Note 19 - Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Quarterly Financial Information [Text Block]

19

. QUARTERLY FINANCIAL DATA (UNAUDITED)

	Three Months Ended
	December 31, 2016			September 30, 2016		June 30, 2016			March 31, 2016
	(in thousands, except per share amounts)
Revenue	$	103,618		$	106,456	$	94,079		$	84,512
Cost of revenue		47,107			48,531		43,153			39,002
Gross profit		56,511			57,925		50,926			45,510
Operating expenses:
Research and development		17,974			20,472		17,876			17,321
Selling, general and administrative		21,316			22,397		21,531			17,768
Litigation expense (benefit), net		(321	)		55		(8	)		45
Total operating expenses		38,969			42,924		39,399			35,134
Income from operations		17,542			15,001		11,527			10,376
Interest and other income, net		897			780		597			543
Income before income taxes		18,439			15,781		12,124			10,919
Income tax provision		1,866			1,408		926			344
Net income	$	16,573		$	14,373	$	11,198		$	10,575
Net income per share:
Basic	$	0.41		$	0.35	$	0.28		$	0.26
Diluted	$	0.39		$	0.34	$	0.27		$	0.25
Weighted-average shares outstanding:
Basic		40,739			40,590		40,387			40,028
Diluted		42,404			41,895		41,716			41,646
Cash dividends declared per common share	$	0.20		$	0.20	$	0.20		$	0.20

	Three Months Ended
	December 31, 2015		September 30, 2015			June 30, 2015		March 31, 2015
	(in thousands, except per share amounts)
Revenue	$	86,918	$	91,194		$	81,416	$	73,538
Cost of revenue		40,001		41,754			37,287		33,855
Gross profit		46,917		49,440			44,129		39,683
Operating expenses:
Research and development		16,734		17,272			15,743		16,038
Selling, general and administrative		18,107		18,722			17,964		17,518
Litigation expense		283		136			311		270
Total operating expenses		35,124		36,130			34,018		33,826
Income from operations		11,793		13,310			10,111		5,857
Interest and other income (expense), net		550		(6	)		235		642
Income before income taxes		12,343		13,304			10,346		6,499
Income tax provision		2,233		2,103			2,447		536
Net income	$	10,110	$	11,201		$	7,899	$	5,963
Net income per share:
Basic	$	0.26	$	0.28		$	0.20	$	0.15
Diluted	$	0.24	$	0.28		$	0.19	$	0.15
Weighted-average shares outstanding:
Basic		39,615		39,592			39,570		39,105
Diluted		41,445		40,689			40,745		40,596
Cash dividends declared per common share	$	0.20	$	0.20		$	0.20	$	0.20