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Quarterly Financial Information
 12 Months Ended
Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information

Note 16 — Quarterly Financial Information (Unaudited)

 

Offshore marine construction activities may fluctuate as a result of weather conditions and the timing of capital expenditures by oil and gas companies.  Historically, a substantial portion of our services has been performed during the summer and fall months.  As a result, historically a disproportionate portion of our revenues and net income is earned during such period.  The following is a summary of consolidated quarterly financial information for 2014 and 2013 (in thousands, except per share amounts):

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

 

 

 

March 31,

 

June 30,

 

September 30,

 

December 31,

 

2014

 

 

 

 

 

 

 

 

 

Net revenues

$
253,572 

$
305,587 

$
340,837 

$
207,160 

 

Gross profit

$
75,846 

$
109,138 

$
126,247 

$
32,805 

 

Net income applicable to Helix

$
53,719 

$
57,782 

$
75,586 

$
7,960 

 

Basic earnings per common share

$
0.51 

$
0.55 

$
0.72 

$
0.08 

 

Diluted earnings per common share

$
0.51 

$
0.55 

$
0.71 

$
0.08 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

 

 

 

March 31,

 

June 30,

 

September 30,

 

December 31,

 

2013

 

 

 

 

 

 

 

 

 

Net revenues (1)

$
197,429 

$
232,178 

$
220,117 

$
226,837 

 

Gross profit (2)

 
52,567 

 
67,497 

 
69,457 

 
71,164 

 

Net income applicable to Helix:

 

 

 

 

 

 

 

 

 

Income from continuing operations

$
557 

$
27,240 

$
44,549 

$
36,503 

 

Income (loss) from discontinued operations

 
1,058 

 
(29)

 
44 

 

 -

 

Net income applicable to Helix

$
1,615 

$
27,211 

$
44,593 

$
36,503 

 

Basic earnings per common share:

 

 

 

 

 

 

 

 

 

Income from continuing operations

$
0.01 

$
0.26 

$
0.42 

$
0.35 

 

Income from discontinued operations

 
0.01 

 

 -

 

 -

 

 -

 

Basic earnings per common share

$
0.02 

$
0.26 

$
0.42 

$
0.35 

 

Diluted earnings per common share:

 

 

 

 

 

 

 

 

 

Income from continuing operations

$
0.01 

$
0.26 

$
0.42 

$
0.35 

 

Income from discontinued operations

 
0.01 

 

 -

 

 -

 

 -

 

Diluted earnings per common share

$
0.02 

$
0.26 

$
0.42 

$
0.35 

 

 

(1) Excludes revenues from discontinued operations of $48.8 million for the quarter ended March 31, 2013.

 

(2) Excludes gross profit from discontinued operations of $28.2 million for the quarter ended March 31, 2013.