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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Contract revenues $ 448,776 $ 339,676 $ 916,870 $ 685,287
Contract costs 405,613 301,046 830,831 610,904
Gross profit 43,163 38,630 86,039 74,383
Selling, general and administrative expenses 33,944 29,168 66,931 57,448
Amortization of intangible assets 735 119 1,469 236
Gain on sale of property and equipment (926) (1,014) (1,397) (2,065)
Income from operations 9,410 10,357 19,036 18,764
Other income (expense):        
Interest expense (1,168) (783) (2,373) (1,504)
Other income, net 582 25 1,328 274
Income before provision for income taxes 8,824 9,599 17,991 17,534
Income tax expense 2,466 2,764 5,013 5,055
Net income 6,358 6,835 12,978 12,479
Less: net loss attributable to noncontrolling interest (849) 0 (1,582) 0
Net income attributable to MYR Group Inc. $ 7,207 $ 6,835 $ 14,560 $ 12,479
Income per common share attributable to MYR Group Inc.:        
- Basic (in dollars per share) $ 0.43 $ 0.42 $ 0.88 $ 0.76
- Diluted (in dollars per share) $ 0.43 $ 0.41 $ 0.87 $ 0.75
Weighted average number of common shares and potential common shares outstanding:        
- Basic (in shares) 16,600 16,455 16,557 16,388
- Diluted (in shares) 16,704 16,592 16,682 16,555
Net income $ 6,358 $ 6,835 $ 12,978 $ 12,479
Other comprehensive income (loss):        
Foreign currency translation adjustment (123) 16 (200) (1)
Other comprehensive income (loss) (123) 16 (200) (1)
Total comprehensive income 6,235 6,851 12,778 12,478
Less: net loss attributable to noncontrolling interest (849) 0 (1,582) 0
Total comprehensive income attributable to MYR Group Inc. $ 7,084 $ 6,851 $ 14,360 $ 12,478