			13,413
Income (loss) from continuing operations	(264,467		)	1,480			(262,987		)
Net income (loss)	(264,467		)	1,480			(262,987		)
Foreign currency translation gain (loss)	(13,880		)	271			(13,609		)
Comprehensive income (loss)	(278,347		)	1,751			(276,596		)
Basic net income (loss) per share	$	(8.35	)	$	0.05		$	(8.30	)
Diluted net income (loss) per share	$	(8.35	)	$	0.05		$	(8.30	)

The following table presents the effect of the correction of the misstatements on the Consolidated Balance Sheet as of December 31, 2018.

	As of December 31, 2018
	As Originally Reported			Adjustment			As Revised
Inventories	$	122,615		$	(1,690	)	$	120,925
Income tax receivable	946			1,331			2,277
Other current assets	21,901			(309		)	21,592
Total current assets	296,871			(668		)	296,203
Total assets	1,501,570			(668		)	1,500,902
Deferred tax liabilities	93,482			(1,644		)	91,838
Total liabilities	1,083,275			(1,644		)	1,081,631
Additional paid-in capital	511,545			(2,890		)	508,655
Accumulated deficit	(62,046		)	3,555			(58,491		)
Accumulated other comprehensive income (loss)	(31,625		)	311			(31,314		)
Total stockholders' equity	418,295			976			419,271
Total liabilities and stockholders' equity	1,501,570			(668		)	1,500,902

The following table presents the effect of the correction of the misstatements on the Consolidated Statements of Stockholders’ Equity.

	As Originally Reported			Adjustment			As Revised
As of and for the year ended December 31, 2017
Net income (loss)	$	163,052		$	(815	)	$	162,237
Retained earnings	211,080			(815		)	210,265
Foreign currency translation gain (loss)	22,094			40			22,134
Accumulated other comprehensive income (loss)	(17,745		)	40			(17,705		)
Total stockholders' equity	486,104			(775		)	485,329
As of and for the year ended December 31, 2018
Additional paid-in capital	$	511,545		$	(2,890	)	$	508,655
Net income (loss)	$	(264,467	)	$	1,480		$	(262,987	)
Accumulated deficit	(62,046		)	3,555			(58,491		)
Foreign currency translation gain (loss)	(13,880		)	271			(13,609		)
Accumulated other comprehensive income (loss)	(31,625		)	311			(31,314		)
Total stockholders' equity	418,295			976			419,271

The following table presents the effect of the correction of the misstatements on the Consolidated Statements of Cash Flows.

	Year Ended December 31, 2017
	As Originally Reported			Adjustment			As Revised
Net income (loss)	$	163,052		$	(815	)	$	162,237
Changes in operating assets and liabilities, net of acquisitions:
Inventories	(10,278		)	1,334			(8,944		)
Other	(1,076		)	(519		)	(1,595		)

	Year Ended December 31, 2018
	As Originally Reported			Adjustment			As Revised
Net income (loss)	$	(264,467	)	$	1,480		$	(262,987	)
Deferred income taxes	(20,758		)	(1,644		)	(22,402		)
Changes in operating assets and liabilities, net of acquisitions:
Inventories	(16,872		)	664			(16,208		)
Income taxes receivable and payable, net	40,946			(1,331		)	39,615
Other	(1,310		)	831			(479		)

	As Originally Reported			Adjustment			As Revised
Third Quarter 2019
Net sales	$	213,897		$	—		$	213,897
Cost of sales (exclusive of depreciation and amortization)	160,816			258			161,074
Net income (loss)	(5,597		)	(258		)	(5,855		)
Comprehensive income (loss)	(17,988		)	12			(17,976		)
Basic net income (loss) per common share	$	(0.13	)	$	(0.01	)	$	(0.14	)
Diluted net income (loss) per common share	$	(0.13	)	$	(0.01	)	$	(0.14	)
Second Quarter 2019
Net sales	$	221,666		$	—		$	221,666
Cost of sales (exclusive of depreciation and amortization)	163,513			586			164,099
Net income (loss)	(6,697		)	(586		)	(7,283		)
Comprehensive income (loss)	(15,093		)	(649		)	(15,742		)
Basic net income (loss) per common share	$	(0.16	)	$	(0.01	)	$	(0.17	)
Diluted net income (loss) per common share	$	(0.16	)	$	(0.01	)	$	(0.17	)
First Quarter 2019
Net sales	$	213,256		$	—		$	213,256
Cost of sales (exclusive of depreciation and amortization)	161,269			918			162,187
Net income (loss)	(18,600		)	(918		)	(19,518		)
Comprehensive income (loss)	(21,194		)	(859		)	(22,053		)
Basic net income (loss) per common share	$	(0.44	)	$	(0.03	)	$	(0.47	)
Diluted net income (loss) per common share	$	(0.44	)	$	(0.03	)	$	(0.47	)

	As Originally Reported			Adjustment			As Revised
Fourth Quarter 2018
Net sales	$	199,477		$	—		$	199,477
Cost of sales (exclusive of depreciation and amortization)	156,713			210			156,923
Net income (loss)	(220,189		)	2,765			(217,424		)
Comprehensive income (loss)	(219,560		)	2,821			(216,739		)
Basic net income (loss) per common share	$	(5.25	)	$	0.07		$	(5.18	)
Diluted net income (loss) per common share	$	(5.25	)	$	0.07		$	(5.18	)
Third Quarter 2018
Net sales	$	205,683		$	—		$	205,683
Cost of sales (exclusive of depreciation and amortization)	156,408			102			156,510
Net income (loss)	(13,784		)	(102		)	(13,886		)
Comprehensive income (loss)	(17,977		)	(157		)	(18,134		)
Basic net income (loss) per common share	$	(0.48	)	$	—		$	(0.48	)
Diluted net income (loss) per common share	$	(0.48	)	$	—		$	(0.48	)
Second Quarter 2018
Net sales	$	196,349		$	661		$	197,010
Cost of sales (exclusive of depreciation and amortization)	148,640			948			149,588
Net income (loss)	(24,511		)	(806		)	(25,317		)
Comprehensive income (loss)	(40,292		)	(541		)	(40,833		)
Basic net income (loss) per common share	$	(0.89	)	$	(0.02	)	$	(0.91	)
Diluted net income (loss) per common share	$	(0.89	)	$	(0.02	)	$	(0.91	)
First Quarter 2018
Net sales	$	169,148		$	(661	)	$	168,487
Cost of sales (exclusive of depreciation and amortization)	126,444			(284		)	126,160
Net income (loss)	(5,983		)	(377		)	(6,360		)
Comprehensive income (loss)	(518		)	(372		)	(890		)
Basic net income (loss) per common share	$	(0.22	)	$	(0.01	)	$	(0.23	)
Diluted net income (loss) per common share	$	(0.22	)	$	(0.01	)	$	(0.23	)