Annual report pursuant to Section 13 and 15(d)

Quarterly Summary of Information (Unaudited)

v3.6.0.2
Quarterly Summary of Information (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly summary of information (unaudited)

10. Quarterly summary of information (unaudited)

The following table sets forth the Company’s unaudited quarterly statements of income data in dollars for each of the eight quarters in the period ended December 31, 2016. The Company has prepared the quarterly statements of income data on a basis consistent with the audited financial statements. The Company elected to early adopt ASU 2016-09 in the fourth quarter of 2016. As such, certain statements of income data for the three months ended December 31, 2016, September 30, 2016, June 30, 2016, and March 31, 2016 included the impacts of early adoption of ASU 2016-09. See Note 2 of the accompanying notes to our financial statement for additional information related to this adoption. In the opinion of management, the financial information reflects all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of this data. The results of historical periods are not necessarily indicative of the results of operations for any future period.

 

(amounts in thousands, except share and per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarterly Results 2016

 

Q1 March

 

 

Q2 June

 

 

Q3 September

 

 

Q4 December

 

Net revenue

 

$

42,989

 

 

$

54,567

 

 

$

54,422

 

 

$

50,851

 

Gross profit

 

 

21,279

 

 

 

26,215

 

 

 

25,128

 

 

 

24,688

 

Income before provision for income taxes

 

 

3,400

 

 

 

8,042

 

 

 

5,449

 

 

 

5,834

 

Provision for income taxes

 

 

879

 

 

 

550

 

 

 

203

 

 

 

574

 

Net income

 

 

2,521

 

 

 

7,492

 

 

 

5,246

 

 

 

5,260

 

Net income per share attributable to

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

         Basic

 

$

0.13

 

 

$

0.38

 

 

$

0.26

 

 

$

0.26

 

         Diluted

 

$

0.12

 

 

$

0.36

 

 

$

0.25

 

 

$

0.25

 

Weighted-average number of shares used in

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

calculating net income per share attributable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic common shares

 

 

19,827,669

 

 

 

19,972,395

 

 

 

20,157,688

 

 

 

20,310,857

 

Diluted common shares

 

 

20,840,367

 

 

 

20,997,429

 

 

 

21,182,587

 

 

 

21,362,513

 

 

(amounts in thousands, except share and per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarterly Results 2015

 

Q1 March

 

 

Q2 June

 

 

Q3 September

 

 

Q4 December

 

Net revenue

 

$

33,752

 

 

$

44,029

 

 

$

40,778

 

 

$

40,446

 

Gross profit

 

 

16,023

 

 

 

20,822

 

 

 

19,375

 

 

 

20,038

 

Income before provision (benefit) for income taxes

 

 

2,418

 

 

 

5,314

 

 

 

3,678

 

 

 

3,317

 

Provision (benefit) for income taxes

 

 

846

 

 

 

1,855

 

 

 

982

 

 

 

(541

)

Net income

 

 

1,572

 

 

 

3,459

 

 

 

2,696

 

 

 

3,858

 

Net income per share attributable to

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

         Basic

 

$

0.08

 

 

$

0.18

 

 

$

0.14

 

 

$

0.20

 

         Diluted

 

$

0.08

 

 

$

0.17

 

 

$

0.13

 

 

$

0.19

 

Weighted-average number of shares used in

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

calculating net income per share attributable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic common shares

 

 

19,167,585

 

 

 

19,310,064

 

 

 

19,428,653

 

 

 

19,689,662

 

Diluted common shares

 

 

20,562,040

 

 

 

20,672,414

 

 

 

20,783,550

 

 

 

20,812,773

 

 

Earnings per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly amounts will not necessarily equal the total for the year.