SELECTED QUARTERLY FINANCIAL DATA

12 Months Ended

Dec. 31, 2016

SELECTED QUARTERLY FINANCIAL DATA

17. Selected Quarterly Financial Data (Unaudited)

Selected financial data by calendar quarter were as follows:

	First Quarter		Second Quarter		Third Quarter			Fourth Quarter			Full Year
	(In thousands, except per share data)
2016
Net revenues	$	241,390	$	246,018	$	241,255		$	237,887		$	966,550
Cost of revenues		151,666		155,033		146,672			142,354			595,725
Gross profit		89,724		90,985		94,583			95,533			370,825
Selling, general and administrative expenses		29,677		18,265		29,526			31,060			108,528
Income from operations		60,047		72,720		65,057			64,473			262,297
Other income (expense), net		4,096		4,875		4,227			(2,110	)		11,088
Income before income taxes		64,143		77,595		69,284			62,363			273,385
Income tax expense (1)		11,086		18,804		286,513			14,372			330,775
Net income/(loss)	$	53,057	$	58,791	$	(217,229	)	$	47,991		$	(57,390	)
Earnings/(loss) per share, diluted (a)	$	0.63	$	0.70	$	(2.58	)	$	0.57		$	(0.68	)
Weighted average shares outstanding, diluted		84,266		84,278		84,214			84,163			84,146
2015
Net revenues	$	220,599	$	239,797	$	253,636		$	254,580		$	968,612
Cost of revenues		141,785		148,704		146,061			148,061			584,611
Gross profit		78,814		91,093		107,575			106,519			384,001
Selling, general and administrative expenses		35,382		21,728		15,121			28,025			100,256
Income from operations		43,432		69,365		92,454			78,494			283,745
Other income (expense), net		9,338		9,887		10,227			14,004			43,456
Income before income taxes		52,770		79,252		102,681			92,498			327,201
Income tax expense (2)		12,749		18,673		24,990			18,263			74,675
Net income	$	40,021	$	60,579	$	77,691		$	74,235		$	252,526
Earnings per share, diluted (a)	$	0.48	$	0.72	$	0.92		$	0.88		$	3.00
Weighted average shares outstanding, diluted		84,127		84,135		84,131			84,204			84,149

(a) Earnings per share for the quarter are computed independently and may not equal the earnings per share computed for the total year.