Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Net sales $ 70,679 $ 80,779 $ 225,416 $ 191,204
Cost of sales 13,627 16,001 42,966 39,025
Gross profit 57,052 64,778 182,450 152,179
Operating expenses:        
Commissions expense 30,578 40,036 103,547 93,443
Selling, general and administrative expenses (including stock-based compensation expense of $10 and $21 during the three months ended September 30, 2016 and 2015, respectively, and $94 and $56 during the nine months ended September 30, 2016 and 2015, respectively) 11,170 9,867 34,505 24,571
Depreciation and amortization 96 72 276 181
Total operating expenses 41,844 49,975 138,328 118,195
Income from operations 15,208 14,803 44,122 33,984
Other income (expense), net 48 (135) 40 (112)
Income before income taxes 15,256 14,668 44,162 33,872
Income tax provision 2,699 137 8,124 330
Net income $ 12,557 $ 14,531 $ 36,038 $ 33,542
Income per common share:        
Basic (in dollars per share) $ 1.12 $ 1.19 $ 3.15 $ 2.71
Diluted (in dollars per share) $ 1.12 $ 1.18 $ 3.14 $ 2.70
Weighted-average number of common shares outstanding:        
Basic (in shares) 11,209 12,239 11,437 12,364
Diluted (in shares) 11,232 12,284 11,463 12,439
Cash dividends declared per share:        
Common (in dollars per share) $ 0.07 $ 0.04 $ 0.18 $ 0.09