Item 8. Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data
The Company’s consolidated financial statements as of and for the year ended December 31, 2020 in Item 15 commencing on page F-1 are incorporated herein by reference.
The following tables set forth certain unaudited consolidated quarterly statement of operations data for the eight quarters ended December 31, 2020. This information is unaudited, but in the opinion of management, it has been prepared substantially on the same basis as the audited consolidated financial statements appearing elsewhere in this Annual Report on Form 10-K and all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts stated below to present fairly the unaudited consolidated quarterly results of operations. The consolidated quarterly data should be read in conjunction with the Company’s audited consolidated financial statements and the Notes to such statements appearing elsewhere in this Annual Report. The results of operations for any quarter are not necessarily indicative of the results of operations for any future period:
Year ended December 31, 2020
First
quarter Second
quarter Third
quarter Fourth
quarter
(in thousands, except per share data)
Net sales $ 145,070 $ 150,140 $ 224,750 $ 249,209
Gross margin 52,934 54,168 78,792 88,104
(Loss) income from operations
(25,245) 4,296 21,506 24,413
Net (loss) income
(28,164) (3,977) 13,913 15,221
Basic (loss) income per common share
(1.36) (0.19) 0.66 0.73
Diluted (loss) income per common share
(1.36) (0.19) 0.65 0.70
Year ended December 31, 2019
First
quarter Second
quarter Third
quarter Fourth
quarter
(in thousands, except per share data)
Net sales $ 149,926 $ 142,536 $ 215,502 $ 226,938
Gross margin 54,321 44,019 72,941 83,910
(Loss) income from operations
(2,287) (12,545) 6,929 (15,492)
Net loss
(4,867) (11,513) (13,519) (14,516)
Basic loss per common share
(0.24) (0.56) (0.66) (0.70)
Diluted loss per common share
(0.24) (0.56) (0.66) (0.70)
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None
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