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Quarterly Financial Data (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Summary of Unaudited Quarterly Results of Operations

The following is a summary of the unaudited quarterly results of operations for the years ended December 31, 2018 and 2017 (in thousands, except per share amounts).

 

 

 

2018

 

 

 

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,

 

Revenue

 

$

266,090

 

 

$

232,641

 

 

$

224,249

 

 

$

199,023

 

Operating expenses

 

 

204,750

 

 

 

205,102

 

 

 

198,607

 

 

 

181,824

 

Gross margin

 

 

61,340

 

 

 

27,539

 

 

 

25,642

 

 

 

17,199

 

Corporate general and administrative expenses

 

 

10,028

 

 

 

9,993

 

 

 

10,279

 

 

 

8,873

 

Operating income

 

 

51,312

 

 

 

17,546

 

 

 

15,363

 

 

 

8,326

 

Other (expense) income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

(1,780

)

 

 

(1,817

)

 

 

(1,614

)

 

 

(1,434

)

Gain on sale of operations, net

 

 

663

 

 

 

 

 

 

 

 

 

362

 

Other (expense) income, net

 

 

(1,229

)

 

 

630

 

 

 

3,143

 

 

 

(9,631

)

Total other (expense) income, net

 

 

(2,346

)

 

 

(1,187

)

 

 

1,529

 

 

 

(10,703

)

Income (loss) from continuing operations before

   income tax expense

 

 

48,966

 

 

 

16,359

 

 

 

16,892

 

 

 

(2,377

)

Income tax expense (benefit)

 

 

13,156

 

 

 

3,238

 

 

 

3,297

 

 

 

(1,424

)

Income (loss) from continuing operations

 

 

35,810

 

 

 

13,121

 

 

 

13,595

 

 

 

(953

)

Gain (loss) from operations of discontinued operations,

   net of tax

 

 

41

 

 

 

(15

)

 

 

(9

)

 

 

(20

)

Net income (loss)

 

$

35,851

 

 

$

13,106

 

 

$

13,586

 

 

$

(973

)

Earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.66

 

 

$

0.24

 

 

$

0.25

 

 

$

(0.02

)

Discontinued operations

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

0.66

 

 

$

0.24

 

 

$

0.25

 

 

$

(0.02

)

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.64

 

 

$

0.23

 

 

$

0.24

 

 

$

(0.02

)

Discontinued operations

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

0.64

 

 

$

0.23

 

 

$

0.24

 

 

$

(0.02

)

Basic weighted average common shares

 

 

54,071

 

 

 

54,594

 

 

 

54,794

 

 

 

54,775

 

Diluted weighted average common shares

 

 

55,924

 

 

 

56,437

 

 

 

56,740

 

 

 

56,580

 

 

 

 

2017

 

 

 

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,

 

Revenue

 

$

241,459

 

 

$

211,016

 

 

$

207,723

 

 

$

195,142

 

Operating expenses

 

 

192,766

 

 

 

188,120

 

 

 

184,723

 

 

 

189,975

 

Gross margin

 

 

48,693

 

 

 

22,896

 

 

 

23,000

 

 

 

5,167

 

Corporate general and administrative expenses

 

 

8,768

 

 

 

9,232

 

 

 

7,979

 

 

 

7,316

 

Operating income (loss)

 

 

39,925

 

 

 

13,664

 

 

 

15,021

 

 

 

(2,149

)

Other income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

(1,517

)

 

 

(1,692

)

 

 

(1,777

)

 

 

(1,689

)

Gain on sale of operations, net

 

 

22

 

 

 

23

 

 

 

 

 

 

 

Other income, net

 

 

2,737

 

 

 

3,764

 

 

 

2,792

 

 

 

5,196

 

Total other income, net

 

 

1,242

 

 

 

2,095

 

 

 

1,015

 

 

 

3,507

 

Income from continuing operations before income

   tax expense

 

 

41,167

 

 

 

15,759

 

 

 

16,036

 

 

 

1,358

 

Income tax expense (benefit)

 

 

16,141

 

 

 

4,343

 

 

 

6,172

 

 

 

(3,368

)

Income from continuing operations

 

 

25,026

 

 

 

11,416

 

 

 

9,864

 

 

 

4,726

 

(Loss) gain from operations of discontinued

   operations, net of tax

 

 

(152

)

 

 

(418

)

 

 

(206

)

 

 

121

 

Net income

 

$

24,874

 

 

$

10,998

 

 

$

9,658

 

 

$

4,847

 

Earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.47

 

 

$

0.21

 

 

$

0.18

 

 

$

0.09

 

Discontinued operations

 

 

 

 

 

(0.01

)

 

 

 

 

 

 

Net income

 

$

0.47

 

 

$

0.20

 

 

$

0.18

 

 

$

0.09

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.45

 

 

$

0.20

 

 

$

0.18

 

 

$

0.08

 

Discontinued operations

 

 

 

 

 

(0.01

)

 

 

 

 

 

 

Net income

 

$

0.45

 

 

$

0.19

 

 

$

0.18

 

 

$

0.08

 

Basic weighted average common shares

 

 

53,293

 

 

 

53,968

 

 

 

54,142

 

 

 

54,034

 

Diluted weighted average common shares

 

 

55,214

 

 

 

55,831

 

 

 

55,827

 

 

 

55,822