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Quarterly Financial Data
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data
Note 13- Quarterly Financial Data (Unaudited)
 
The Company’s operating results vary from period to period as a result of weather conditions, requirements of potential customers, non-recurring refrigerant and service sales, availability and price of refrigerant products (virgin or reclaimable), changes in reclamation technology and regulations, timing in introduction and/or retrofit or replacement of refrigeration equipment, the rate of expansion of the Company's operations, and by other factors.
 
(in thousands, except share

and per share data)
 
For the Year Ended 2018
 
 
 
 
 
 
Q1
 
 
Q2
 
 
Q3
 
 
Q4 (b)
 
 
Total (a)
 
Revenues
 
$
42,428
 
 
$
57,831
 
 
$
40,545
 
 
$
25,721
 
 
$
166,525
 
Gross profit (loss)
 
$
7,905
 
 
$
(26,082
)
 
$
7,729
 
 
$
3,083
 
 
$
(7,365
)
Operating expenses
 
$
8,819
 
 
$
11,346
 
 
$
8,098
 
 
$
6,980
 
 
$
35,243
 
Operating income (loss)
 
$
(914
)
 
$
(37,428
)
 
$
(369
)
 
$
(3,897
)
 
$
(42,608
)
Other expense
 
$
(3,206
)
 
$
(3,346
)
 
$
(4,064
)
 
$
(4,139
)
 
$
(14,755
)
Income (loss) before income taxes
 
$
(4,120
)
 
$
(40,774
)
 
$
(4,433
)
 
$
(8,036
)
 
$
(57,363
)
Income tax expense (benefit)
 
$
(1,064
)
 
$
(10,158
)
 
$
9,447
 
 
$
71
 
 
$
(1,704
)
Net loss
 
$
(3,056
)
 
$
(30,616
)
 
$
(13,880
)
 
$
(8,107
)
 
$
(55,659
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss per common share – Basic (a)
 
$
(0.07
)
 
$
(0.72
)
 
$
(0.33
)
 
$
(0.19
)
 
$
(1.31
)
Net loss per common share – Diluted (a)
 
$
(0.07
)
 
$
(0.72
)
 
$
(0.33
)
 
$
(0.19
)
 
$
(1.31
)
Weighted average number of shares outstanding – Basic
 
 
42,403,029
 
 
 
42,403,140
 
 
 
42,530,476
 
 
 
42,600,898
 
 
 
42,484,972
 
Weighted average number of shares outstanding – Diluted
 
 
42,403,029
 
 
 
42,403,140
 
 
 
42,530,476
 
 
 
42,600,898
 
 
 
42,484,972
 
 
 
 
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.