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Quarterly Financial Information
 12 Months Ended
Dec. 31, 2011
Quarterly Financial Information [Abstract]  
Quarterly Financial Information
Quarterly Financial Information

Quarterly Consolidated Financial Data
(Unaudited, in Thousands, except per share amounts)

The Company’s quarters end on March 31, June 30, September 30 and December 31 of each calendar year.
 
For the three months ended
 
March 31
 
June 30
 
September 30
 
December 31
Year 2011
 
 
 
 
 
 
 
Net revenue
$
19,916

 
$
20,070

 
$
19,700

 
$
59,780

Gross margin
4,936

 
5,402

 
5,093

 
15,852

Income (loss) from continuing operations
(2,386
)
 
(2,141
)
 
(2,683
)
 
6,020

Net income (loss)
$
(2,386
)
 
$
(2,141
)
 
$
(2,683
)
 
$
6,020

Net income (loss) per share from continuing operations:
 

 
 

 
 

 
 

Basic
$
(0.38
)
 
$
(0.34
)
 
$
(0.42
)
 
$
0.95

Diluted
$
(0.38
)
 
$
(0.34
)
 
$
(0.42
)
 
$
0.95

Net income (loss) per share:
 

 
 

 
 

 
 

Basic
$
(0.38
)
 
$
(0.34
)
 
$
(0.42
)
 
$
0.95

Diluted
$
(0.38
)
 
$
(0.34
)
 
$
(0.42
)
 
$
0.95

Year 2010
 

 
 

 
 

 
 

Net revenue
$
14,679

 
$
15,274

 
$
14,659

 
$
50,007

Gross margin
4,080

 
4,687

 
2,788

 
13,824

Income (loss) from continuing operations
(2,821
)
 
(2,484
)
 
(3,761
)
 
4,866

Net income (loss)
$
(2,821
)
 
$
(2,506
)
 
$
(3,850
)
 
$
4,729

Net income (loss) per share from continuing operations:
 

 
 

 
 

 
 

Basic
$
(0.47
)
 
$
(0.41
)
 
$
(0.62
)
 
$
0.78

Diluted
$
(0.47
)
 
$
(0.41
)
 
$
(0.62
)
 
$
0.77

Net income (loss) per share:
 
 
 
 
 
 
 
Basic
$
(0.47
)
 
$
(0.41
)
 
$
(0.64
)
 
$
0.76

Diluted
$
(0.47
)
 
$
(0.41
)
 
$
(0.64
)
 
$
0.75

 
Loss from continuing operations includes severance expense of $0.5 million during the three months ended March 31, 2011 and $0.5 million during the three months ended September 30, 2011. Loss from continuing operations includes severance expense of $0.4 million, $1.9 million and $0.3 million during the three months ended June 30, 2010, September 30, 2010 and December 31, 2010, respectively. The three months ended September 30, 2011 and September 30, 2010 also includes a $0.1 million and $1.4 million gain on sale of assets, respectively.

The sum of basic and diluted earnings per share for the four quarters may differ from the annual basic and diluted earning per share due to the required method of computed the weighted average number of shares at interim periods.

As stock-based compensation expense is recognized in the Consolidated Statement of Operations based on awards ultimately expected to vest, it has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures are estimated based on historical experience. Stock based compensation is recognized on a straight line basis over the vesting period. This resulted in a reduction of stock based compensation of $0.7 million in the fourth quarter of 2011.

Our ThinkGeek business is highly seasonal, reflecting the general pattern associated with the retail industry of peak sales and earnings during the holiday shopping season. As a result, a substantial portion of our 2011 and 2010 e-Commerce revenue occurred in our fourth quarter, which began on October 1 and ended on December 31, for 2010 and 2011. As is typical in the retail industry, we generally experience lower e-Commerce revenue during the other quarters. Therefore, our e-Commerce revenue in a particular quarter is not necessarily indicative of future e-Commerce revenue for a subsequent quarter or our full year.

Our Media business experiences lower web traffic — often accompanied by reduced advertising spending — during the summer due to various holidays in the United States and Europe.