Unaudited Selected Quarterly Financial Data

12 Months Ended

Dec. 31, 2020

Unaudited Selected Quarterly Financial Data

22. UNAUDITED SELECTED QUARTERLY FINANCIAL DATA

Summarized below is our unaudited quarterly financial data (in thousands, except per share data):

	At and For the Quarters Ended 2020
	December 31			September 30		June 30			March 31
Services and product sales revenue	$	113,749		$	105,382	$	115,736		$	152,400
Cost of services and product sales		87,918			81,038		90,680			115,131
Other operating expenses ⁽³⁾		2,427			13,013		27,623			146,242
Operating income (loss)		23,404			11,331		(2,567	)		(108,973	)
Interest expense		2,920			4,672		3,369			3,411
Income (loss) before income tax		20,484			6,659		(5,936	)		(112,384	)
Income tax expense (benefit)		6,540			3,663		(261	)		(4,046	)
Income (loss) from continuing operations		13,944			2,996		(5,675	)		(108,338	)
Income (loss) from discontinued operations		(424	)		—		—			—
Net income (loss)		13,520			2,996		(5,675	)		(108,338	)
Net income (loss) attributable to non-controlling interest		(17	)		33		41			83
Net income (loss) attributable to Core Laboratories N.V.	$	13,537		$	2,963	$	(5,716	)	$	(108,421	)
Per share information:
Basic earnings (loss) per share ^{(1) (2)}	$	0.30		$	0.07	$	(0.13	)	$	(2.44	)
Diluted earnings (loss) per share ^{(1) (2)}	$	0.30		$	0.07	$	(0.13	)	$	(2.44	)
Weighted average common shares outstanding:
Basic		44,499			44,491		44,470			44,447
Assuming dilution		44,958			44,899		44,470			44,447

	At and For the Quarters Ended 2019
	December 31			September 30			June 30		March 31
Services and product sales revenue	$	156,778		$	173,200		$	169,038	$	169,194
Cost of services and product sales		117,749			125,996			124,451		127,383
Other operating expenses ⁽³⁾		17,974			15,997			16,579		25,397
Operating income		21,055			31,207			28,008		16,414
Interest expense		3,588			3,662			3,714		3,726
Income before income tax		17,467			27,545			24,294		12,688
Income tax expense (benefit)		7,177			3,335			4,808		(27,610	)
Income (loss) from continuing operations		10,290			24,210			19,486		40,298
Income (loss) from discontinued operations		—			(397	)		7,971		259
Net income		10,290			23,813			27,457		40,557
Net income (loss) attributable to non-controlling interest		(40	)		84			43		47
Net income attributable to Core Laboratories N.V.	$	10,330		$	23,729		$	27,414	$	40,510
Per share information:
Basic earnings per share ^{(1) (2)}	$	0.23		$	0.54		$	0.62	$	0.91
Diluted earnings per share ^{(1) (2)}	$	0.23		$	0.53		$	0.61	$	0.91
Weighted average common shares outstanding:
Basic		44,379			44,371			44,354		44,323
Assuming dilution		44,634			44,716			44,815		44,734

(1)

Basic earnings per share and Diluted earnings per share are based on Net income attributable to Core Laboratories N.V.

(2)

The sum of the individual quarterly earnings per share amounts may not agree with the year-to-date earnings per share amounts as each quarterly computation is based on the weighted average number of common shares outstanding during that period.

(3)

First quarter of 2019 includes charges of $7.2 million, of additional stock compensation expenses. See Note 14.