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Quarterly Financial Data (Tables)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information
(in thousands, except share and per share data)
 
For the Year Ended 2017
 
 
 
 
 
 
Q1
 
Q2
 
Q3
 
Q4 (b)
 
Total (a)
 
Revenues
 
$
38,830
 
$
52,231
 
$
24,706
 
$
24,613
 
$
140,380
 
Gross profit
 
$
12,467
 
$
17,420
 
$
5,070
 
$
3,027
 
$
37,984
 
Operating expenses
 
$
3,074
 
$
3,520
 
$
3,594
 
$
12,664
 
$
22,852
 
Operating income (loss)
 
$
9,393
 
$
13,900
 
$
1,476
 
$
(9,637)
 
$
15,132
 
Other (expense)
 
$
(85)
 
$
(61)
 
$
(24)
 
$
(2,958)
 
$
(3,128)
 
Income (loss) before income taxes
 
$
9,308
 
$
13,839
 
$
1,452
 
$
(12,595)
 
$
12,004
 
Income tax expense (benefit)
 
$
3,574
 
$
5,314
 
$
(652)
 
$
(7,389)
 
$
847
 
Net income (loss)
 
$
5,734
 
$
8,525
 
$
2,104
 
$
(5,206)
 
$
11,157
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) per common share – Basic (a)
 
$
0.14
 
$
0.21
 
$
0.05
 
$
(0.12)
 
$
0.27
 
Net income (loss) per common share – Diluted (a)
 
$
0.13
 
$
0.20
 
$
0.05
 
$
(0.12)
 
$
0.26
 
Weighted average number of shares outstanding – Basic
 
 
41,507,941
 
 
41,567,848
 
 
41,869,528
 
 
42,216,987
 
 
41,764,230
 
Weighted average number of shares outstanding – Diluted
 
 
43,503,889
 
 
43,550,226
 
 
43,463,982
 
 
42,216,987
 
 
42,766,843
 
 
 
(a)
The sum of the net earnings per share may not add up to the full year amount due to rounding and because the quarterly calculations are based on varying numbers of shares outstanding.
(b)
As discussed previously, the fourth quarter 2017 results include the results of ARI subsequent to the acquisition on October 10, 2017.
 
 
 
 
For the Year Ended 2016
 
 
 
 
 
 
Q1
 
Q2
 
Q3
 
Q4
 
Total (a)
 
Revenues
 
$
28,167
 
$
34,605
 
$
34,930
 
$
7,779
 
$
105,481
 
Gross profit
 
$
7,522
 
$
10,491
 
$
12,040
 
$
1,033
 
$
31,086
 
Operating expenses
 
$
2,503
 
$
2,347
 
$
4,022
 
$
3,267
 
$
12,139
 
Operating income (loss)
 
$
5,019
 
$
8,144
 
$
8,018
 
$
(2,234)
 
$
18,947
 
Other Income (expense)
 
$
(271)
 
$
(352)
 
$
(296)
 
$
(763)
 
$
(1,682)
 
Income (loss) before income taxes
 
$
4,748
 
$
7,792
 
$
7,722
 
$
(2,997)
 
$
17,265
 
Income tax expense (benefit)
 
$
1,804
 
$
2,962
 
$
2,933
 
$
(1,071)
 
$
6,628
 
Net income (loss)
 
$
2,944
 
$
4,830
 
$
4,789
 
$
(1,926)
 
$
10,637
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) per common share – Basic
 
$
0.09
 
$
0.15
 
$
0.14
 
$
(0.05)
 
$
0.31
 
Net income (loss) per common share – Diluted
 
$
0.09
 
$
0.14
 
$
0.14
 
$
(0.05)
 
$
0.30
 
Weighted average number of shares outstanding – Basic
 
 
32,888,659
 
 
33,128,518
 
 
33,873,479
 
 
36,527,250
 
 
34,104,476
 
Weighted average number of shares outstanding – Diluted
 
 
33,944,876
 
 
34,270,337
 
 
35,297,585
 
 
36,527,250
 
 
35,416,910
 
 
 
(a)
The sum of the net earnings per share may not add up to the full year amount due to rounding and because the quarterly calculations are based on varying numbers of shares outstanding.