Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.2.0.727
Consolidated Statements of Operations (Unaudited) - Scenario, Unspecified [Domain] - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Net sales $ 69,716 $ 34,189 $ 110,425 $ 57,351
Cost of sales 14,094 7,509 23,024 12,761
Gross profit 55,622 26,680 87,401 44,590
Operating expenses:        
Distributor commissions 35,010 15,458 53,407 25,881
Selling, general and administrative expenses (including stock-based compensation expense of $9 and $20 during the three months ended June 30, 2014 and 2015, respectively, and $34 and $35 during the six months ended June 30, 2014 and 2015, respectively) 8,281 5,031 14,704 9,378
Depreciation and amortization 68 23 109 44
Total operating expenses 43,359 20,512 68,220 35,303
Income from operations 12,263 6,168 19,181 9,287
Other income (expense), net 132 1 23 (8)
Income before income taxes 12,395 6,169 19,204 9,279
Income tax provision 122 59 193 98
Net income $ 12,273 6,110 $ 19,011 9,181
Preferred stock dividends   (3)   (7)
Net income available to common stockholders $ 12,273 $ 6,107 $ 19,011 $ 9,174
Income per common share:        
Basic (in dollars per share) $ 0.99 $ 0.51 $ 1.53 $ 0.78
Diluted (in dollars per share) $ 0.98 $ 0.49 $ 1.52 $ 0.76
Weighted-average number of common shares outstanding:        
Basic (in shares) 12,403 11,821 12,428 11,592
Diluted (in shares) 12,461 12,305 12,513 12,050
Cash dividends declared per share:        
Common (in dollars per share) $ 0.03 $ 0.005 $ 0.05 $ 0.01
Series A preferred stock (in dollars per share)   $ 0.02   $ 0.835