Note 18 - Quarterly Financial Information (amounts in thousands, except per share data)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information [Text Block]

18.	Quarterly Financial Information (amounts in thousands, except per share data)

	2012 Quarters Ended (unaudited)
	March 31			June 30		September 30		December 31		Total
Revenues	$	98,425		$	168,709	$	205,284	$	158,089	$	630,507
Gross profit		1,873			15,159		14,170		16,270		47,472
Income (loss) before income taxes and earnings attributable to noncontrolling interests		(3,781	)		8,652		4,915		7,347		17,133
Net income (loss) attributable to Sterling common stockholders		(7,500	)		3,287		990		2,926		(297	)
Net income (loss) per share attributable to Sterling common stockholders:
Basic	$	(0.44	)	$	0.15	$	0.01	$	0.01	$	(0.26	)
Diluted		(0.44	)		0.15		0.01		0.01		(0.26	)

	2011 Quarters Ended (unaudited)
	March 31		June 30		September 30		December 31			Total
Revenues	$	99,242	$	128,498	$	159,427	$	113,989		$	501,156
Gross profit		7,599		13,582		14,756		3,900			39,837
Income (loss) before income taxes and earnings attributable to noncontrolling interests		1,648		7,437		7,925		(68,726	)		(51,716	)
Net income (loss) attributable to Sterling common stockholders		44		4,211		3,461		(43,616	)		(35,900	)
Net income (loss) per share attributable to Sterling common stockholders:
Basic	$	0.00	$	0.26	$	0.21	$	(2.72	)	$	(2.24	)
Diluted		0.00		0.25		0.21		(2.72	)		(2.24	)

During the fourth quarter of 2011, the Company completed an evaluation of the carrying value of goodwill resulting in an impairment charge of $67.0 million. This charge had an impact of $41.8 million on the net loss attributable to Sterling common stockholders (net of the related tax benefits and reduced for the amount attributable to noncontrolling interest owners) or $2.55 per diluted share. During the fourth quarter of 2011, changes in estimated revenues and gross margin resulted in a net charge of $5.9 million included in the operating loss and a $4.2 million after-tax charge, or $0.26 per diluted share attributable to Sterling common stockholders, included in net loss attributable to Sterling common stockholders. During the first quarter of 2012, the Company recorded a $4.4 million after-tax charge, or $0.27 per diluted share attributable to Sterling common shareholders, related to an agreement with the noncontrolling interest owners of RLW to exclude the impact of any goodwill impairment from earning attributable to such owners.