Annual report pursuant to Section 13 and 15(d)

Selected Quarterly Financial Data

v3.10.0.1
Selected Quarterly Financial Data
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)
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, 2018. 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. As described in Note 1, as a result of the adoption of ASC 606 as of January 1, 2018 using the modified retrospective method, prior period amounts have not been adjusted to reflect the change to recognize certain distributor sales upon sale to the distributor, or the sell-in method, from recognition upon the Company's sale to the distributors' end customers, or the sell-through method, which required the deferral of revenue and profit on such distributor sales. The operating results for any quarter should not be relied upon as necessarily indicative of results for any future period.
 
Year Ended December 31, 2018
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
(in thousands, except per share amounts)
Net revenue
$
110,827

 
$
101,533

 
$
85,010

 
$
87,627

Gross profit
62,668

 
56,330

 
43,876

 
45,900

Net income (loss)
$
1,847

 
$
(14,422
)
 
$
(13,935
)
 
$
311

Net income (loss) per share:
 
 
 
 
 
 
 
Basic
$
0.03

 
$
(0.21
)
 
$
(0.20
)
 
$
0.00

Diluted
$
0.03

 
$
(0.21
)
 
$
(0.20
)
 
$
0.00

 
Year Ended December 31, 2017
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
(in thousands, except per share amounts)
Net revenue
$
88,841

 
$
104,175

 
$
113,581

 
$
113,721

Gross profit
$
52,924

 
$
51,104

 
$
51,842

 
$
52,093

Net income (loss)
$
8,463

 
$
10,965

 
$
(9,167
)
 
$
(19,448
)
Net income (loss) per share:
 
 
 
 
 
 
 
Basic
$
0.13

 
$
0.17

 
$
(0.14
)
 
$
(0.29
)
Diluted
$
0.12

 
$
0.16

 
$
(0.14
)
 
$
(0.29
)