Annual report pursuant to Section 13 and 15(d)

Selected Quarterly Financial Data (Unaudited)

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Selected Quarterly Financial Data (Unaudited)
12 Months Ended
Dec. 31, 2012
Selected Quarterly Financial Data (Unaudited)

10. Selected Quarterly Financial Data (Unaudited)

The following table presents the Company’s unaudited quarterly financial data for each of the eight quarters in the period ended December 31, 2012. In management’s opinion, this information has been presented on the same basis as the audited consolidated financial statements included in a separate section of this report, and all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts below to present fairly the unaudited quarterly results when read in conjunction with the audited consolidated financial statements and related notes. The operating results for any quarter should not be relied upon as necessarily indicative of results for any future period.

 

     Year Ended December 31, 2012  
     First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
 
     (in thousands)  

Net revenue

   $ 20,683      $ 24,420      $ 27,795      $ 24,830   

Gross profit

     12,416        15,122        17,467        15,704   

Net income (loss)

     (6,562     (2,559     450 (1)      (4,581

Net income (loss) per share:

        

Basic

   $ (0.20   $ (0.08   $ 0.01      $ (0.14

Diluted

   $ (0.20   $ (0.08   $ 0.01      $ (0.14
     Year Ended December 31, 2011  
     First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
 
     (in thousands)  

Net revenue

   $ 16,908      $ 18,094      $ 17,639      $ 19,296   

Gross profit

     10,831        11,435        11,332        11,723   

Net loss

     (1,148     (4,796     (11,388     (4,692

Net loss per share:

        

Basic

   $ (0.04   $ (0.15   $ (0.35   $ (0.14

Diluted

   $ (0.04   $ (0.15   $ (0.35   $ (0.14

 

(1) Includes the reduction of the Company’s previously recorded estimate of OFAC penalties and fines by $0.6 million.