Quarterly Financial Data

The following table sets forth selected unaudited quarterly financial information for the years ended December 31, 2017 and 2016. 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)
2017 Quarters Ended	December 31,			September 30,			June 30,			March 31,
Revenue	$	801,274		$	957,126		$	762,913		$	468,400
Gross profit	100,707			114,530			74,570			25,126
As a percent of revenue	12.6		%	12.0		%	9.8		%	5.4		%
Net income (loss)	$	35,325		$	48,055		$	16,272		$	(23,851	)
As a percent of revenue	4.4		%	5.0		%	2.1		%	(5.1		)%
Net income (loss) attributable to Granite	$	32,773		$	45,982		$	14,133		$	(23,790	)
As a percent of revenue	4.1		%	4.8		%	1.9		%	(5.1		)%
Net income (loss) per share attributable to common shareholders:
Basic	$	0.82		$	1.15		$	0.35		$	(0.60	)
Diluted	$	0.81		$	1.14		$	0.35		$	(0.60	)



2016 Quarters Ended	December 31,			September 30,			June 30,			March 31,
Revenue	$	666,681		$	803,905		$	604,579		$	439,452
Gross profit	81,250			107,674			73,201			39,245
As a percent of revenue	12.2		%	13.4		%	12.1		%	8.9		%
Net income (loss)	$	19,264		$	38,172		$	18,526		$	(9,762	)
As a percent of revenue	2.9		%	4.7		%	3.1		%	(2.2		)%
Net income (loss) attributable to Granite	$	16,173		$	37,190		$	14,199		$	(10,440	)
As a percent of revenue	2.4		%	4.6		%	2.3		%	(2.4		)%
Net income (loss) per share attributable to common shareholders:
Basic	$	0.41		$	0.94		$	0.36		$	(0.27	)
Diluted	$	0.40		$	0.92		$	0.35		$	(0.27	)