Annual report pursuant to Section 13 and 15(d)

Selected Quarterly Financial Data

v3.10.0.1
Selected Quarterly Financial Data
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data

19. Selected Quarterly Financial Data—UNAUDITED

Unaudited quarterly financial data are as follows (in thousands, except per share amounts):

 

1st

Quarter

 

 

2nd

Quarter

 

 

3rd

Quarter

 

 

4th

Quarter

 

Year Ended December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

$

134,213

 

 

$

149,612

 

 

$

153,459

 

 

$

143,422

 

Operating  income

 

38,739

 

 

 

48,467

 

 

 

57,147

 

 

 

102,674

 

Net income (1)

 

27,640

 

 

 

36,083

 

 

 

46,260

 

 

 

138,844

 

Basic and diluted earnings per common share

 

0.19

 

 

 

0.25

 

 

 

0.32

 

 

 

0.96

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

$

124,393

 

 

$

123,323

 

 

$

110,281

 

 

$

129,099

 

Operating  income

 

28,196

 

 

 

32,888

 

 

 

15,700

 

 

 

33,166

 

Net income (loss) (1)

 

24,299

 

 

 

33,315

 

 

 

(1,297

)

 

 

23,365

 

Basic and diluted earnings (loss) per common share

 

0.17

 

 

 

0.23

 

 

 

(0.01

)

 

 

0.16

 

 

(1)

During the fourth quarter of 2018, we recorded a gain on debt transactions of $47.1 million and a derivative gain of $59.7 million.  During the first quarter of 2017, we recorded a gain on debt transactions of $7.8 million.  See Note 2 and Note 9 for additional information.

 

 

(2)

The sum of the individual quarterly earnings (loss) per common share may not agree with the yearly amount due to each quarterly calculation is based on income for that quarter and the weighted average common shares outstanding for that quarter.