Annual report pursuant to Section 13 and 15(d)

Quarterly Operating Results

v3.3.1.900
Quarterly Operating Results
 12 Months Ended
Dec. 31, 2015
Quarterly Operating Results [Abstract]  
Quarterly Operating Results

Quarterly Operating Results

(in thousands except per share amounts)

Unaudited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

 

 

March 31

 

June 30

 

Sep 30

 

Dec 31

2015

 

 

 

 

 

 

 

 

Sales

$

 19,545 

$

 28,198 

$

 32,246 

$

 27,681 

Gross margins

 

 4,887 

 

 8,539 

 

 10,424 

 

 7,696 

Operating (loss) income

 

 (5,691)

 

 (1,718)

 

 431 

 

 (3,528)

Net (loss) income

 

 (4,163)

 

 (1,028)

 

 1,284 

 

 (5,741)

 

 

 

 

 

 

 

 

 

Basic net (loss) income per share

$

 (0.48)

$

 (0.12)

$

 0.15 

$

 (0.66)

Diluted net (loss) income per share

$

 (0.48)

$

 (0.12)

$

 0.15 

$

 (0.66)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

 

 

 

 

 

 

 

Sales

$

 25,198 

$

 33,209 

$

 33,434 

$

 27,230 

Gross margins

 

 8,988 

 

 12,094 

 

 12,013 

 

 9,064 

Operating income (loss)

 

 (252)

 

 2,406 

 

 2,658 

 

 (1,519)

Net income (loss)

 

 (141)

 

 1,437 

 

 1,695 

 

 (1,029)

 

 

 

 

 

 

 

 

 

Basic net income (loss) per share

$

 (0.02)

$

 0.17 

$

 0.20 

$

 (0.12)

Diluted net income (loss) per share

$

 (0.02)

$

 0.17 

$

 0.20 

$

 (0.12)

 

The Company recorded $1.2 million in pension settlement costs in operating expenses in the Consolidated Income Statement related to the wind up of the pension in the UK in the fourth quarter of 2015.  Additionally, the Company recorded a $3.7 million additional valuation allowance within income tax expense in the Consolidated Income Statement during the fourth quarter of 2015.