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 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Income Statement [Abstract]        
Net sales $ 80,391 $ 69,716 $ 154,737 $ 110,425
Cost of sales 15,059 14,094 29,339 23,024
Gross profit 65,332 55,622 125,398 87,401
Operating expenses:        
Commissions expense 37,883 35,010 72,969 53,407
Selling, general and administrative expenses (including stock-based compensation expense of $10 and $20 during the three months ended June 30, 2016 and 2015, respectively, and $84 and $35 during the six months ended June 30, 2016 and 2015, respectively) 12,431 8,281 23,335 14,704
Depreciation and amortization 91 68 180 109
Total operating expenses 50,405 43,359 96,484 68,220
Income from operations 14,927 12,263 28,914 19,181
Other income (expense), net 16 132 (8) 23
Income before income taxes 14,943 12,395 28,906 19,204
Income tax provision 2,742 122 5,425 193
Net income $ 12,201 $ 12,273 $ 23,481 $ 19,011
Income per common share:        
Basic (in dollars per share) $ 1.08 $ 0.99 $ 2.03 $ 1.53
Diluted (in dollars per share) $ 1.07 $ 0.98 $ 2.03 $ 1.52
Weighted-average number of common shares outstanding:        
Basic (in shares) 11,333 12,403 11,553 12,428
Diluted (in shares) 11,359 12,461 11,579 12,513
Cash dividends declared per share:        
Common (in dollars per share) $ 0.06 $ 0.03 $ 0.11 $ 0.05