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Item 6. Selected Financial Data
The following selected consolidated financial data should be read in connection with our audited consolidated financial statements and related
notes thereto and with Management's Discussion and Analysis of Financial Condition and Results of Operations, which are included elsewhere
in this Form 10-
K. The consolidated statements of operations data for fiscal 2013, 2012 and 2011, and the selected consolidated balance sheet
data as of December 31, 2013 and 2012 are derived from, and are qualified by reference to, the audited consolidated financial statements which
are included in this Form 10-
K. The consolidated statements of operations data for fiscal 2010 and 2009 and the consolidated balance sheet data
as of December 31, 2011, 2010 and 2009 are derived from audited consolidated financial statements which are not included in this Form 10-K.
For the Year Ended December 31,
(In thousands, except per share amounts)
2013
2012
2011
2010
2009
Consolidated Statements of Operations Data
Net sales
$
218,803
$
193,926
$
180,412
$
168,450
$
189,260
Cost of sales
112,326
102,889
101,953
91,704
92,745
Gross profit
106,477
91,037
78,459
76,746
96,515
Operating expenses:
Selling and marketing
66,486
58,617
54,494
64,039
75,827
General and administrative
18,705
17,669
17,143
19,371
24,616
Research and development
5,562
4,163
3,223
2,905
5,222
Restructuring
—
—
—
—
14,151
Asset impairment
—
—
—
—
5,904
Total operating expenses
90,753
80,449
74,860
86,315
125,720
Operating income (loss)
15,724
10,588
3,599
(9,569
)
(29,205
)
Other income (expense):
Interest income
14
18
65
15
77
Interest expense
(36
)
56
(466
)
(140
)
(168
)
Other
337
(246
)
(11
)
464
(194
)
Total other income (expense)
315
(172
)
(412
)
339
(285
)
Income (loss) from continuing operations before income taxes
16,039
10,416
3,187
(9,230
)
(29,490
)
Income tax provision (benefit)
(1)
(32,085
)
(226
)
686
588
(10,880
)
Income (loss) from continuing operations
48,124
10,642
2,501
(9,818
)
(18,610
)
Income (loss) from discontinued operations
(170
)
6,241
(1,081
)
(13,023
)
(34,687
)
Net income (loss)
$
47,954
$
16,883
$
1,420
$
(22,841
)
$
(53,297
)
Basic income (loss) per share from continuing operations
$
1.55
$
0.34
$
0.08
$
(0.32
)
$
(0.61
)
Basic income (loss) per share from discontinued operations
(0.01
)
0.21
(0.03
)
(0.42
)
(1.13
)
Basic net income (loss) per share
$
1.54
$
0.55
$
0.05
$
(0.74
)
$
(1.74
)
Diluted income (loss) per share from continuing operations
$
1.53
$
0.34
$
0.08
$
(0.32
)
$
(0.61
)
Diluted income (loss) per share from discontinued operations
(0.01
)
0.21
(0.03
)
(0.42
)
(1.13
)
Diluted net income (loss) per share
$
1.52
$
0.55
$
0.05
$
(0.74
)
$
(1.74
)
Shares used in per share calculations:
Basic
31,072
30,851
30,746
30,744
30,664
Diluted
31,457
30,974
30,776
30,744
30,664
As of December 31,
Consolidated Balance Sheet Data
2013
2012
2011
2010
2009
Cash and cash equivalents
$
40,979
$
23,207
$
17,427
$
14,296
$
7,289
Working capital
45,662
25,410
19,439
15,316
21,063