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Selected Quarterly Financial Data
 12 Months Ended
Dec. 31, 2013
Selected Quarterly Financial Data [Abstract]  
Selected Quarterly Financial Data

Note 13: Selected Quarterly Financial Data (unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First quarter

 

Second quarter

 

Third quarter

 

Fourth quarter

(dollars in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

2013 Data:

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$
49,135 

 

$
42,887 

 

$
48,460 

 

$
40,286 

Gross margin

 

$
4,646 

 

$
5,308 

 

$
2,438 

 

$
1,488 

Operating income (loss)

 

$
167 

 

$
439 

 

$
(2,029)

 

$
(2,582)

Benefit from income taxes

 

$
(534)

 

$
(841)

 

$
(652)

 

$
(477)

Net income (loss)

 

$
40 

 

$
478 

 

$
(1,711)

 

$
(2,869)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$
0.01 

 

$
0.07 

 

$
(0.25)

 

$
(0.41)

Diluted

 

$
0.01 

 

$
0.06 

 

$
(0.25)

 

$
(0.41)

 

 

 

 

 

 

 

 

 

 

 

 

 

2012 Data:

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$
74,614 

 

$
67,866 

 

$
61,360 

 

$
47,150 

Gross margin

 

$
14,275 

 

$
11,570 

 

$
9,337 

 

$
5,967 

Operating income

 

$
9,692 

 

$
7,307 

 

$
4,652 

 

$
1,752 

Provision for income taxes

 

$
2,725 

 

$
2,222 

 

$
1,333 

 

$
54 

Net income

 

$
6,286 

 

$
4,505 

 

$
2,745 

 

$
1,081 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$
0.92 

 

$
0.66 

 

$
0.40 

 

$
0.16 

Diluted

 

$
0.86 

 

$
0.62 

 

$
0.38 

 

$
0.16 

 

 

 

 

 

 

During the fourth quarter of 2013, we recorded a tax valuation allowance of approximately $1.0 million, which is recorded as a component of benefit from income taxes in the table above.  There were no other tax valuation allowances recorded in any other period presented above.  Net income (loss) per common share amounts for each quarter is required to be computed independently. As a result, their sum may not equal the total year earnings per share amounts.