Annual report pursuant to Section 13 and 15(d)

Quarterly Results (Unaudited)

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Quarterly Results (Unaudited)
 12 Months Ended
Mar. 31, 2014
Quarterly Financial Information Disclosure [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. 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, 2014 are as follows:

 
 
Three Months Ended
 
 
June 30, 2013
 
September 30, 2013
 
December 31, 2013
 
March 31, 2014
Sales
 
$
65,600

 
$
72,783

 
$
71,465

 
$
67,475

Gross Profit
 
31,014

 
35,355

 
36,056

 
32,745

Income from operations
 
12,055

 
14,453

 
17,758

 
14,351

Net income (loss) (a)
 
$
(6,938
)
 
$
10,572

 
$
12,583

 
$
9,582

 
 
 
 
 
 
 
 
 
Net income (loss) per common share
 
 
 
 
 
 
 
 
   Basic
 
$
(0.22
)
 
$
0.34

 
$
0.40

 
$
0.30

   Diluted
 
(0.22
)
 
0.33

 
0.39

 
0.30


(a) During the three months ended June 30, 2013, we redeemed the remaining $118,145 of the aggregate outstanding principal amount of our 9.5% senior secured notes. In conjunction with the redemption, we paid a total of $15,485 in call premiums and expensed the remaining $4,010 of associated deferred debt issuance costs.

 
 
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