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Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Results of Operations (Unaudited)

Quarterly Results of Operations (Unaudited)

15. Quarterly Results of Operations (Unaudited)

        Quarterly financial information for the years ended December 31, 2014 and 2013 is summarized as follows (in thousands, except per share data):

		2014
		Q1			Q2			Q3			Q4
Revenue		$	321,381		$	362,801		$	370,145		$	356,468
Gross profit			52,149			61,859			66,459			69,304
Operating income			1,897			10,648			14,785			14,892
Income from continuing operations			1,078			6,336			9,379			11,821
Income (loss) from discontinued operations, net of tax			(15	)		—			—			—
Net income including noncontrolling interests			1,063			6,336			9,379			11,821
Less: Net income attributable to noncontrolling interests			688			1,935			1,774			1,139
Net income attributable to Comfort Systems USA, Inc.			375			4,401			7,605			10,682
INCOME PER SHARE ATTRIBUTABLE TO COMFORT SYSTEMS USA, INC.:
Basic—
Income from continuing operations		$	0.01		$	0.12		$	0.20		$	0.29
Income from discontinued operations			—			—			—			—
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Net income		$	0.01		$	0.12		$	0.20		$	0.29
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Diluted—
Income from continuing operations		$	0.01		$	0.12		$	0.20		$	0.29
Income from discontinued operations			—			—			—			—
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Net income		$	0.01		$	0.12		$	0.20		$	0.29
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Net cash provided by (used in) operating activities		$	(8,784	)	$	22,385		$	23,881		$	5,070

		2013
		Q1			Q2			Q3(a)			Q4
Revenue		$	325,890		$	351,053		$	349,989		$	330,340
Gross profit			51,467			59,967			67,021			61,428
Operating income			5,086			14,379			17,734			9,059
Income from continuing operations			2,749			8,314			11,637			5,932
Income (loss) from discontinued operations, net of tax			(54	)		—			(25	)		3
Net income including noncontrolling interests			2,695			8,314			11,612			5,935
Less: Net income attributable to noncontrolling interests			163			552			233			339
Net income attributable to Comfort Systems USA, Inc.			2,532			7,762			11,379			5,596
INCOME PER SHARE ATTRIBUTABLE TO COMFORT SYSTEMS USA, INC.:
Basic—
Income from continuing operations		$	0.07		$	0.21		$	0.31		$	0.15
Income from discontinued operations			—			—			—			—
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Net income		$	0.07		$	0.21		$	0.31		$	0.15
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Diluted—
Income from continuing operations		$	0.07		$	0.21		$	0.30		$	0.15
Income from discontinued operations			—			—			—			—
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Net income		$	0.07		$	0.21		$	0.30		$	0.15
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Net cash provided by (used in) operating activities		$	(10,351	)	$	6,700		$	27,433		$	14,641

(a) Included in unaudited quarterly results of operations for the third quarter of 2013 is the correction of prior period accounting errors which resulted in net after-tax income of approximately $1.3 million, or $0.03 per diluted share. Refer to Footnote 2 for additional disclosure.

        The sums of the individual quarterly earnings per share amounts do not necessarily agree with year-to-date earnings per share as each quarter's computation is based on the weighted average number of shares outstanding during the quarter, the weighted average stock price during the quarter and the dilutive effects of options and contingently issuable restricted stock in each quarter.

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The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 270

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-Name Accounting Standards Codification

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-Name Staff Accounting Bulletin (SAB)

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