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15. RETURNS RESERVE
Following is an analysis for the returns reserve:
Year Ended December 31,
2010 2009 2008
Balance at beginning of year ............................. $ 1,850 $ 2,074 $ 2,860
Provision for estimated returns ........................... 24,114 30,169 47,452
Actual returns ......................................... (24,955) (30,393) (48,238)
Balance at end of year .................................. $ 1,009 $ 1,850 $ 2,074
16. QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED)
Quarter
YearFirst Second Third Fourth
(In thousands, except per share amounts)
2010:
Revenue ................................ $158,830 $141,634 $121,189 $ 87,862 $509,515
Gross margin ............................ $ 86,691 $ 79,842 $ 68,535 $ 49,641 $284,709
Income from continuing operations ........... $ 4,899 $ 12,680 $ 9,221 $ 7,079 $ 33,879
(Loss) gain on discontinued operations, net ..... $ (98) $ (89) $ (66) $ 11 $ (242)
Net income .............................. $ 4,801 $ 12,591 $ 9,155 $ 7,090 $ 33,637
Basic income per common share:
Income from continuing operations ........... $ 0.16 $ 0.41 $ 0.32 $ 0.25 $ 1.14
Loss on discontinued operations ............. $ — $ (0.01) $ — $ — $ (0.01)
Net income .............................. $ 0.16 $ 0.40 $ 0.32 $ 0.25 $ 1.13
Diluted income per common share:
Income from continuing operations ........... $ 0.16 $ 0.40 $ 0.32 $ 0.25 $ 1.13
Loss on discontinued operations ............. $ (0.01) $ — $ — $ — $ (0.01)
Net income .............................. $ 0.15 $ 0.40 $ 0.32 $ 0.25 $ 1.12
2009:
Revenue ................................ $161,779 $131,000 $126,385 $105,454 $524,618
Gross margin ............................ $ 86,307 $ 70,696 $ 69,140 $ 57,312 $283,455
Income from continuing operations ........... $ 9,319 $ 9,117 $ 8,649 $ 5,788 $ 32,873
Loss on discontinued operations, net .......... $ (477) $ (338) $ (198) $ (3,070) $ (4,083)
Net income .............................. $ 8,842 $ 8,779 $ 8,451 $ 2,718 $ 28,790
Basic income per common share:
Income from continuing operations ........... $ 0.31 $ 0.30 $ 0.28 $ 0.19 $ 1.07
Loss on discontinued operation .............. $ (0.02) $ (0.01) $ (0.01) $ (0.10) $ (0.14)
Net income .............................. $ 0.29 $ 0.29 $ 0.27 $ 0.09 $ 0.93
Diluted income per common share:
Income from continuing operations ........... $ 0.30 $ 0.29 $ 0.28 $ 0.19 $ 1.06
Loss on discontinued operation .............. $ (0.01) $ (0.01) $ (0.01) $ (0.10) $ (0.14)
Net income .............................. $ 0.29 $ 0.28 $ 0.27 $ 0.09 $ 0.92
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