Quarterly Financial Information

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [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. You should read the following tables presenting our quarterly results of operations in conjunction with the consolidated financial statements and related notes included in Item 8 of this Form 10-K. We have prepared the unaudited information on the same basis as our audited consolidated financial statements. Certain amounts in previously reported quarters have been adjusted to exclude discontinued operations as a result of the sale of the Company's Media business.

    ThinkGeek sales are 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 the 2013 and 2012 revenue occurred in the fourth quarter, which began on October 1 and ended on December 31. As is typical in the retail industry, the Company generally experiences lower revenue during the other quarters. Therefore, the revenue in a particular quarter is not necessarily indicative of future revenue for a subsequent quarter or a full year.

	For the three months ended
	March 31			June 30			September 30			December 31
Year 2013
Net revenue	$	19,557		$	22,004		$	22,363		$	74,338
Gross margin	3,620			4,409			4,250			14,838
Net (loss) income from continuing operations (1)	(2,308		)	(1,490		)	(1,435		)	5,066
Net (loss) income	$	(2,336	)	$	(1,531	)	$	(1,436	)	$	5,069
Net (loss) income per share from continuing operations: (1)
Basic	$	(0.35	)	$	(0.22	)	$	(0.22	)	$	0.76
Diluted	$	(0.35	)	$	(0.22	)	$	(0.22	)	$	0.76
Net (loss) income per share:
Basic	$	(0.35	)	$	(0.23	)	$	(0.22	)	$	0.76
Diluted	$	(0.35	)	$	(0.23	)	$	(0.22	)	$	0.76
Year 2012 (1)
Net revenue	$	17,510		$	17,804		$	17,260		$	66,339
Gross margin	2,567			2,096			2,256			14,147
Net (loss) income from continuing operations	(2,163		)	1,291			(1,999		)	4,676
Net (loss) income (2)	$	(2,121	)	$	1,609		$	8,363		$	6,056
Net (loss) income per share from continuing operations:
Basic	$	(0.34	)	$	0.20		$	(0.31	)	$	0.71
Diluted	$	(0.34	)	$	0.20		$	(0.31	)	$	0.71
Net (loss) income per share:
Basic	$	(0.33	)	$	0.25		$	1.29		$	0.92
Diluted	$	(0.33	)	$	0.25		$	1.27		$	0.92

(1) Certain amounts shown above that were previously reported have been adjusted for corrections of intra-period tax allocations.

(2) Included in net income for the three months ended June 30, 2012, is a gain of $4.0 million from the sale of the Company's Series C-1

preferred stock investment in CollabNet, Inc.

	For the three months ended
	March 31			June 30			September 30			December 31
Year 2013
Website:
Net revenue	$	17,981		$	18,254		$	16,990		$	62,684
Cost of revenue	14,839			15,155			14,377			52,087
Gross margin	$	3,142		$	3,099		$	2,613		$	10,597
Gross margin %	17.5		%	17.0		%	15.4		%	16.9		%
Wholesale:
Net revenue	$	1,576		$	3,750		$	5,373		$	11,654
Cost of revenue	1,098			2,440			3,736			7,413
Gross margin	$	478		$	1,310		$	1,637		$	4,241
Gross margin %	30.3		%	34.9		%	30.5		%	36.4		%
Year 2012
Website:
Net revenue	$	16,728		$	16,518		$	15,872		$	62,820
Cost of revenue	14,374			14,780			13,987			49,617
Gross margin	$	2,354		$	1,738		$	1,885		$	13,203
Gross margin %	14.1		%	10.5		%	11.9		%	21.0		%
Wholesale:
Net revenue	$	782		$	1,286		$	1,388		$	3,519
Cost of revenue	569			928			1,017			2,576
Gross margin	$	213		$	358		$	371		$	943
Gross margin %	27.2		%	27.8		%	26.7		%	26.8		%