Annual report pursuant to Section 13 and 15(d)

SUMMARY OF QUARTERLY OPERATIONS - UNAUDITED

v2.4.0.8
SUMMARY OF QUARTERLY OPERATIONS - UNAUDITED
12 Months Ended
Dec. 31, 2013
SUMMARY OF QUARTERLY OPERATIONS - UNAUDITED  
SUMMARY OF QUARTERLY OPERATIONS - UNAUDITED

NOTE 16:  SUMMARY OF QUARTERLY OPERATIONS — UNAUDITED

 

The following tables presents the Company’s unaudited summary of quarterly operations during 2013 and 2012 for each of three month periods ended March 31, June 30, September 30, and December 31.

 

 

 

For the Quarter Ended

 

 

 

March 31,
2013

 

June 30,
2013

 

September
30, 2013

 

December
31, 2013

 

Net sales revenue

 

$

96,479

 

$

93,675

 

$

92,458

 

$

95,484

 

Cost of sales

 

(24,445

)

(22,630

)

(23,655

)

(24,084

)

Gross profit

 

72,034

 

71,045

 

68,803

 

71,400

 

 

 

 

 

 

 

 

 

 

 

Volume incentives

 

34,975

 

34,525

 

33,920

 

35,062

 

Selling, general and administrative

 

30,117

 

28,709

 

28,170

 

33,747

 

Operating income

 

6,942

 

7,811

 

6,713

 

2,591

 

Other income (expense)

 

330

 

1,482

 

(269

)

53

 

Income before income taxes

 

7,272

 

9,293

 

6,444

 

2,644

 

Tax provision

 

2,408

 

3,241

 

1,594

 

801

 

Net income

 

$

4,864

 

$

6,052

 

$

4,850

 

$

1,843

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted net income per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

Net income per common share

 

$

0.31

 

$

0.38

 

$

0.30

 

$

0.11

 

 

 

 

 

 

 

 

 

 

 

Diluted:

 

 

 

 

 

 

 

 

 

Net income per common share

 

$

0.30

 

$

0.38

 

$

0.29

 

$

0.11

 

 

 

 

 

 

 

 

 

 

 

Dividends declared per common share

 

$

0.10

 

$

0.10

 

$

1.60

 

$

0.10

 

 

 

 

For the Quarter Ended

 

 

 

March 31,
2012

 

June 30,
2012

 

September
30, 2012

 

December
31, 2012

 

Net sales revenue

 

$

92,868

 

$

92,991

 

$

91,232

 

$

90,377

 

Cost of sales

 

(23,729

)

(22,610

)

(23,144

)

(23,841

)

Gross profit

 

69,139

 

70,381

 

68,088

 

66,536

 

 

 

 

 

 

 

 

 

 

 

Volume incentives

 

33,581

 

33,540

 

33,155

 

32,991

 

Selling, general and administrative

 

26,384

 

26,530

 

26,228

 

27,719

 

Operating income

 

9,174

 

10,311

 

8,705

 

5,826

 

Other income (expense)

 

(110

)

165

 

(214

)

1,639

 

Income before income taxes

 

9,064

 

10,476

 

8,491

 

7,465

 

Tax provision

 

1,836

 

3,190

 

2,121

 

2,969

 

Net income

 

$

7,228

 

$

7,286

 

$

6,370

 

$

4,496

 

Basic and diluted net income per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

Net income per common share

 

$

0.46

 

$

0.47

 

$

0.41

 

$

0.28

 

 

 

 

 

 

 

 

 

 

 

Diluted:

 

 

 

 

 

 

 

 

 

Net income per common share

 

$

0.46

 

$

0.46

 

$

0.40

 

$

0.28

 

 

 

 

 

 

 

 

 

 

 

Dividends declared per common share

 

$

 

$

0.05

 

$

0.05

 

$

0.05

 

 

Basic and diluted income per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly net loss per share may not equal the total computed for the year.