Annual report pursuant to Section 13 and 15(d)

Quarterly Results (Unaudited)

v2.4.1.9
Quarterly Results (Unaudited)
 12 Months Ended
Mar. 31, 2015
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, 2015 are as follows:

 
 
Three Months Ended
 
 
March 31, 2015
 
December 31, 2014
 
September 30, 2014
 
June 30, 2014
Sales
 
$
74,256

 
$
87,622

 
$
79,033

 
$
67,667

Gross Profit
 
34,105

 
45,533

 
41,221

 
33,845

Income from operations
 
12,610

 
23,219

 
18,472

 
12,760

Net income
 
$
10,501

 
$
15,603

 
$
11,748

 
$
11,534

 
 
 
 
 
 
 
 
 
Net income (loss) per common share
 
 
 
 
 
 
 
 
   Basic
 
$
0.33

 
$
0.49

 
$
0.37

 
$
0.36

   Diluted
 
0.32

 
0.48

 
0.36

 
0.36




 
 
Three Months Ended
 
 
March 31, 2014
 
December 31, 2013
 
September 30, 2013
 
June 30, 2013
Sales
 
$
67,475

 
$
71,465

 
$
72,783

 
$
65,600

Gross Profit
 
32,745

 
36,056

 
35,355

 
31,014

Income from operations
 
14,351

 
17,758

 
14,453

 
12,055

Net income (loss) (a)
 
$
9,582

 
$
12,583

 
$
10,572

 
$
(6,938
)
 
 
 
 
 
 
 
 
 
Net income (loss) per common share
 
 
 
 
 
 
 
 
   Basic
 
$
0.30

 
$
0.40

 
$
0.34

 
$
(0.22
)
   Diluted
 
0.30

 
0.39

 
0.33

 
(0.22
)


The basic and diluted income (loss) per common share for each respective three month period is calculated independently. Therefore, the sum of the periods does not necessarily total the full year net income or loss per common share.

(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.