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QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2020
QUARTERLY FINANCIAL DATA (UNAUDITED) [Abstract]  
Quarterly Financial Information
The Company is providing quarterly and year-to-date unaudited consolidated financial information for interim periods occurring within the years ended December 31, 2020 and 2019 in order to comply with SEC requirements.


 

  

  

  

 
(in thousands, except share and per share data)
2020
 
First
Quarter
  
Second
Quarter
  
Third
Quarter
  
Fourth
Quarter
 
Net sales
 
$
17,145
  
$
9,146
  
$
15,990
  
$
21,803
 
Gross profit
  
9,866
   
5,243
   
9,289
   
11,660
 
Net loss
  
(1,738
)
  
(1,775
)
  
(982
)
  
(406
)
Net loss per common share:
                
Basic
 
$
(0.19
)
 
$
(0.20
)
 
$
(0.11
)
 
$
(0.04
)
Diluted (1)
 
$
(0.19
)
 
$
(0.20
)
 
$
(0.11
)
 
$
(0.04
)
Weighted average number of common shares outstanding:
                
Basic
  
9,029,212
   
9,042,991
   
9,042,991
   
9,134,621
 
Diluted
  
9,029,212
   
9,042,991
   
9,042,991
   
9,134,621
 

(1)  For the three months ended March 31, 2020, June 30, 2020, September 30, 2020, and December 31, 2020, there were 492, 2,290, 1,875 and 3,300 shares, respectively, excluded from the diluted EPS calculation because the impact of their assumed exercise would be anti-dilutive due to a net loss in those periods.


 
First
Quarter
Restated
  
Second
Quarter
  
Third
Quarter
  
Fourth
Quarter
 
(in thousands, except share and per share data)
2019
           
Net sales
 
$
20,941
  
$
17,197
  
$
16,311
  
$
20,469
 
Gross profit
  
12,245
   
9,370
   
8,849
   
11,495
 
Net income (loss)
  
1,520
   
(875
)
  
(1,719
)
  
(829
)
Net income (loss) per common share:
                
Basic
 
$
0.17
  
$
(0.10
)
 
$
(0.19
)
 
$
(0.09
)
Diluted (2)
 
$
0.17
  
$
(0.10
)
 
$
(0.19
)
 
$
(0.09
)
Weighted average number of common shares outstanding:
                
Basic
  
9,009,752
   
8,933,648
   
8,932,246
   
9,020,187
 
Diluted
  
9,011,107
   
8,933,648
   
8,932,246
   
9,020,187
 

(2)  For the three months ended June 30, 2019, September 30, 2019 and December 31, 2019, there were 2,290, 2,704 and 8,387 shares, respectively, excluded from the diluted EPS calculation because the impact of their assumed exercise would be anti-dilutive due to a net loss in those periods.