QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Quarterly Consolidated Statement of Operations Data

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

The following table presents certain consolidated statement of operations data for the Company’s eight most recent quarters:

	Dec 31,			Sept 30,			June 30,			Mar 31,			Dec 31,			Sept 30,			June 30,			Mar 31,
	2018			2018			2018			2018			2017			2017			2017			2017
	(In thousands, except per share amounts)
Revenues (1)	$	10,867		$	8,552		$	6,144		$	85,416		$	6,896		$	11,863		$	7,030		$	9,224
Gross profit	10,839			8,491			6,050			85,381			6,857			11,802			6,976			9,181
Operating income (loss)	(3,546		)	(5,163		)	(8,295		)	70,105			(12,216		)	(5,443		)	(14,911		)	(12,852		)
Income (loss) before provision for taxes	(3,063		)	(4,618		)	(7,920		)	70,336			(12,109		)	(5,243		)	(14,746		)	(12,713		)
Benefit (provision) for income taxes	(79		)	(22		)	162			(453		)	(185		)	(44		)	(99		)	(152		)
Net income (loss)	(3,142		)	(4,640		)	(7,758		)	69,883			(12,294		)	(5,287		)	(14,845		)	(12,865		)
Basic net income (loss) per share (2)	(0.10		)	(0.15		)	(0.25		)	2.35			(0.42		)	(0.18		)	(0.51		)	(0.44		)
Shares used in calculating basic net income (loss) per share	30,814			30,780			30,527			29,700			29,250			29,245			29,193			29,024
Diluted net income (loss) per share (2)	(0.10		)	(0.15		)	(0.25		)	2.29			(0.42		)	(0.18		)	(0.51		)	(0.44		)
Shares used in calculating diluted net income (loss) per share	30,814			30,780			30,527			30,566			29,250			29,245			29,193			29,024

(1) Revenue increased significantly in the first quarter of 2018 primarily resulted from a change in accounting policy arising from the adoption of ASC 606 effective January 1, 2018.

(2) The quarterly earnings per share information is calculated separately for each period. Therefore, the sum of such quarterly per share amounts may differ from the total for the year.