Quarterly Financial Information |
Quarterly Financial Information (Unaudited) The following financial information reflects all normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results of the interim periods. Summarized quarterly data for fiscal 2015 and 2014 are as follows (in thousands, except per share data): | | | | | | | | | | | | | | | | | | | | 1st Quarter | | 2nd Quarter | | 3rd Quarter | | 4th Quarter | Fiscal 2015 (1) | | | | | | | | | Revenues | | $ | 13,839 |
| | $ | 15,547 |
| | $ | 15,862 |
| | $ | 15,578 |
| Gross profit | | $ | 3,648 |
| | $ | 4,767 |
| | $ | 4,802 |
| | $ | 4,692 |
| Income from operations | | $ | 165 |
| | $ | 1,163 |
| | $ | 948 |
| | $ | 498 |
| Net income (3) | | $ | 745 |
| | $ | 1,097 |
| | $ | 19,120 |
| | $ | 678 |
| Net income per common share—basic (5) | | $ | 0.04 |
| | $ | 0.06 |
| | $ | 0.99 |
| | $ | 0.03 |
| Net income per common share—diluted (5) | | $ | 0.04 |
| | $ | 0.06 |
| | $ | 0.97 |
| | $ | 0.03 |
| | | | | | | | | | Fiscal 2014 (2) | | | | | | | | | Revenues | | $ | 12,997 |
| | $ | 14,587 |
| | $ | 13,881 |
| | $ | 14,143 |
| Gross profit | | $ | 3,442 |
| | $ | 4,505 |
| | $ | 4,409 |
| | $ | 4,284 |
| Income (loss) from operations (4) | | $ | (155 | ) | | $ | 825 |
| | $ | 1,032 |
| | $ | 816 |
| Net income (loss) | | $ | (148 | ) | | $ | 823 |
| | $ | 1,028 |
| | $ | 772 |
| Net income (loss) per common share—basic (5) | | $ | (0.01 | ) | | $ | 0.04 |
| | $ | 0.06 |
| | $ | 0.04 |
| Net income (loss) per common share—diluted (5) | | $ | (0.01 | ) | | $ | 0.04 |
| | $ | 0.05 |
| | $ | 0.04 |
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| | (1) | On March 5, 2015, we acquired MD Office Solutions (MD Office). The results of MD Office are included in Diagnostic Services since the acquisition date (See Note 3). |
| | (2) | On March 13, 2014, we acquired 100% of the membership interest of Telerhythmics, LLC. The results of Telerhythmics are included in Diagnostic Services since the acquisition date (See Note 3). |
| | (3) | Included in net income for the third quarter of 2015 is an income tax benefit of $18.2 million primarily related to the release of the valuation allowance associated with a portion of our deferred tax assets. |
| | (4) | Included in the income (loss) from operations for the first, second, third, and fourth quarter of 2014, are approximately $0.4 million, $0.1 million, $0.1 million, and less than $0.1 million of charges, respectively, associated with our Diagnostic Imaging and Facilities restructuring initiatives (See Note 11). |
| | (5) | Earnings per share are computed independently for each of the quarters presented. Therefore, the sum of the quarterly net earnings per share will not necessarily equal the total for the year. |
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