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Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)

16. Quarterly Financial Data (Unaudited)

The following financial information reflects all normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results of the interim periods. Summarized quarterly data for fiscal 2020 and 2019 are as follows (in thousands, except per share data):

 

 

 

Year Ended December 31, 2020

 

 

 

1st Quarter

 

 

2nd Quarter

 

 

3rd Quarter

 

 

4th Quarter

 

Selected quarterly financial data:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

13,322

 

 

$

12,933

 

 

$

12,629

 

 

$

12,416

 

Gross profit

 

$

12,149

 

 

$

11,664

 

 

$

11,303

 

 

$

10,994

 

Operating income (loss)

 

$

1,959

 

 

$

1,377

 

 

$

196

 

 

$

(12

)

Net income

 

$

2,045

 

 

$

1,379

 

 

$

161

 

 

$

580

 

Net earnings per share - basic (1)

 

$

0.05

 

 

$

0.03

 

 

$

—

 

 

$

0.02

 

Weighted average shares outstanding - basic

 

 

39,482

 

 

 

41,127

 

 

 

41,351

 

 

 

41,262

 

Net earnings per share - diluted (1)

 

$

0.05

 

 

$

0.03

 

 

$

—

 

 

$

0.01

 

Weighted average shares outstanding - diluted

 

 

42,194

 

 

 

43,079

 

 

 

43,026

 

 

 

43,305

 

 

 

 

Year Ended December 31, 2019

 

 

 

1st Quarter

 

 

2nd Quarter

 

 

3rd Quarter

 

 

4th Quarter

 

Selected quarterly financial data:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

8,432

 

 

$

10,854

 

 

$

11,782

 

 

$

12,278

 

Gross profit

 

$

7,516

 

 

$

9,880

 

 

$

10,771

 

 

$

11,252

 

Operating income

 

$

62

 

 

$

2,932

 

 

$

3,480

 

 

$

3,631

 

Net income

 

$

48

 

 

$

3,436

 

 

$

3,567

 

 

$

3,671

 

Net earnings per share - basic (1)

 

$

—

 

 

$

0.11

 

 

$

0.10

 

 

$

0.10

 

Weighted average shares outstanding - basic

 

 

31,297

 

 

 

32,068

 

 

 

36,094

 

 

 

38,501

 

Net earnings per share - diluted (1)

 

$

—

 

 

$

0.10

 

 

$

0.09

 

 

$

0.09

 

Weighted average shares outstanding - diluted

 

 

31,323

 

 

 

35,308

 

 

 

39,472

 

 

 

41,767

 

 

(1)

Basic and diluted net loss per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly per share amounts will not necessarily equal the total for the year.