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Selected Quarterly Financial Data (unaudited)
12 Months Ended
Dec. 31, 2011
Selected Quarterly Financial Data (unaudited) [Abstract]  
Selected Quarterly Financial Data (unaudited)

16. Selected Quarterly Financial Data (unaudited)

Selected quarterly financial data for years ended December 31, 2011 and 2010 follows:

 

      September 30,       September 30,       September 30,       September 30,  
    Quarter Ended  
    March 31,     June 30,     September 30,     December 31,  
    2011     2011     2011     2011  

Net sales

  $ 23,116,949     $ 21,198,055     $ 24,383,110     $ 21,329,792  

Gross margin

    12,208,863     $ 12,241,693       13,103,608       6,975,073  

Net income (loss)

    19,732       (2,294,832 )      1,136,285       (5,901,051 ) 

Basic net income (loss) per share

  $ 0.00     $ (0.04 )    $ 0.02     $ (0.11 ) 

Diluted net income (loss) per share

    0.00       (0.04 )      0.02       (0.11 ) 

 

      September 30,       September 30,       September 30,       September 30,  
    Quarter Ended  
    March 31,     June 30,     September 30,     December 31,  
    2010     2010     2010     2010  

Net sales

  $ 23,843,901     $ 19,120,525     $ 21,084,081     $ 22,881,512  

Gross margin

    13,490,421       9,630,710       10,415,682       11,830,062  

Net loss

    (492,605 )      (1,359,389 )      (2,335,478 )      (196,963 ) 

Basic net loss per share

  $ (0.01 )    $ (0.02 )    $ (0.04 )    $ 0.00  

Diluted net loss per share

    (0.01 )      (0.02 )      (0.04 )      0.00  

 

 

The Company has determined that it is impracticable to break out the segment data for the unaudited quarterly data.

The following significant and infrequent charges were incurred during 2011:

 

  •  

Impairment of the Protector product line for $1.4 million, incurred during the second quarter of 2011

 

  •  

Losses on disposal of property and equipment of $0.8 million, related to surplus EVIDENCE.COM equipment and billing software, incurred in the second quarter of 2011.

 

  •  

A litigation judgment reserve for $3.3 million, incurred during the third quarter of 2011.

 

  •  

Excess inventory charges for the TASER X3 and first generation AXON product lines of $3.7 million, and impairment of associated tooling equipment of $2.0 million, incurred during the fourth quarter of 2011.