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Note 15 - Supplemental Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2015
Notes to Financial Statements  
Quarterly Financial Information [Text Block]
Note 15 — Supplemental Selected Quarterly Financial Data (Unaudited)
 
 
 
Quarter Ended
 
(In thousands, except per share amounts)
 
First
Quarter
 
 
Second
Quarter
 
 
Third
Quarter
 
 
Fourt
h
Quarter
 
                                 
Fiscal Year 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
   $ 208,464     $ 163,644     $ 154,170     $ 150,587  
Operating income (loss)
     6,128       (1,682 )     (9,263 )     (94,282 )
Income (loss) from continuing operations
     993       (4,254 )     (4,471 )     (83,096 )
Net income (loss)
     993       (4,254 )     (4,471 )     (83,096 )
                                 
Income (loss) per common share -basic:
                                
Income (loss) from continuing operations
     0.01       (0.05 )     (0.05 )     (1.00 )
Net income (loss)
     0.01       (0.05 )     (0.05 )     (1.00 )
                                 
Income (loss) per common share -diluted:
                                
Income (loss) from continuing operations
     0.01       (0.05 )     (0.05 )     (1.00 )
Net income (loss)
     0.01       (0.05 )     (0.05 )     (1.00 )
                                 
                                 
Fiscal Year 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
   $ 242,824     $ 272,466     $ 296,964     $ 306,162  
Operating income
    20,757       31,816       39,432       38,591  
Income from continuing operations
     11,742       20,329       23,492       23,446  
Net income
    35,011       20,329       23,492       23,446  
                                 
Income per common share -basic:
                                
Income from continuing operations
     0.14       0.24       0.29       0.29  
Net income
     0.41       0.24       0.29       0.29  
                                 
Income per common share -diluted:
                                
Income from continuing operations
     0.13       0.21       0.25       0.25  
Net income
     0.36       0.21       0.25       0.25  
 
During the fourth quarter of 2015, a total of $80.5 million of charges were included in operating loss for the reduction in value of certain assets and the pending resolution of certain wage and hour litigation claims. The Fluids Systems segment operating results include $75.5 million of these charges including a $70.7 million non-cash impairment of goodwill, a $2.6 million non-cash impairment of assets, following our decision to exit a facility, and a $2.2 million charge to reduce the carrying value of diesel-based drilling fluid inventory. In addition, corporate office expenses include a $5.0 million charge for the pending resolution of certain wage and hour litigation claims and related costs. In our 2015 consolidated statement of operations, a total of $78.3 million of these charges are reported in impairments and other charges with the $2.2 million charge for the write-down of inventory being reported in cost of revenues.