Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.3.1.900
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Income Statement [Abstract]    
Net sales $ 264,860 $ 124,590
Cost of sales 54,098 26,981
Gross profit 210,762 97,609
Operating expenses:    
Commissions expense 126,598 56,997
Selling, general and administrative expenses (including stock-based compensation expense of $86 and $49 during 2015 and 2014, respectively) 36,024 19,687
Depreciation and amortization 263 105
Total operating expenses 162,885 76,789
Income from operations 47,877 20,820
Other expense, net (84) (184)
Income before income taxes 47,793 20,636
Income tax provision 552 266
Net income 47,241 20,370
Preferred stock dividends 0 (10)
Net income available to common stockholders $ 47,241 $ 20,360
Income per common share:    
Basic (in dollars per share) $ 3.84 $ 1.67
Diluted (in dollars per share) $ 3.82 $ 1.61
Weighted-average number of common shares outstanding:    
Basic (in shares) 12,302 12,131
Diluted (in shares) 12,372 12,600