Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
CONSOLIDATED STATEMENTS OF OPERATIONS        
Net sales revenue $ 81,247 $ 92,831 $ 165,125 $ 186,298
Cost of sales (21,068) (22,793) (42,949) (45,374)
Gross profit 60,179 70,038 122,176 140,924
Operating expenses:        
Volume incentives 29,603 34,270 59,940 69,163
Selling, general and administrative 27,392 29,941 53,722 59,093
Operating income 3,184 5,827 8,514 12,668
Other income (loss), net (2) (79) (320) (341)
Income from continuing operations before provision for income taxes 3,182 5,748 8,194 12,327
Provision (benefit) for income taxes 787 2,198 1,596 (1,459)
Net income from continuing operations 2,395 3,550 6,598 13,786
Income (loss) from discontinued operations   (316) 1,312 (887)
Net income 2,395 3,234 7,910 12,899
Net loss attributable to non-controlling interests (166)   (318)  
Net income attributable to common shareholders $ 2,561 $ 3,234 $ 8,228 $ 12,899
Basic:        
Net income from continuing operations (in dollars per share) $ 0.13 $ 0.22 $ 0.35 $ 0.85
Income (loss) from discontinued operations (in dollars per share)   (0.02) 0.07 (0.05)
Net income attributable to common shareholders (in dollars per share) 0.14 0.20 0.44 0.80
Diluted:        
Net income from continuing operations (in dollars per share) 0.12 0.22 0.34 0.84
Income (loss) from discontinued operations (in dollars per share)   (0.02) 0.07 (0.05)
Net income attributable to common shareholders (in dollars per share) $ 0.13 $ 0.20 $ 0.43 $ 0.79
Weighted average basic common shares outstanding (in shares) 18,720 16,187 18,671 16,183
Weighted average diluted common shares outstanding (in shares) 19,244 16,224 19,157 16,392
Dividends declared per common share (in dollars per share) $ 0.10 $ 0.10 $ 0.20 $ 0.20