Summary of Quarterly Results of Operations |
Summarized quarterly financial results for 2015 and 2014 follows: | | | | | | | | | | | | | | | | | | First Quarter (a) | | Second Quarter (a) | | Third Quarter (a) | | Fourth Quarter (a) | | (In thousands, except per share amounts) | 2015 | | | | | | | | Total revenues | $ | 47,805 |
| | $ | 57,430 |
| | $ | 43,168 |
| | $ | 114,018 |
| Gross profit (loss) | 17,289 |
| | (35,009 | ) | | (69,572 | ) | | 8,341 |
| Operating income (loss) | (7,737 | ) | | (52,714 | ) | | (94,751 | ) | | (9,482 | ) | Equity in earnings of unconsolidated ventures | 3,045 |
| | 5,584 |
| | 2,909 |
| | 4,470 |
| Income (loss) before taxes | (12,596 | ) | | (55,062 | ) | | (100,095 | ) | | (11,983 | ) | Net income (loss) attributable to Forestar Group Inc. | (8,158 | ) | | (34,507 | ) | | (164,216 | ) | | (6,166 | ) | | | | | | | | | Net income (loss) per share — basic | $ | (0.24 | ) | | $ | (1.01 | ) | | $ | (4.79 | ) | | $ | (0.18 | ) | Net income (loss) per share — diluted | $ | (0.24 | ) | | $ | (1.01 | ) | | $ | (4.79 | ) | | $ | (0.18 | ) | | | | | | | | | 2014 | | | | | | | | Total revenues | $ | 84,605 |
| | $ | 83,013 |
| | $ | 58,840 |
| | $ | 80,316 |
| Gross profit (loss) | 35,025 |
| | 33,261 |
| | 19,606 |
| | (6,259 | ) | Operating income (loss) | 15,883 |
| | 26,942 |
| | 12,716 |
| | (16,783 | ) | Equity in earnings of unconsolidated ventures | 991 |
| | 958 |
| | 2,016 |
| | 4,720 |
| Income (loss) before taxes | 13,665 |
| | 22,799 |
| | 7,994 |
| | (18,713 | ) | Net income (loss) attributable to Forestar Group Inc. | 8,334 |
| | 14,822 |
| | 5,227 |
| | (11,800 | ) | | | | | | | | | Net income (loss) per share — basic | $ | 0.20 |
| | $ | 0.34 |
| | $ | 0.12 |
| | $ | (0.34 | ) | Net income (loss) per share — diluted | $ | 0.19 |
| | $ | 0.34 |
| | $ | 0.12 |
| | $ | (0.34 | ) |
_____________________ (a)Non-cash impairment charges for unproved leasehold interests and proved oil and gas properties included in our quarterly financial results are as follows: | | | | | | | | | | | | | | | | | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | (In thousands) | 2015 | $ | 7 |
| | $ | 45,938 |
| | $ | 81,240 |
| | $ | 37,646 |
| 2014 | 755 |
| | 584 |
| | 735 |
| | 30,591 |
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