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Quarterly Financial Data
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Data  
Quarterly Financial Data

20.  Quarterly Financial Data (Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015 Quarters

 

 

    

First

    

Second

    

Third

    

Fourth

 

Net revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

Finished pharmaceutical products

 

$
50,872

 

$
50,075

 

$
57,902

 

$
66,092

 

API

 

 
6,014

 

 
3,778

 

 
5,966

 

 
10,820

 

Total net revenues

 

$
56,886

 

$
53,853

 

$
63,868

 

$
76,912

 

Gross profit

 

 

 

 

 

 

 

 

 

 

 

 

 

Finished pharmaceutical products

 

$
12,853

 

$
12,634

 

$
19,302

 

$
29,357

 

API

 

 
427

 

 
684

 

 
(1,724)

 

 
3,814

 

Total gross profit

 

$
13,280

 

$
13,318

 

$
17,578

 

$
33,171

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$
(665)

 

$
(6,647)

 

$
(3,008)

 

$
7,533

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares used to compute net income (loss) per share

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
44,601

 

 
44,849

 

 
45,310

 

 
45,085

 

Diluted

 

 
44,601

 

 
44,849

 

 
45,310

 

 
46,709

 

Net income (loss) per share

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$
(0.01)

 

$
(0.15)

 

$
(0.07)

 

$
0.17

 

Diluted

 

$
(0.01)

 

$
(0.15)

 

$
(0.07)

 

$
0.16

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014 Quarters

 

 

    

First

    

Second

    

Third

    

Fourth

 

Net revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

Finished pharmaceutical products

 

$
45,870

 

$
48,901

 

$
53,729

 

$
49,980

 

API

 

 

—

 

 
102

 

 
5,982

 

 
5,897

 

Total net revenues

 

$
45,870

 

$
49,003

 

$
59,711

 

$
55,877

 

Gross profit

 

 

 

 

 

 

 

 

 

 

 

 

 

Finished pharmaceutical products

 

$
12,509

 

$
14,961

 

$
12,122

 

$
13,132

 

API

 

 

—

 

 
35

 

 
(331)

 

 
(1,172)

 

Total gross profit

 

$
12,509

 

$
14,996

 

$
11,791

 

$
11,960

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$
(1,619)

 

$
(1,180)

 

$
(5,379)

 

$
(2,521)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares used to compute net loss per share

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
38,769

 

 
39,767

 

 
44,644

 

 
44,648

 

Diluted

 

 
38,769

 

 
39,767

 

 
44,644

 

 
44,648

 

Net loss per share

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$
(0.04)

 

$
(0.03)

 

$
(0.12)

 

$
(0.06)

 

Diluted

 

$
(0.04)

 

$
(0.03)

 

$
(0.12)

 

$
(0.06)

 

 

Net income (loss) per share amounts for the fiscal quarters have been calculated independently and may not in the aggregate equal the amount for the full year.

 

During the fourth quarter of 2015, the Company identified an immaterial error in each of its previously reported quarters of 2015, primarily pertaining to the result of not recognizing non-operating expense for certain foreign currency transactions. The Company corrected the immaterial error in the fourth quarter of 2015, resulting in a decrease to net income of $1.1 million. Based on management's evaluation of the materiality of the error from a qualitative and quantitative perspective as required by authoritative guidance, the Company concluded that correcting the error had no material impact on any of the Company's previously issued interim financial statements and had no effect on the trend of financial results.