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SELECTED QUARTERLY FINANCIAL DATA (Tables)
 12 Months Ended
Dec. 31, 2018
Selected Quarterly Financial Data
WATSCO, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA
(UNAUDITED)
 
(In thousands, except per share data)
 
1st
Quarter
 
 
2nd
Quarter
 
 
3rd
Quarter
 
 
4th
Quarter
 
 
Total
 
Year Ended December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues (1)
 
$
926,577
 
 
$
1,332,743
 
 
$
1,296,007
 
 
$
991,326
 
 
$
4,546,653
 
Gross profit
 
$
230,833
 
 
$
320,766
 
 
$
319,009
 
 
$
249,644
 
 
$
1,120,252
 
Net income attributable to Watsco, Inc.
 
$
34,219
 
 
$
89,957
 
 
$
79,163
 
 
$
39,593
 
 
$
242,932
 
Earnings per share for Common and Class B common stock (2):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
$
0.89
 
 
$
2.41
 
 
$
2.12
 
 
$
1.02
 
 
$
6.50
 
Diluted
 
$
0.89
 
 
$
2.40
 
 
$
2.11
 
 
$
1.02
 
 
$
6.49
 
Year Ended December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues (1)
 
$
872,095
 
 
$
1,275,924
 
 
$
1,229,591
 
 
$
964,345
 
 
$
4,341,955
 
Gross profit
 
$
218,556
 
 
$
310,278
 
 
$
295,895
 
 
$
240,930
 
 
$
1,065,659
 
Net income attributable to Watsco, Inc.
 
$
26,181
 
 
$
73,756
 
 
$
65,029
 
 
$
43,255
 
 
$
208,221
 
Earnings per share for Common and Class B common stock (2):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
$
0.71
 
 
$
2.07
 
 
$
1.82
 
 
$
1.19
 
 
$
5.81
 
Diluted
 
$
0.71
 
 
$
2.07
 
 
$
1.82
 
 
$
1.19
 
 
$
5.81
 
 
(1)
Sales of residential central air conditioners, heating equipment and parts and supplies are seasonal. Demand related to the residential central air conditioning replacement market is typically highest in the second and third quarters, and demand for heating equipment is usually highest in the fourth quarter. Demand related to the new construction sectors throughout most of the markets is fairly evenly distributed throughout the year except for dependence on housing completions and related weather and economic conditions.
(2)
Quarterly and year-to-date earnings per share are calculated on an individual basis; therefore, the sum of earnings per share amounts for the quarters may not equal earnings per share amounts for the year.