Nautilus 2013 Annual Report Download - page 59

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We regularly monitor our estimated exposure to these contingencies and, as additional information becomes known, may change our estimates
accordingly. We evaluate, on a quarterly basis, developments in legal proceedings, investigations or claims that could affect the amount of any
accrual, as well as any developments that would make a loss probable or reasonably possible, and whether the amount of a probable or
reasonably possible loss is estimable. Among other factors, we evaluate the advice of internal and external counsel, the outcomes from similar
litigation, current status of the lawsuits (including settlement initiatives), legislative developments and other factors. Due to the numerous
variables associated with these judgments and assumptions, both the precision and reliability of the resulting estimates of the related loss
contingencies are subject to substantial uncertainties.
(16) SUPPLEMENTARY INFORMATION - QUARTERLY RESULTS OF OPERATIONS (unaudited)
The following table summarizes our unaudited quarterly financial data for 2013 and 2012 (in thousands, except per share amounts):
(1) Net income in the quarter ended June 30, 2013 included a $35.8 million credit related to the reversal of our deferred tax asset valuation allowance.
(2) Net income in the quarter ended December 31, 2012 included $6.2 million currency translation adjustment gain related to the liquidation of European
subsidiaries.
52
Quarter Ended
March 31 June 30 September 30 December 31 Total
2013
Net sales
$
59,214
$
36,242
$
46,256
$
77,091
$
218,803
Gross profit
30,694
17,329
21,777
36,677
106,477
Operating income (loss)
5,994
(1,724
)
1,336
10,118
15,724
Income from continuing operations
5,524
32,668
1,500
8,432
48,124
Income (loss) from discontinued operations
(365
)
195
(116
)
116
(170
)
Net income
(1)
5,159
32,863
1,384
8,548
47,954
Net income per share:
Basic
$
0.17
$
1.06
$
0.04
$
0.27
$
1.54
Diluted
0.17
1.05
0.04
0.27
1.52
2012
Net sales
$
51,262
$
39,583
$
38,052
$
65,029
$
193,926
Gross profit
23,905
17,168
18,541
31,423
91,037
Operating income (loss)
2,829
(599
)
698
7,660
10,588
Income (loss) from continuing operations
2,647
(486
)
1,216
7,265
10,642
Income (loss) from discontinued operations
(125
)
322
(265
)
6,309
6,241
Net income (loss)
(2)
2,522
(164
)
951
13,574
16,883
Net income (loss) per share:
Basic
$
0.08
$
(0.01
)
$
0.03
$
0.44
$
0.55
Diluted
0.08
(0.01
)
0.03
0.44
0.55