| Schedule of Quarterly Financial Information |
The operating results for any quarter should not be relied upon as necessarily indicative of results for any future period.
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Year Ended December 31, 2016(1)
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First Quarter |
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Second Quarter |
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Third Quarter |
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Fourth Quarter |
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(in thousands, except per share amounts) |
Net revenue |
$ |
102,685 |
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$ |
101,687 |
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$ |
96,324 |
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$ |
87,136 |
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Gross profit |
$ |
61,170 |
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$ |
62,913 |
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$ |
55,504 |
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$ |
50,403 |
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Net income |
$ |
20,681 |
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$ |
22,584 |
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$ |
9,679 |
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$ |
8,348 |
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Net income per share: |
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Basic |
$ |
0.33 |
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$ |
0.36 |
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$ |
0.15 |
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$ |
0.13 |
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Diluted |
$ |
0.31 |
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$ |
0.33 |
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$ |
0.14 |
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$ |
0.12 |
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___________________
(1) Includes impact of adoption of ASU 2016-09, Improvements to Share Based Compensation as described in Note 1. The impact of adoption by quarter was to increase net income and reduce the provision for income taxes, and to increase basic and diluted net income per share by the following amounts:
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Year Ended December 31, 2016 |
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First Quarter |
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Second Quarter |
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Third Quarter |
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Fourth Quarter |
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(in thousands, except per share amounts) |
Increase to net income |
$ |
1,565 |
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$ |
3,549 |
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$ |
928 |
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$ |
2,249 |
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Reduction to income tax provision |
$ |
(1,565 |
) |
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$ |
(3,549 |
) |
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$ |
(928 |
) |
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$ |
(2,249 |
) |
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Increase to net income per share: |
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Basic |
$ |
0.02 |
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$ |
0.06 |
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$ |
0.01 |
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$ |
0.04 |
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Diluted |
$ |
0.02 |
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$ |
0.04 |
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$ |
0.01 |
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$ |
0.05 |
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Year Ended December 31, 2015 |
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First Quarter |
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Second Quarter |
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Third Quarter |
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Fourth Quarter |
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(in thousands, except per share amounts) |
Net revenue |
$ |
35,396 |
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$ |
70,824 |
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$ |
95,191 |
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$ |
98,949 |
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Gross profit |
$ |
21,671 |
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$ |
26,942 |
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$ |
51,050 |
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$ |
55,760 |
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Net income (loss) |
$ |
(4,722 |
) |
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$ |
(30,647 |
) |
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$ |
1,582 |
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$ |
(8,544 |
) |
Net income (loss) per share: |
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Basic |
$ |
(0.12 |
) |
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$ |
(0.58 |
) |
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$ |
0.03 |
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$ |
(0.14 |
) |
Diluted |
$ |
(0.12 |
) |
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$ |
(0.58 |
) |
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$ |
0.03 |
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$ |
(0.14 |
) |
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| Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] |
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Year Ended December 31, 2016 |
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First Quarter |
|
Second Quarter |
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Third Quarter |
|
Fourth Quarter |
|
(in thousands, except per share amounts) |
Increase to net income |
$ |
1,565 |
|
|
$ |
3,549 |
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|
$ |
928 |
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|
$ |
2,249 |
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Reduction to income tax provision |
$ |
(1,565 |
) |
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$ |
(3,549 |
) |
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$ |
(928 |
) |
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$ |
(2,249 |
) |
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Increase to net income per share: |
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Basic |
$ |
0.02 |
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$ |
0.06 |
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$ |
0.01 |
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$ |
0.04 |
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Diluted |
$ |
0.02 |
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$ |
0.04 |
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$ |
0.01 |
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$ |
0.05 |
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