SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2017

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

Schedule of selected quarterly financial data (unaudited)

The following table presents selected quarterly financial information for 2017 and 2016 (in thousands, except per share amounts):

	2017
	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter			Total
Net revenues	$	53,414	$	58,229	$	63,027	$	56,056		$	230,726
Operating expenses		45,688		46,676		49,777		47,919			190,060
Income from operations		7,726		11,553		13,250		8,137			40,666
Net income		4,872		7,239		9,030		4,397	(F1)		25,538
Income per share of common stock
Basic	$	0.28	$	0.41	$	0.51	$	0.25	(F1)	$	1.45
Diluted	$	0.27	$	0.40	$	0.49	$	0.23	(F1)	$	1.39

	2016
	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Total
Net revenues	$	49,749	$	54,578	$	57,109	$	55,596	$	217,032
Operating expenses		42,590		45,633		44,857		45,404		178,484
Income from operations		7,159		8,945		12,252		10,192		38,548
Net income		4,575		5,695		7,834		6,470		24,574
Income per share of common stock
Basic	$	0.27	$	0.33	$	0.45	$	0.37	$	1.42
Diluted	$	0.26	$	0.32	$	0.45	$	0.36	$	1.39
(F1) The enactment of the Tax Cuts and Jobs Act in 2017 resulted in a non-cash Deferred tax asset revaluation, which had a $1.5 million negative effect on Net income and $0.08 negative effect on the Basic and Diluted EPS.