Annual report pursuant to Section 13 and 15(d)

Quarterly Results (Unaudited)

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Quarterly Results (Unaudited)
 12 Months Ended
Mar. 31, 2013
Quarterly Results [Abstract]  
Quarterly Results (Unaudited)
Quarterly Results (Unaudited)

The following quarterly results have been derived from unaudited consolidated financial statements that, in the opinion of management, reflect all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of such quarterly information. Adjustments have been made to periods prior to December 31, 2012 to reflect a misclassification of freight revenue, See Note 1. "Organization and Summary of Significant Accounting Policies". The operating results for any quarter are not necessarily indicative of the results to be expected for any future period. The unaudited quarterly financial data for each of the eight quarters in the two years ended March 31, 2013 are as follows:

 
 
Three Months Ended
 
 
June 30, 2012
 
September 30, 2012
 
December 31, 2012
 
March 31, 2013
Sales
 
$
67,690

 
$
67,849

 
$
76,830

 
$
71,667

Gross Profit
 
33,339

 
32,639

 
34,951

 
31,903

Income from operations
 
14,530

 
15,347

 
15,253

 
11,858

Net income
 
$
6,600

 
$
6,987

 
$
7,738

 
$
5,649

Net income per common share
 
 
 
 
 
 
 
 
   Basic
 
$
0.22

 
$
0.23

 
$
0.25

 
$
0.18

   Diluted
 
0.21

 
0.22

 
0.24

 
0.18


 
 
Three Months Ended
 
 
June 30, 2011
 
September 30, 2011
 
December 31, 2011
 
March 31, 2012
Sales
 
$
65,076

 
$
68,399

 
$
69,280

 
$
69,568

Gross Profit
 
31,989

 
31,951

 
33,691

 
34,484

Income (loss) from operations
 
(512
)
 
14,386

 
15,582

 
15,000

Net income (loss) (a)
 
$
(4,966
)
 
$
3,814

 
$
6,933

 
$
6,250

Net income (loss) per common share
 
 
 
 
 
 
 
 
   Basic (a)
 
$
(0.18
)
 
$
0.13

 
$
0.23

 
$
0.21

   Diluted (a)
 
$
(0.18
)
 
$
0.12

 
$
0.22

 
$
0.20



(a) During the three months ended June 30, 2011, we completed our IPO. Expenses related to the IPO included $6,341 in stock compensation for the accelerated vesting of options and $8,105 as a management termination fee to our former private equity sponsors.