The following table sets forth selected unaudited quarterly financial information for the years ended December 31, 2015 and 2014. This information has been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, contains all adjustments necessary for a fair statement thereof. Net income (loss) per share calculations are based on the weighted average common shares outstanding for each period presented. Accordingly, the sum of the quarterly net income (loss) per share amounts may not equal the per share amount reported for the year.



QUARTERLY FINANCIAL DATA
(unaudited - dollars in thousands, except per share data)
2015 Quarters Ended	December 31,			September 30,			June 30,			March 31,
Revenue	$	630,162		$	751,376		$	569,242		$	420,249
Gross profit¹	102,008			96,253			65,045			40,052
As a percent of revenue	16.2		%	12.8		%	11.4		%	9.5		%
Net income (loss)³	$	35,139		$	32,180		$	9,539		$	(8,610	)
As a percent of revenue	5.6		%	4.3		%	1.7		%	(2.0		)%
Net income (loss) attributable to Granite	$	28,673		$	30,759		$	9,613		$	(8,560	)
As a percent of revenue	4.6		%	4.1		%	1.7		%	(2.0		)%
Net income (loss) per share attributable to common shareholders:
Basic	$	0.73		$	0.78		$	0.24		$	(0.22	)
Diluted	$	0.72		$	0.77		$	0.24		$	(0.22	)



2014 Quarters Ended	December 31,			September 30,			June 30,			March 31,
Revenue	$	589,789		$	719,764		$	585,870		$	379,847
Gross profit²	73,726			66,292			80,729			21,499
As a percent of revenue	12.5		%	9.3		%	14.1		%	5.6		%
Net income (loss)³	$	20,825		$	14,105		$	22,207		$	(21,261	)
As a percent of revenue	3.5		%	2.0		%	3.8		%	(5.6		)%
Net income (loss) attributable to Granite	$	16,976		$	15,282		$	13,641		$	(20,553	)
As a percent of revenue	2.9		%	2.1		%	2.3		%	(5.4		)%
Net income (loss) per share attributable to common shareholders:
Basic	$	0.43		$	0.39		$	0.35		$	(0.53	)
Diluted	$	0.43		$	0.38		$	0.34		$	(0.53	)

¹Gross profit is approximately $4.6 million, $0.8 million and $0.1 million lower than the amounts previously reported in our Quarterly Reports on Form 10-Q for the quarterly periods ended September 30, June 30 and March 31 2015 of $100.9 million, $65.8 million and $40.1 million, respectively, due to net reclassifications from selling, general and administration expenses to cost of revenue primarily related to (i) incentive compensation and (ii) sales personnel payroll and related expenses. See Note 1 of “Notes to the Consolidated Financial Statements” and “Gross Profit” and “Selling, General and Administrative Expenses” under “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” for additional information.

²Gross profit is approximately $6.1 million lower than the amount previously reported in our Annual Report on Form 10-K for the quarterly period ended December 31, 2014 of $79.8 million due to the reclassifications referred to 1 above. Gross profit is approximately $0.4 million and $1.7 million lower, and is approximately $0.1 million higher than the amounts previously reported in our Quarterly Reports on Form 10-Q for the quarterly periods ended September 30, June 30 and March 31 2014 of $66.7 million, $82.4 million and $21.4 million, respectively, due to the reclassifications referred to 1 above.

³During the fourth quarter of 2015, we recorded $1.0 million of restructuring gains resulting from the sale of previously impaired non-performing quarry sites and a restructuring gain of $5.0 million, which includes the amounts attributable to non-controlling interests of $3.3 million, associated with the sale of a previously impaired consolidated real estate investment. In the fourth quarter of 2014, we were released from the lease obligation related to the lease termination in 2013 and recorded a $1.3 million restructuring gain. Also, in the fourth quarter of 2014, we sold an asset which we had previously impaired resulting in a $1.3 million impairment gain.