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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (Unaudited)
16.
Selected Quarterly Financial Data (Unaudited)

Quarterly Results

The following table sets forth selected unaudited quarterly results for the eight quarters commencing January 1, 2014 and ending December 31, 2015 (in thousands):

 
 
2015 Quarter Ended
 
2014 Quarter Ended
 
 
Dec. 31 (1)
 
Sept. 30 (2)
 
Jun. 30
 
Mar. 31
 
Dec. 31
 
Sept. 30 (3)
 
Jun. 30
 
Mar. 31
Revenue
 
$
533,720

 
$
551,717

 
$
548,785

 
$
449,453

 
$
479,927

 
$
499,577

 
$
489,472

 
$
449,507

Gross profit
 
$
117,696

 
$
137,666

 
$
140,847

 
$
113,862

 
$
99,018

 
$
123,757

 
$
120,415

 
$
101,451

Operating income
 
$
66,381

 
$
97,079

 
$
97,181

 
$
69,129

 
$
52,654

 
$
53,476

 
$
79,906

 
$
61,232

Net income
 
$
64,154

 
$
56,468

 
$
55,923

 
$
39,553

 
$
29,909

 
$
28,951

 
$
46,908

 
$
34,915

Net income attributable to VCA Inc.
 
$
63,595

 
$
54,854

 
$
54,299

 
$
38,301

 
$
28,359

 
$
27,452

 
$
45,584

 
$
34,043

Basic earnings per common share
 
$
0.79

 
$
0.68

 
$
0.66

 
$
0.47

 
$
0.34

 
$
0.32

 
$
0.52

 
$
0.39

Diluted earnings per common share
 
$
0.78

 
$
0.67

 
$
0.65

 
$
0.46

 
$
0.33

 
$
0.31

 
$
0.51

 
$
0.38


____________________________ 
(1) 
Included in the 2015 fourth quarter is a gain of $43.3 million, $26.4 million net of tax, or $0.32 per diluted common share related to the sale of our Vetstreet business.

(2) 
Included in the 2015 third quarter is business interruption proceeds of $4.5 million, $2.8 million net of tax, or $0.03 per diluted common share.

(3) 
Included in the 2014 third quarter is a non-cash impairment charge of $27.0 million, or $0.20 per diluted share. The charge is primarily related to our Vetstreet reporting unit, see Note 5, Goodwill.

Additionally, the 2014 third quarter net income includes $1.7 million, or $0.01 per diluted share related to costs incurred in conjunction with the new senior credit facility we entered into during that period.



16.
Selected Quarterly Financial Data (Unaudited), continued

Although not readily detectable because of the impact of acquisitions, our operations are subject to seasonal fluctuation. In particular, our Animal Hospital and Laboratory revenue historically has been greater in the second and third quarters than in the first and fourth quarters.

The demand for our veterinary services is significantly higher during warmer months because pets spend a greater amount of time outdoors, where they are more likely to be injured and are more susceptible to disease and parasites. In addition, use of veterinary services may be affected by levels of infestation of fleas, heartworms and ticks, and the number of daylight hours. A substantial portion of our costs for our veterinary services are fixed and do not vary with the level of demand. Consequently, our operating income and operating margins generally have been higher for the second and third quarters than that experienced in the first and fourth quarters.