Selected Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (unaudited)

Selected Quarterly Financial Data (unaudited)

Selected quarterly financial data for years ended December 31, 2019 and 2018 follows (in thousands, except per share data):

	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
	2019		2019		2019		2019
Net sales	$	115,810	$	112,362	$	130,837	$	171,851
Gross margin	68,917		65,560		80,169		92,640
Net income	6,419		738		6,104		(12,379		)
Earnings (loss) per share (2):
Basic	$	0.11	$	0.01	$	0.10	$	(0.21	)
Diluted	$	0.11	$	0.01	$	0.10	$	(0.21	)
	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
	2018		2018		2018		2018 (1)
Net sales	$	101,215	$	99,226	$	104,836	$	114,791
Gross margin	64,461		63,143		65,633		65,346
Net income	12,926		8,485		5,711		2,083
Earnings per share (2):
Basic	$	0.24	$	0.15	$	0.10	$	0.04
Diluted	$	0.24	$	0.15	$	0.10	$	0.03

⁽¹⁾ Results of operations for the three months ended December 31, 2018 included out of period adjustments related to prior quarterly periods in 2018 and 2017. The aggregate out of period adjustment was approximately $1.8 million, reflecting a $0.9 million decrease to net sales, a $1.3 million increase to sales, general and administrative expense, and a $0.4 million decrease to provision for income taxes. Based on our quantitative and qualitative analysis, we do not consider the out of period impact to be material to our financial position or results of operations for any prior periods or for the quarter or year ended December 31, 2018.

⁽²⁾ Basic and diluted earnings per share are computed independently for each of the quarters presented. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted earnings per share.