Nutrisystem 2009 Annual Report Download - page 66

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15. QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED)
Quarter
First Second Third Fourth Year
(In thousands, except per share amounts)
2009:
Revenue ................................ $162,690 $131,813 $127,031 $106,197 $527,731
Gross margin ............................ $ 86,416 $ 70,863 $ 69,255 $ 57,507 $284,041
Income from continuing operations ........... $ 8,847 $ 8,801 $ 8,511 $ 2,877 $ 29,036
Loss on discontinued operation, net ........... $ (5) $ (22) $ (60) $ (159) $ (246)
Net income .............................. $ 8,842 $ 8,779 $ 8,451 $ 2,718 $ 28,790
Basic income per common share:
Income from continuing operations ........... $ 0.29 $ 0.29 $ 0.27 $ 0.09 $ 0.94
Net loss from discontinued operation ......... $ — $ — $ — $ — $ (0.01)
Net income .............................. $ 0.29 $ 0.29 $ 0.27 $ 0.09 $ 0.93
Diluted income per common share:
Income from continuing operations ........... $ 0.29 $ 0.28 $ 0.27 $ 0.09 $ 0.93
Net loss from discontinued operation ......... $ — $ — $ — $ — $ (0.01)
Net income .............................. $ 0.29 $ 0.28 $ 0.27 $ 0.09 $ 0.92
2008:
Revenue ................................ $216,468 $194,029 $162,681 $114,563 $687,741
Gross margin ............................ $113,116 $100,808 $ 86,340 $ 61,024 $361,288
Income (loss) from continuing operations ...... $ 14,121 $ 21,968 $ 13,695 $ (3,357) $ 46,427
(Loss) income on discontinued operation, net . . . $ (24) $ (14) $ (164) $ 28 $ (174)
Net income (loss) ......................... $ 14,097 $ 21,954 $ 13,531 $ (3,329) $ 46,253
Basic income per common share:
Income (loss) from continuing operations ...... $ 0.42 $ 0.70 $ 0.44 $ (0.11) $ 1.48
Net loss from discontinued operation ......... $ — $ — $ — $ — $ (0.01)
Net income (loss) ......................... $ 0.42 $ 0.70 $ 0.44 $ (0.11) $ 1.47
Diluted income per common share:
Income (loss) from continuing operations ...... $ 0.41 $ 0.69 $ 0.44 $ (0.11) $ 1.46
Net loss from discontinued operation ......... $ — $ — $ (0.01) $ — $ (0.01)
Net income (loss) ......................... $ 0.41 $ 0.69 $ 0.43 $ (0.11) $ 1.45
The sum of the quarterly basic and diluted per share amounts may not equal amounts reported for the year. This
is due to the effects of rounding and changes in weighted average shares outstanding for each period.
During the fourth quarter of 2009, an impairment charge of $4,541 was recorded in connection with the
NuKitchen acquisition. This charge consisted of $2,717 of goodwill and $1,824 of identifiable intangible assets.
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