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Condensed Consolidated Statement of Operations | |||||||
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(Unaudited, in thousands, except per share amounts) | |||||||
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Three Months Ended June 30, |
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Six Months Ended June 30, | ||||
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|
2014 |
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2013 |
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2014 |
|
2013 |
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Revenue |
$ 68,436 |
|
$ 57,714 |
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$ 128,497 |
|
$ 109,184 |
|
Cost of revenue |
31,337 |
|
26,786 |
|
59,301 |
|
50,871 |
|
Gross profit |
37,099 |
|
30,928 |
|
69,196 |
|
58,313 |
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Operating expenses: |
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|
|
|
|
|
|
|
Research and development |
13,368 |
|
12,478 |
|
28,971 |
|
24,601 |
|
Selling, general and administrative |
16,853 |
|
13,793 |
|
32,962 |
|
27,051 |
|
Litigation expense (benefit), net |
274 |
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(257) |
|
(8,426) |
|
(558) |
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Total operating expenses |
30,495 |
|
26,014 |
|
53,507 |
|
51,094 |
|
Income from operations |
6,604 |
|
4,914 |
|
15,689 |
|
7,219 |
|
Interest and other income, net |
295 |
|
218 |
|
485 |
|
208 |
|
Income before income taxes |
6,899 |
|
5,132 |
|
16,174 |
|
7,427 |
|
Income tax provision (benefit) |
502 |
|
(357) |
|
759 |
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(562) |
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Net income |
$ 6,397 |
|
$ 5,489 |
|
$ 15,415 |
|
$ 7,989 |
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Net income per share: |
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|
Basic |
$ 0.17 |
|
$ 0.15 |
|
$ 0.40 |
|
$ 0.22 |
|
Diluted |
$ 0.16 |
|
$ 0.14 |
|
$ 0.39 |
|
$ 0.21 |
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Weighted-average shares outstanding: |
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|
|
|
|
|
|
|
Basic |
38,684 |
|
37,053 |
|
38,577 |
|
36,657 |
|
Diluted |
39,608 |
|
38,239 |
|
39,563 |
|
38,019 |
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|
|
|
|
|
|
|
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Cash dividends declared per common share |
$ 0.15 |
|
$ - |
|
$ 0.15 |
|
$ - |
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