QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

The following is a summary of certain items in the consolidated statements of operations by quarter:


Fiscal Year 2019	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Revenues	$	163,664	$	187,459	$	198,547	$	193,619
Operating income	$	4,442	$	15,544	$	18,485	$	14,604
Net (loss) income	$	(1,714)	$	11,915	$	12,386	$	9,066

Earnings per common share:
Basic weighted average common shares outstanding	45,913		47,464		47,690		47,811
Basic earnings per share	$	(0.04)	$	0.25	$	0.26	$	0.19
Diluted weighted average common shares outstanding	42,913		48,221		48,361		48,583
Diluted earnings per share	$	(0.04)	$	0.25	$	0.26	$	0.19


Fiscal Year 2018	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Revenues	$	147,455	$	165,649	$	172,832	$	174,724
Operating income (loss)	$	838	$	15,149	$	28,884	$	(5,138)
Net (loss) income	$	(3,910)	$	1,704	$	22,302	$	(13,676)

Earnings per common share:
Basic weighted average common shares outstanding	42,370		42,661		42,779		42,936
Basic earnings per share	$	(0.09)	$	0.04	$	0.52	$	(0.32)
Diluted weighted average common shares outstanding	42,370		43,916		44,175		42,936
Diluted earnings per share	$	(0.09)	$	0.04	$	0.50	$	(0.32)

Our transfer and disposal revenues historically have been lower from the months of November through March. This seasonality reflects the lower volume of waste during the late fall, winter and early spring months. Since certain of our operating and fixed costs remain constant throughout fiscal year, operating income is impacted by a similar seasonality. In addition, particularly harsh weather conditions typically result in increased operating costs.

Our recycling business experiences increased volumes of newspaper in November and December due to increased retail activity during the holiday season.