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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (Unaudited)

(14) Selected Quarterly Financial Data (Unaudited)

The following tables contain unaudited Statement of Operations information for each quarter of 2018 and 2017. During the fourth quarter of 2017, the Company estimated and recorded a one-time tax provision of $44.0 million as a result of the Tax Act. This tax provision was comprised of a $40.3 million Transition Tax and a $3.7 million charge related to the re-measurement of net deferred tax assets arising from the new lower corporate tax rate effected by the Tax Act. The Company subsequently recorded a measurement-period adjustment to reduce the Transition Tax by $3.1 million in the third quarter of 2018.

 

 

 

Quarter Ended

 

 

 

 

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

 

Year

 

 

 

(in thousands, except per share data)

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

122,967

 

 

$

120,602

 

 

$

122,152

 

 

$

131,917

 

 

$

497,638

 

Gross profit

 

$

97,782

 

 

$

95,562

 

 

$

98,763

 

 

$

106,032

 

 

$

398,139

 

Net income

 

$

1,673

 

 

$

4,828

 

 

$

12,699

 

 

$

3,301

 

 

$

22,501

 

Earnings per share:(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.15

 

 

$

0.42

 

 

$

1.11

 

 

$

0.30

 

 

$

1.98

 

Diluted

 

$

0.15

 

 

$

0.42

 

 

$

1.10

 

 

$

0.30

 

 

$

1.97

 

 

 

 

Quarter Ended

 

 

 

 

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

 

Year

 

 

 

(in thousands, except per share data)

 

2017 (as adjusted)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

122,232

 

 

$

119,220

 

 

$

126,010

 

 

$

136,381

 

 

$

503,843

 

Gross profit

 

$

99,100

 

 

$

94,845

 

 

$

101,621

 

 

$

111,628

 

 

$

407,194

 

Net income (loss)

 

$

15,557

 

 

$

9,953

 

 

$

18,184

 

 

$

(25,499

)

 

$

18,195

 

Earnings (loss) per share:(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.36

 

 

$

0.87

 

 

$

1.59

 

 

$

(2.23

)

 

$

1.59

 

Diluted

 

$

1.34

 

 

$

0.86

 

 

$

1.58

 

 

$

(2.23

)

 

$

1.58

 

 

(1)

The sum of the basic and diluted earnings (loss) per share for the four quarters may differ from annual earnings per share as the weighted-average shares outstanding are computed independently for each of the quarters presented.