Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL DATA (UNAUDITED)

The following is a summary of the unaudited quarterly results of operations for the years ended December 31, 2020 and 2019 (in thousands, except per share amounts).


	2020
	March 31,		June 30,		September 30,		December 31,
Revenue	$	277,455	$	236,943	$	238,389	$	211,110
Operating expenses	199,827		209,016		204,760		211,748
Gross margin	77,628		27,927		33,629		(638)
Corporate general and administrative expenses	10,489		11,160		11,339		13,078
Operating income (loss)	67,139		16,767		22,290		(13,716)
Other (expense) income:
Interest expense	(1,119)		(2,074)		(974)		(816)
Gain (loss) on sale of operations, net	95		57		(74)		(587)
Other (expense) income, net	(15,800)		13,336		5,914		13,050
Total other (expense) income, net	(16,824)		11,319		4,866		11,647
Income (loss) from continuing operations before income tax expense	50,315		28,086		27,156		(2,069)
Income tax expense (benefit)	13,453		6,607		7,060		(1,979)
Income (loss) from continuing operations	36,862		21,479		20,096		(90)
Loss from operations of discontinued operations, net of tax	(14)		(11)		(19)		(4)
Net income (loss)	$	36,848	$	21,468	$	20,077	$	(94)
Earnings (loss) per share:
Basic:
Continuing operations	$	0.68	$	0.40	$	0.37	$	—
Discontinued operations	—		—		—		—
Net income (loss)	$	0.68	$	0.40	$	0.37	$	—
Diluted:
Continuing operations	$	0.66	$	0.39	$	0.36	$	—
Discontinued operations	—		—		—		—
Net income (loss)	$	0.66	$	0.39	$	0.36	$	—
Basic weighted average common shares	54,571		54,142		54,403		54,039
Diluted weighted average common shares	55,945		55,116		55,360		54,039


	2019
	March 31,		June 30,		September 30,		December 31,
Revenue	$	269,998	$	235,498	$	239,790	$	203,138
Operating expenses	215,496		198,148		209,146		200,706
Gross margin	54,502		37,350		30,644		2,432
Corporate general and administrative expenses	11,680		10,566		11,670		10,490
Operating income (loss)	42,822		26,784		18,974		(8,058)
Other income (expense):
Interest expense	(1,401)		(1,587)		(1,521)		(1,256)
Gain (loss) on sale of operations, net	497		50		(145)		15
Other income (expense), net	9,260		(3,311)		6,767		4,999
Total other income (expense), net	8,356		(4,848)		5,101		3,758
Income (loss) from continuing operations before income tax expense	51,178		21,936		24,075		(4,300)
Income tax expense (benefit)	13,613		5,322		6,069		(3,164)
Income (loss) from continuing operations	37,565		16,614		18,006		(1,136)
Loss from operations of discontinued operations, net of tax	(96)		(22)		(200)		(17)
Net income (loss)	$	37,469	$	16,592	$	17,806	$	(1,153)
Earnings (loss) per share:
Basic:
Continuing operations	$	0.69	$	0.31	$	0.33	$	(0.02)
Discontinued operations	—		—		—		—
Net income (loss)	$	0.69	$	0.31	$	0.33	$	(0.02)
Diluted:
Continuing operations	$	0.67	$	0.30	$	0.32	$	(0.02)
Discontinued operations	—		—		—		—
Net income (loss)	$	0.67	$	0.30	$	0.32	$	(0.02)
Basic weighted average common shares	54,287		54,090		54,268		54,547
Diluted weighted average common shares	55,915		55,495		55,816		54,547

Quarterly earnings per share amounts do not always add to the full-year amounts due to the averaging of common shares outstanding.