Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information (unaudited)

Quarterly Financial Information (unaudited)

16. Quarterly Financial Information (unaudited)

Quarterly financial information for fiscal 2015 and 2014 are presented in the following table, in thousands, except per share data, unaudited:

	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
2015
Revenue	$	28,133		$	35,052		$	38,587		$	42,655
Total costs and expenses		24,703			31,976			34,277			35,806
Operating income		3,430			3,076			4,310			6,849
Net income		917			2,005			4,222			6,872
Net income per share, basic		0.02			0.04			0.09			0.14
Net income per share, diluted		0.02			0.03			0.08			0.14
2014
Revenue	$	9,081		$	29,675	(2)	$	52,488	(1)	$	30,801
Total costs and expenses		22,503			25,919			23,321			26,072
Operating loss		(13,422	)		3,756			29,167			4,729
Net loss		(15,543	)		3,202			27,858			4,354
Net loss per share, basic		(0.38	)		0.08			0.65			0.10
Net loss per share, diluted		(0.38	)		0.08			0.39			0.10

(1)	The Company's results for the third quarter of 2014 include $30.0 million in revenue upon entering into a Royalty Interest Acquisition Agreement.
(2)	The Company's results for the second quarter of 2014 include the change in accounting estimate regarding revenue recognition on product sales for Trokendi XR from prescriptions filled to shipments to wholesalers.