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NOTE 17: SUMMARY OF QUARTERLY OPERATIONS — UNAUDITED
The following tables presents the Company’s unaudited summary of quarterly operations during 2011 and 2010 for each of three month periods ended March 31, June 30, September 30, and December 31 (amounts in thousands).
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For the Quarter Ended
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March 31,
2011
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June 30,
2011
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September
30, 2011
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December
31, 2011
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Net sales revenue
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$
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92,844
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$
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91,811
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$
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91,102
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$
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92,056
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Cost of goods sold
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18,552
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17,129
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16,879
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16,850
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Gross profit
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74,292
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74,682
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74,223
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75,206
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Volume incentives
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34,298
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33,390
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32,733
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33,462
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Selling, general and administrative
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32,373
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33,240
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31,845
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32,147
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Contract termination costs
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—
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—
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14,750
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—
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Operating income (loss)
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7,621
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8,052
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(5,105
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)
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9,597
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Other income (expense)
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265
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(420
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)
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1,204
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|
798
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Income (loss) before income taxes
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7,886
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7,632
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(3,901
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)
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10,395
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Tax provision (benefit)
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1,264
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2,018
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(1,645
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)
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2,774
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Net income (loss)
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$
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6,622
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|
5,614
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$
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(2,256
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)
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$
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7,621
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Basic and diluted net income (loss) per common share
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Basic:
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Net income (loss)
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0.43
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0.36
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(0.14
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)
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0.49
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Diluted:
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Net income (loss)
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0.43
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0.36
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(0.14
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)
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0.48
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For the Quarter Ended
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March 31,
2010
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June 30,
2010
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September
30, 2010
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December
31, 2010
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Net sales revenue
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$
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86,790
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$
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87,143
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$
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86,096
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$
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89,889
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Cost of goods sold
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17,917
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16,759
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16,632
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17,732
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Gross profit
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68,873
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70,384
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69,464
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72,157
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Volume incentives
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32,551
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32,546
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32,065
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33,205
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Selling, general and administrative
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35,752
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34,565
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33,523
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35,408
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Operating income (loss)
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570
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3,273
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3,876
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3,544
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Other income (expense)
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2,901
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(902
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)
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375
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|
353
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Income (loss) before income taxes
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3,471
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2,371
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4,251
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3,897
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Tax provision (benefit)
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(1,300
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)
|
965
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1,573
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4,283
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Net income (loss) from continuing operations
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4,771
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1,406
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2,678
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(386
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)
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Income (loss) from discontinued operations
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(618
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)
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(352
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)
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(8,418
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)
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(314
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)
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Net income (loss)
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$
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4,153
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$
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1,054
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$
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(5,740
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)
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$
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(700
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)
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Basic and diluted net income (loss) per common share
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Basic:
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Net income (loss) from continuing operations
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0.31
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0.09
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0.17
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(0.02
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)
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Loss from discontinued operations
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(0.04
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)
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(0.02
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)
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(0.54
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)
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(0.02
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)
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Net income (loss)
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0.27
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0.07
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(0.37
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)
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(0.04
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)
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Diluted:
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Net income (loss) from continuing operations
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0.31
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0.09
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0.17
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(0.02
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)
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Loss from discontinued operations
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(0.04
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)
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(0.02
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)
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(0.54
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)
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(0.02
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)
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Net income (loss)
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0.27
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0.07
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(0.37
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)
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(0.04
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)
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Basic and diluted income (loss) 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.
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