The following table presents unaudited quarterly operating results for each of our last eight fiscal quarters. This information  has been prepared on a basis consistent with our audited financial statements and includes all adjustments, consisting only of  normal recurring adjustments, considered necessary for a fair presentation of the data. 15  Summarized Quarterly Financial Data (Unaudited) Three Months Ended March 31, 2013 June 30, 2013 September 30, 2013 December 31, 2013 Net sales $143,013 $162,233 $177,404 $159,094 Gross profit $69,677 $79,798 $82,547 $76,864 Operating income $6,563 $14,053 $17,210 $10,639 Net income  $7,890 $9,859 $16,205 $11,840 Earnings per common share  $0.13 $0.17 $0.28 $0.21 Earnings per common share  assuming dilution (1) $0.13 $0.17 $0.28 $0.20 Three Months Ended March 31, 2012 June 30, 2012 September 30, 2012 December 31, 2012 Net sales $134,735 $183,998 $162,125 $139,756 Gross profit $74,087 $95,201 $79,972 $67,383 Operating income $16,181 $26,838 $10,276 $2,874 Net income  $12,960 $21,070 $9,272 $3,961 Earnings per common share  $0.20 $0.33 $0.15 $0.06 Earnings per common share  assuming dilution (1) $0.20 $0.33 $0.15 $0.06 (1) Assumes exercise of dilutive stock options calculated under the treasury stock method. We employ the law firm of our director emeritus for legal services. All bills for services rendered by this firm are reviewed and  approved by our Chief Financial Officer. We believe that the fees for such services are comparable to those charged by other  firms for services rendered to us. For the years ended 2013, 2012 and 2011, we incurred fees of $10 thousand per month for  these legal services. On January 21, 2014, the Board declared a quarterly cash dividend of $0.09 per common share to be paid to shareholders of record at the close of business on February 6, 2014. The quarterly dividend payment was $5.1 million and was paid on  February 20, 2014. In July 2003, our Board of Directors elected to begin declaring quarterly dividends on our common stock  considering the tax treatment of dividends and adequate levels of Company liquidity. In February 2014, we made a decision to make a $16.5 million principal payment on the Amended and Restated Bond.  The restricted certificate of deposit included in our long-term investments will be reduced by the amount of the payment. We anticipate this payment will be made during the first quarter of 2014. As of February 27, 2014, we have repurchased 0.4 million shares of our common stock through open market purchases at an average cost of $25.13 per share. We currently have the authority to purchase an additional 3.1 million shares of our common stock under the current plan approved by the Board of Directors. Financial Results 67 17  Subsequent Events 16  Related Party Transactions Unaudited Quarterly Operating Results (In thousands, except for per share amounts)