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):
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First
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Second
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Third
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Fourth
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Quarter
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Quarter
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Quarter
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Quarter
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2020
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Revenue
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$
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54,550
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$
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8,732
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$
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16,312
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$
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27,383
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Cost of sales
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30,614
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6,393
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10,208
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15,692
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Gross profit (1)
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22,937
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1,695
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5,595
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11,121
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Impairments
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50,194
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—
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—
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—
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Loss from operations
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(49,678)
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(14,232)
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(7,473)
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(57)
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Gain on patent infringement settlement
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—
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—
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—
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25,678
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Net (loss) income
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(48,907)
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(8,892)
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(5,137)
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23,830
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Net (loss) income attributable to NCS Multistage Holdings, Inc.
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(51,549)
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(8,757)
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(5,863)
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8,570
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(Loss) earnings per common share
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Basic (2)
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$
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(21.92)
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$
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(3.70)
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$
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(2.48)
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$
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3.62
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Diluted (2)
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$
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(21.92)
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$
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(3.70)
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$
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(2.48)
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$
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3.59
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2019
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Revenue
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$
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52,850
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$
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39,768
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$
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60,773
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$
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52,094
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Cost of sales
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26,763
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23,081
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32,209
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25,977
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Gross profit (1)
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25,139
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15,671
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27,562
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25,106
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Impairments
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—
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7,919
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—
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—
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Income (loss) from operations
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437
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(16,757)
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5,509
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1,320
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Net (loss) income
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(9,878)
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(19,568)
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6,609
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19
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Net (loss) income attributable to NCS Multistage Holdings, Inc.
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(11,966)
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(22,301)
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3,621
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(2,177)
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(Loss) earnings per common share
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Basic (2)
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$
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(5.20)
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$
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(9.54)
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$
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1.54
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$
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(0.93)
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Diluted (2)
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$
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(5.20)
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$
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(9.54)
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$
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1.54
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$
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(0.93)
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___________________________________________
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(1)
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Gross profit is defined as total revenue less cost of sales less depreciation and amortization attributed to cost of sales. |
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(2)
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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. |
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