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Quarterly Operating Results (Unaudited)
12 Months Ended
Dec. 31, 2012
Quarterly Operating Results (Unaudited)  
Quarterly Operating Results (Unaudited)

17.       Quarterly Operating Results (Unaudited)

 

 

 

For The Year Ended December 31, 2012

 

 

 

First

 

Second

 

Third

 

Fourth

 

 

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Net sales

 

$

43,853

 

$

45,836

 

$

56,555

 

$

67,084

 

Gross profit

 

7,829

 

8,834

 

16,442

 

18,046

 

Net (loss) income

 

(7,088

)

(6,237

)

2,894

 

3,376

 

 

 

 

For The Year Ended December 31, 2011

 

 

 

First

 

Second

 

Third

 

Fourth

 

 

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Net sales

 

$

48,497

 

$

36,550

 

$

58,877

 

$

64,886

 

Gross profit

 

13,039

 

10,983

 

18,830

 

22,480

 

Net (loss) income

 

(1,792

)

(1,919

)

3,373

 

5,326

 

 

During the fourth quarter of 2012, we identified errors related to the post-retirement health plan and a sales transaction (see Note 2).  As a result of these errors, we revised previously reported quarterly financial data to correct for these errors.  The correction of the error related to the post-retirement health plan was recorded as a reduction of gross profit and net income of $33, $32, $32, $111, $25, $25 and $115 for the quarters ended  March 31, 2011, June 30, 2011, September 30, 2011, December 31, 2011, March 31, 2012, June 30, 2012 and September 30, 2012, respectively.    The correction of the error for the sales transaction was recorded as a reduction to net sales of $724, gross profit of $453 and net income of $453 for the quarter ended March 31, 2012 and an recorded as an increase to net sales of $724, gross profit of $453 and net income of $453 for the quarter ended June 30, 2012.  The correction of these errors is reflected in the above table. Based on an analysis of qualitative and quantitative factors, these errors were deemed immaterial, individually and in the aggregate, to all periods previously reported.