18.

QUARTERLY FINANCIAL DATA (UNAUDITED):

The table below sets forth the unaudited consolidated operating results by quarter for the years ended December 31, 2016 and 2015 (in thousands, except per share information).


	For the Three Months Ended
	March 31,		June 30,		September 30,		December 31,
2016:
Revenues	$	1,713,737	$	1,792,430	$	2,042,186	$	2,102,966
Gross profit		203,313		200,217		302,582		307,688
Net income		20,859		16,729		74,152		88,358
Net income attributable to common stock		20,496		16,562		73,742		87,583
Net income from continuing operations attributable to common stock		20,496		16,562		73,137		88,530
Earnings per share from continuing operations attributable to common stock — basic and diluted	$	0.13	$	0.11	$	0.47	$	0.57
2015:
Revenues	$	1,861,386	$	1,872,340	$	1,939,438	$	1,899,272
Gross profit		237,906		227,505		235,215		223,039
Net income (loss)		58,185		49,565		218,956		(4,882	)
Net income (loss) attributable to common stock		53,484		46,109		216,388		(5,074	)
Net income (loss) from continuing operations attributable to common stock		47,689		32,007		43,176		(2,586	)
Earnings (loss) per share from continuing operations attributable to common stock — basic and diluted	$	0.22	$	0.15	$	0.23	$	(0.02	)

During the fourth quarters of 2016 and 2015, Quanta recorded total asset impairment charges of $8.0 million ($7.1 million net of tax) and $58.5 million ($44.6 million net of tax). Quanta recorded asset impairments primarily related to certain international renewable energy services operations of $8.0 million in 2016 and $6.6 million in 2015. The 2016 impairment was primarily due to a pending disposition of certain international renewable energy services operations, and the 2015 impairment was based on the estimated future undiscounted cash flows for the asset group as compared to their carrying value. Also included in the asset impairment charges recorded in the fourth quarter of 2015 were a $39.8 million goodwill impairment and a $12.1 million impairment related to customer relationships, trade names and non-compete agreement intangible assets. These goodwill and intangible impairments primarily resulted from lower levels of expected activity in the U.S. Gulf of Mexico and, to a lesser extent, due to the extended low commodity price environment with respect to certain directional drilling operations in Australia.

Additionally, during the third quarter of 2015, net income and net income attributable to common stock included an approximate $171 million gain on the sale, net of tax, of Quanta’s fiber optic licensing operations.

The sum of the individual quarterly earnings per share amounts may not equal year-to-date earnings per share as each period’s computation is based on the weighted average number of shares outstanding during the period.