Annual report pursuant to Section 13 and 15(d)

SUMMARY OF QUARTERLY OPERATIONS - UNAUDITED

v2.4.1.9
SUMMARY OF QUARTERLY OPERATIONS - UNAUDITED
12 Months Ended
Dec. 31, 2014
SUMMARY OF QUARTERLY OPERATIONS - UNAUDITED  
SUMMARY OF QUARTERLY OPERATIONS - UNAUDITED

 

NOTE 17:  SUMMARY OF QUARTERLY OPERATIONS — UNAUDITED

 

The following tables presents the Company’s unaudited summary of quarterly operations during 2014 and 2013 for each of three month periods ended March 31, June 30, September 30, and December 31.

 

 

 

For the Quarter Ended

 

 

 

March 31,
2014

 

June 30,
2014

 

September
30, 2014

 

December
31, 2014

 

Net sales revenue

 

$

93,467

 

$

92,831

 

$

93,406

 

$

86,663

 

Cost of sales

 

(22,581

)

(22,793

)

(22,742

)

(23,468

)

Gross profit

 

70,886

 

70,038

 

70,664

 

63,195

 

 

 

 

 

 

 

 

 

 

 

Volume incentives

 

34,893

 

34,270

 

34,918

 

31,727

 

Selling, general and administrative

 

29,152

 

29,941

 

30,200

 

30,634

 

Operating income

 

6,841

 

5,827

 

5,546

 

834

 

Other income (expense)

 

(262

)

(79

)

(42

)

349

 

Income from continuing operations before income taxes

 

6,579

 

5,748

 

5,504

 

1,183

 

Provision (benefit) for income taxes

 

(3,657

)

2,198

 

407

 

309

 

Net income from continuing operations

 

10,236

 

3,550

 

5,097

 

874

 

Loss from discontinued operations

 

(571

)

(316

)

(4,106

)

(4,964

)

Net income (loss)

 

9,665

 

3,234

 

991

 

(4,090

)

Net income (loss) attributable to noncontrolling interests

 

 

 

(26

)

(193

)

Net income (loss) attributable to common shareholders

 

$

9,665

 

$

3,234

 

$

1,017

 

$

(3,897

)

 

 

 

 

 

 

 

 

 

 

Basic and diluted net income per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

Net income from continuing operations

 

$

0.63

 

$

0.22

 

$

0.30

 

$

0.05

 

Income (loss) from discontinued operations

 

$

(0.03

)

$

(0.02

)

$

(0.24

)

$

(0.26

)

Net income (loss) attributable to common shareholders

 

$

0.60

 

$

0.20

 

$

0.06

 

$

(0.21

)

 

 

 

 

 

 

 

 

 

 

Diluted:

 

 

 

 

 

 

 

 

 

Net income from continuing operations

 

$

0.61

 

$

0.22

 

$

0.29

 

$

0.05

 

Income (loss) from discontinued operations

 

$

(0.03

)

$

(0.02

)

$

(0.23

)

$

(0.25

)

Net income (loss) attributable to common shareholders

 

$

0.58

 

$

0.20

 

$

0.06

 

$

(0.20

)

 

 

 

 

 

 

 

 

 

 

Dividends declared per common share

 

$

0.10

 

$

0.10

 

$

1.60

 

$

0.10

 

 

 

 

For the Quarter Ended

 

 

 

March 31,
2013

 

June 30,
2013

 

September
30, 2013

 

December
31, 2013

 

Net sales revenue

 

$

94,375

 

$

91,782

 

$

90,405

 

$

93,264

 

Cost of sales

 

(23,741

)

(22,075

)

(22,917

)

(23,611

)

Gross profit

 

70,634

 

69,707

 

67,488

 

69,653

 

 

 

 

 

 

 

 

 

 

 

Volume incentives

 

34,182

 

33,838

 

33,203

 

34,293

 

Selling, general and administrative

 

29,522

 

28,068

 

27,773

 

33,020

 

Operating income

 

6,930

 

7,801

 

6,512

 

2,340

 

Other income (expense)

 

438

 

1,522

 

(216

)

249

 

Income from continuing operations before income taxes

 

7,368

 

9,323

 

6,296

 

2,589

 

Provision for income taxes

 

2,302

 

3,235

 

1,610

 

776

 

Net income from continuing operations

 

5,066

 

6,088

 

4,686

 

1,813

 

Income (loss) from discontinued operations

 

(202

)

(36

)

164

 

30

 

Net income

 

4,864

 

6,052

 

4,850

 

1,843

 

Net income (loss) attributable to noncontrolling interests

 

 

 

 

 

Net income attributable to common shareholders

 

$

4,864

 

$

6,052

 

$

4,850

 

$

1,843

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted net income per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

Net income from continuing operations

 

$

0.32

 

$

0.38

 

$

0.29

 

$

0.11

 

Income (loss) from discontinued operations

 

$

(0.01

)

$

 

$

0.01

 

$

 

Net income attributable to common shareholders

 

$

0.31

 

$

0.38

 

$

0.30

 

$

0.11

 

 

 

 

 

 

 

 

 

 

 

Diluted:

 

 

 

 

 

 

 

 

 

Net income from continuing operations

 

$

0.31

 

$

0.38

 

$

0.28

 

$

0.11

 

Income (loss) from discontinued operations

 

$

(0.01

)

$

 

$

0.01

 

$

 

Net income attributable to common shareholders

 

$

0.30

 

$

0.38

 

$

0.29

 

$

0.11

 

 

 

 

 

 

 

 

 

 

 

Dividends declared per common share

 

$

0.10

 

$

0.10

 

$

1.60

 

$

0.10

 

 

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.