Note 19 - Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Quarterly Financial Information [Text Block]

1

9

. Quarterly Financial Data (Unaudited)

The following is a summary of the quarterly results of operations for

2018

and

2017:

201 8 Quarters ( In thousands, except per share amounts)	First		Second		Third		Fourth
Operating revenue	$	186,960	$	197,024	$	199,649	$	203,961
Operating income		13,594		18,223		18,993		19,538
Net income		10,331		13,702		15,257		15,737
Basic earnings per common share		0.19		0.25		0.28		0.29
Diluted earnings per common share		0.19		0.25		0.28		0.29

201 7 Quarters (In thousands, except per share amounts)	First		Second		Third		Fourth
Operating revenue	$	173,159	$	171,511	$	170,679	$	182,771
Operating income		13,938		15,569		13,022		14,333
Net income		8,214		9,141		7,855		65,074
Net income – excluding deferred income taxes benefit (1)		8,214		9,141		7,855		8,609
Basic earnings per common share		0.15		0.17		0.14		1.19
Basic earnings per common share – excluding deferred income taxes benefit (1)		0.15		0.17		0.14		0.16
Diluted earnings per common share		0.15		0.17		0.14		1.18
Diluted earnings per common share – excluding deferred income taxes benefit (1)		0.15		0.17		0.14		0.16

( 1 ) The amounts are presented for comparative purposes excluding the $56.5 million deferred income taxes benefit recorded to recognize the impact on our federal net deferred tax liability of the reduction of the federal corporate statutory income tax rate from 35% to 21% related to the Tax Cuts and Jobs Act of 2017.

The sum of the diluted earnings per common share for the

2018

quarters exceeds the amount for the year, and the sum of the basic and diluted earnings per common share for the

2017

quarters is less than the amounts for the year due to differences in rounding.