Annual report pursuant to Section 13 and 15(d)

Selected Quarterly Financial Data (Tables)

v3.6.0.2
Selected Quarterly Financial Data (Tables)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]    
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.
 
Year Ended December 31, 2016(1)
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
(in thousands, except per share amounts)
Net revenue
$
102,685

 
$
101,687

 
$
96,324

 
$
87,136

Gross profit
$
61,170

 
$
62,913

 
$
55,504

 
$
50,403

Net income
$
20,681

 
$
22,584

 
$
9,679

 
$
8,348

Net income per share:
 
 
 
 
 
 
 
Basic
$
0.33

 
$
0.36

 
$
0.15

 
$
0.13

Diluted
$
0.31

 
$
0.33

 
$
0.14

 
$
0.12

___________________
(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:
 
Year Ended December 31, 2016
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
(in thousands, except per share amounts)
Increase to net income
$
1,565

 
$
3,549

 
$
928

 
$
2,249

Reduction to income tax provision
$
(1,565
)
 
$
(3,549
)
 
$
(928
)
 
$
(2,249
)
 
 
 
 
 
 
 
 
Increase to net income per share:
 
 
 
 
 
 
 
Basic
$
0.02

 
$
0.06

 
$
0.01

 
$
0.04

Diluted
$
0.02

 
$
0.04

 
$
0.01

 
$
0.05


 
Year Ended December 31, 2015
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
(in thousands, except per share amounts)
Net revenue
$
35,396

 
$
70,824

 
$
95,191

 
$
98,949

Gross profit
$
21,671

 
$
26,942

 
$
51,050

 
$
55,760

Net income (loss)
$
(4,722
)
 
$
(30,647
)
 
$
1,582

 
$
(8,544
)
Net income (loss) per share:
 
 
 
 
 
 
 
Basic
$
(0.12
)
 
$
(0.58
)
 
$
0.03

 
$
(0.14
)
Diluted
$
(0.12
)
 
$
(0.58
)
 
$
0.03

 
$
(0.14
)
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]
 
Year Ended December 31, 2016
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
(in thousands, except per share amounts)
Increase to net income
$
1,565

 
$
3,549

 
$
928

 
$
2,249

Reduction to income tax provision
$
(1,565
)
 
$
(3,549
)
 
$
(928
)
 
$
(2,249
)
 
 
 
 
 
 
 
 
Increase to net income per share:
 
 
 
 
 
 
 
Basic
$
0.02

 
$
0.06

 
$
0.01

 
$
0.04

Diluted
$
0.02

 
$
0.04

 
$
0.01

 
$
0.05