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Unaudited Quarterly Financial Data (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Unaudited Quarterly Financial Data

Unaudited summarized financial data by quarter for the years ended December 31, 2019 and 2018 is shown below (in thousands).

 

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

233,542

 

 

$

216,706

 

 

$

254,020

 

 

$

276,376

 

Operating loss

 

 

(49,127

)

 

 

(111,500

)

 

 

(72,834

)

 

 

(48,869

)

Loss before income tax expense

 

 

(77,390

)

 

 

(141,342

)

 

 

(102,610

)

 

 

(80,672

)

Net loss

 

 

(73,328

)

 

 

(113,988

)

 

 

(95,128

)

 

 

(74,770

)

Net loss per share, basic and diluted

 

$

(0.53

)

 

$

(0.83

)

 

$

(0.69

)

 

$

(0.54

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

295,510

 

 

$

268,861

 

 

$

286,322

 

 

$

232,522

 

Operating income (loss) (1)

 

 

512

 

 

 

(52,375

)

 

 

(23,043

)

 

 

(37,277

)

Loss before income tax expense

 

 

(25,142

)

 

 

(79,286

)

 

 

(55,894

)

 

 

(66,303

)

Net income (loss)

 

 

19,321

 

 

 

(69,274

)

 

 

(51,112

)

 

 

(79,207

)

Net income (loss) per share, basic and diluted

 

$

0.14

 

 

$

(0.50

)

 

$

(0.37

)

 

$

(0.58

)

 

(1)    During the second quarter of 2018, we recognized an impairment loss of $27.2 million to write down the carrying value of the Ocean Scepter to its estimated recoverable amount. See Note 3.