| Selected Quarterly Financial Data (Unaudited) |
(18) Selected Quarterly Financial Data (Unaudited)
The following tables contain unaudited Statement of Operations
information for each quarter of 2014 and 2013. The Company believes
that the following information reflects all normal recurring
adjustments. During the fourth quarter of 2014, the Company
recognized a reduction in its accrued bonus expense as a result of
a change in estimate, which resulted in a $7.4 million increase in
income from continuing operations. The operating results for any
quarter are not necessarily indicative of results for any future
period.
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Quarter Ended |
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March 31 |
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June 30 |
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September 30 |
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December 31 |
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Year |
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(in thousands,
except per share data) |
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2014
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Revenues
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$ |
137,904 |
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$ |
141,853 |
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$ |
151,202 |
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$ |
148,871 |
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$ |
579,830 |
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Gross profit
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$ |
104,895 |
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$ |
106,240 |
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$ |
116,249 |
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$ |
117,236 |
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$ |
444,620 |
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(Loss) income from continuing operations, net of tax
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$ |
(6,482 |
) |
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$ |
(10,337 |
) |
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$ |
(845 |
) |
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$ |
22,699 |
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$ |
5,035 |
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Discontinued operations, net of tax
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0 |
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0 |
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0 |
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0 |
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0 |
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Net (loss) income
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$ |
(6,482 |
) |
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$ |
(10,337 |
) |
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$ |
(845 |
) |
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$ |
22,699 |
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$ |
5,035 |
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(Loss) earnings per share:(1)
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Basic, from continuing operations
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$ |
(0.57 |
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$ |
(0.91 |
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$ |
(0.07 |
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$ |
2.01 |
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$ |
0.45 |
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Basic, from discontinued operations
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0 |
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0 |
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0 |
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0 |
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0 |
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Basic (loss) earnings per share
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$ |
(0.57 |
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$ |
(0.91 |
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$ |
(0.07 |
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$ |
2.01 |
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$ |
0.45 |
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Diluted, from continuing operations
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$ |
(0.57 |
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$ |
(0.91 |
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$ |
(0.07 |
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$ |
1.99 |
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$ |
0.44 |
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Diluted, from discontinued operations
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0 |
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0 |
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0 |
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0 |
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0 |
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Diluted (loss) earnings per share
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$ |
(0.57 |
) |
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$ |
(0.91 |
) |
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$ |
(0.07 |
) |
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$ |
1.99 |
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$ |
0.44 |
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Quarter Ended |
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March 31 |
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June 30 |
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September 30 |
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December 31 |
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Year |
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(in thousands,
except per share data) |
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2013
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Revenues
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$ |
130,183 |
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$ |
137,905 |
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$ |
141,919 |
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$ |
165,881 |
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$ |
575,888 |
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Gross profit
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$ |
94,282 |
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$ |
101,459 |
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$ |
108,666 |
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$ |
132,912 |
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$ |
437,319 |
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(Loss) income from continuing operations, net of tax
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$ |
(5,191 |
) |
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$ |
(1,553 |
) |
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$ |
17,146 |
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$ |
16,148 |
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$ |
26,550 |
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Discontinued operations, net of tax
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56,782 |
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0 |
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0 |
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0 |
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56,782 |
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Net income (loss)
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$ |
51,591 |
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$ |
(1,553 |
) |
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$ |
17,146 |
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$ |
16,148 |
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$ |
83,332 |
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Earnings (loss) per share:(1)
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Basic, from continuing operations
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$ |
(0.46 |
) |
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$ |
(0.14 |
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$ |
1.52 |
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$ |
1.43 |
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$ |
2.35 |
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Basic, from discontinued operations
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5.03 |
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0 |
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0 |
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0 |
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5.02 |
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Basic earnings (loss) per share
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$ |
4.57 |
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$ |
(0.14 |
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$ |
1.52 |
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$ |
1.43 |
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$ |
7.37 |
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Diluted, from continuing operations
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$ |
(0.46 |
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$ |
(0.14 |
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$ |
1.52 |
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$ |
1.43 |
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$ |
2.35 |
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Diluted, from discontinued operations
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5.03 |
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0 |
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0 |
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0 |
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5.02 |
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Diluted earnings (loss) per share
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$ |
4.57 |
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$ |
(0.14 |
) |
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$ |
1.52 |
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$ |
1.43 |
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$ |
7.37 |
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| (1) |
The sum of the basic and diluted
earnings (loss) per share for the four quarters may differ from
annual earnings (loss) per share as the weighted-average shares
outstanding are computed independently for each of the quarters
presented. |
|