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Quarterly Financial Data
12 Months Ended
Dec. 31, 2020
Quarterly Financial Data [Abstract]  
Quarterly Financial Data

Note 19.  Quarterly Financial Data (Unaudited)



The table below sets forth unaudited financial information for each quarter of the last two years (in thousands, except per share amounts):







 

 

 

 

 

 

 

 

 

 

 

 



 

First

 

Second

 

Third

 

Fourth



 

Quarter

 

Quarter

 

Quarter

 

Quarter

2020

 

 

 

 

 

 

 

 

Revenue

 

$

54,550 

 

$

8,732 

 

$

16,312 

 

$

27,383 

Cost of sales

 

 

30,614 

 

 

6,393 

 

 

10,208 

 

 

15,692 

Gross profit (1)

 

 

22,937 

 

 

1,695 

 

 

5,595 

 

 

11,121 

Impairments

 

 

50,194 

 

 

 —

 

 

 —

 

 

 —

Loss from operations

 

 

(49,678)

 

 

(14,232)

 

 

(7,473)

 

 

(57)

Gain on patent infringement settlement

 

 

 —

 

 

 —

 

 

 —

 

 

25,678 

Net (loss) income

 

 

(48,907)

 

 

(8,892)

 

 

(5,137)

 

 

23,830 

Net (loss) income attributable to NCS Multistage Holdings, Inc.

 

 

(51,549)

 

 

(8,757)

 

 

(5,863)

 

 

8,570 

(Loss) earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

   Basic (2)

 

$

(21.92)

 

$

(3.70)

 

$

(2.48)

 

$

3.62 

   Diluted (2)

 

$

(21.92)

 

$

(3.70)

 

$

(2.48)

 

$

3.59 



 

 

 

 

 

 

 

 

 

 

 

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

52,850 

 

$

39,768 

 

$

60,773 

 

$

52,094 

Cost of sales

 

 

26,763 

 

 

23,081 

 

 

32,209 

 

 

25,977 

Gross profit (1)

 

 

25,139 

 

 

15,671 

 

 

27,562 

 

 

25,106 

Impairments

 

 

 —

 

 

7,919 

 

 

 —

 

 

 —

Income (loss) from operations

 

 

437 

 

 

(16,757)

 

 

5,509 

 

 

1,320 

Net (loss) income

 

 

(9,878)

 

 

(19,568)

 

 

6,609 

 

 

19 

Net (loss) income attributable to NCS Multistage Holdings, Inc.

 

 

(11,966)

 

 

(22,301)

 

 

3,621 

 

 

(2,177)

(Loss) earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

   Basic (2)

 

$

(5.20)

 

$

(9.54)

 

$

1.54 

 

$

(0.93)

   Diluted (2)

 

$

(5.20)

 

$

(9.54)

 

$

1.54 

 

$

(0.93)

___________________________________________

(1)

Gross profit is defined as total revenue less cost of sales less depreciation and amortization attributed to cost of sales.

(2)

The sum of the individual quarterly earnings per share amounts may not agree with the annual amount reported as each quarterly computation is based on the weighted average number of common shares outstanding during the period. Amounts for the first three quarters of 2020 and all quarters in 2019 have been retrospectively adjusted for the 1-for-20 reverse stock split that was effective on December 1, 2020.