(24)QUARTERLY FINANCIAL DATA (UNAUDITED)

The following tables present certain quarterly financial data for the year ended December 31, 2015 (in thousands except per share amounts).


	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter

Revenue	$	325,521	$	310,223	$	309,195	$	341,816
Cost of services		232,984		223,617		225,978		245,668
Selling, general and administrative		50,237		47,376		48,418		48,575
Depreciation and amortization		15,363		15,680		15,486		17,279
Restructuring charges, net		809		198		622		185
Impairment losses		—		—		3,066		5,034
Income from operations		26,128		23,352		15,625		25,075
Other income (expense)		(1,688)		(18)		(1,995)		(590)
Provision for income taxes		(4,405)		(7,841)		(1,192)		(6,566)
Non-controlling interest		(1,263)		(797)		(1,243)		(916)
Net income attributable to TeleTech stockholders	$	18,772	$	14,696	$	11,195	$	17,003

Weighted average shares outstanding
Basic		48,370		48,325		48,345		48,439
Diluted		49,158		49,064		48,936		48,853

Net income per share attributable to TeleTech stockholders
Basic	$	0.39	$	0.30	$	0.23	$	0.35
Diluted	$	0.38	$	0.30	$	0.23	$	0.35

Included in the fourth quarter is an additional $2.9 million expense related to the correction of an error in goodwill impairment annual assessment that should have been recorded in the fourth quarter of 2014 and the third quarter of 2015. See Note 1 for further information.

Included in Other income (expense) in the second, the third and the fourth quarters are a $0.5 million benefit, a $0.8 million expense and a $0.3 million benefit related to fair value adjustments to the contingent consideration related to revised estimates of the performance against the targets for two of the Company’s acquisitions.

Included in the Provision for Income Taxes is a $0.3 million benefit in the first quarter, a $0.1 million benefit in the second quarter, a $0.2 million benefit in the third quarter and a $0.1 million benefit in the fourth quarter related to restructuring charges. Also included are a $0.3 million of benefit in the first quarter, $0.2 million of expense in the second quarter and $1.2 million of expense in the fourth quarter related to changes in valuation allowances. Additionally, in the second quarter there was $1.5 million of expense related to the recording of an uncertain tax position. Finally, there was a $0.5 million benefit in the first quarter related to tax rate changes, a $1.3 million benefit in the third quarter and a $1.3 million benefit in the fourth quarter related to impairments and $1.3 million of expense in the fourth quarter related to various state NOL’s.

Included in the second quarter is a $1.75 million additional estimated tax liability that should have been recorded in prior periods related to ongoing discussions with relevant government authorities related to site compliance with tax advantaged status. See Note 1 for further information.

The following tables present certain quarterly financial data for the year ended December 31, 2014 (in thousands except per share amounts).


	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter

Revenue	$	302,221	$	295,490	$	305,900	$	338,170
Cost of services		213,787		212,315		220,244		240,146
Selling, general and administrative		50,367		47,802		49,847		50,537
Depreciation and amortization		13,170		14,089		13,893		15,386
Restructuring charges, net		540		617		593		1,600
Impairment losses		—		—		—		373
Income from operations		24,357		20,667		21,323		30,128
Other income (expense)		(178)		2,880		(856)		2,138
(Provision for) benefit from income taxes		(2,876)		(5,417)		(5,778)		(8,971)
Non-controlling interest		(1,085)		(1,268)		(1,442)		(1,329)
Net income attributable to TeleTech stockholders	$	20,218	$	16,862	$	13,247	$	21,966

Weighted average shares outstanding
Basic		50,045		49,351		49,093		48,714
Diluted		50,973		50,111		49,940		49,514

Net income per share attributable to TeleTech stockholders
Basic	$	0.40	$	0.34	$	0.27	$	0.45
Diluted	$	0.40	$	0.34	$	0.27	$	0.44

Included in Other income (expense) in the second and the fourth quarters are a $4.0 million benefit and a net $2.7 million benefit related to fair value adjustments to the contingent consideration related to revised estimates of the performance against the targets for four of the Company’s acquisitions.

Included in the Provision for Income Taxes is a $0.2 million benefit in the first quarter, a $0.2 million benefit in the second quarter, a $0.2 million benefit in the third quarter and a $0.6 million benefit in the fourth quarter related to restructuring charges. Also included are a $0.6 million of benefit in the first quarter and $0.2 million of expense in the third quarter related to changes in valuation allowances. Additionally, in the second quarter there was $1.6 million of expense, $0.7 million of expense in the third quarter and $1.6 million of expense in the fourth quarter related to changes in the value of future contingent payments. Finally, there was $1.2 million of benefit in the first quarter related to the closing of a statute of limitations and $1.3 million of expense in the third quarter related to the Netherlands audit.