12.	Unaudited Quarterly Financial Data

	Quarter Ended
	March 31			June 30			September 30			December 31
	(in thousands, except per share amounts)
2017:
Total revenues	$	192,470		$	192,713		$	199,195		$	205,204
Total cost of revenues (exclusive of depreciation)		97,708			97,660			99,717			99,726
Operating income (1)		27,013			24,248			28,376			26,048
Income before income taxes (1)		22,350			20,303			23,386			21,671
Income tax provision (2)		(2,113	)		(8,722	)		(8,806	)		(6,705	)
Net income (1)(2)		20,237			11,581			14,580			14,966
Basic earnings per common share (1)(2)	$	0.63		$	0.36		$	0.45		$	0.46
Diluted earnings per common share (1)(2)		0.62			0.35			0.44			0.45

2016:
Total revenues	$	186,226		$	190,252		$	189,311		$	195,169
Total cost of revenues (exclusive of depreciation)		89,483			92,783			93,420			99,461
Operating income (3)		41,291			29,374			36,598			25,366
Income before income taxes (3)		33,094			17,285			30,159			19,461
Income tax provision (2)		(11,590	)		(6,448	)		(12,265	)		(6,814	)
Net income (2)(3)		21,504			10,837			17,894			12,647
Basic earnings per common share (2)(3)	$	0.70		$	0.35		$	0.58		$	0.41
Diluted earnings per common share (2)(3)		0.64			0.33			0.55			0.38

(1)	During the first, second, third, and fourth quarters of 2017 we incurred restructuring and reorganization charges of $0.2 million, $2.7 million, $1.6 million, and $4.2 million, respectively, or $0.01, $0.05, $0.03, and $0.09 per diluted share (see Note 6).

(2)

Fluctuations in our effective income tax rate between quarters generally relates to the accounting for discrete income tax items in any given quarter, and revisions of estimates for certain income tax components during the year.

For 2017: Our effective income tax rates for the first, second, third, and fourth quarters were 9%, 43%, 38%, and 31%, respectively. The first quarter 2017 effective income tax rate reflects an approximately $5 million net benefit resulting from Comcast’s exercise of 1.4 million vested stock warrants in January 2017 (see Note 10) and the fourth quarter effective income tax rate includes a $2 million benefit from the remeasurement of U.S.-based net deferred tax liabilities as required under the U.S. Tax reform enacted in December 2017 (see Note 7).

For 2016: Our effective income tax rates for the first, second, third, and fourth quarters were 35%, 37%, 41%, and 35%, respectively.

(3)

During the first, second, and fourth quarters of 2016 we incurred restructuring and reorganization charges of $(5.7) million, $5.3 million, and $1.0 million, respectively, or $(0.11), $0.10, and $0.02 per diluted share. The negative restructuring and reorganization charges in the first quarter reflect the gain on disposition of business operations (see Note 6).