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Note 19 - Quarterly Financial Information
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information [Text Block]
19.
Quarterly Financial Information (amounts in thousands, except per share data)

The following table summarizes the unaudited quarterly results of operations for 2013 and 2012 (dollars in thousands):

   
2013 Quarters Ended (unaudited)
       
   
March 31
   
June 30
   
September 30
   
December 31
   
Total
 
Revenues
  $ 111,035     $ 133,350     $ 185,935     $ 125,916     $ 556,236  
Gross profit (loss)
    1,385       (16,635 )     8,359       (23,053 )     (29,944 )
Income (loss) before income taxes and earnings attributable to noncontrolling interests
    (7,219 )     (25,967 )     1,715       (37,333 )     (68,804 )
Net loss attributable to Sterling common stockholders
    (4,580 )     (17,025 )     (189 )     (52,135 )     (73,929 )
Net loss per share attributable to Sterling common stockholders:
                                       
Basic
  $ (0.39 )   $ (0.93 )   $ (0.06 )   $ (3.52 )   $ (4.91 )
Diluted
    (0.39 )     (0.93 )     (0.06 )     (3.52 )     (4.91 )

   
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 )

The Company’s operating revenues tend to be somewhat higher in the summer months which are typically due to warmer and dryer weather conditions. Our second and third quarter revenues and results of operations typically reflect these seasonal trends. However, from time to time, the Company’s operating results are significantly affected by certain transactions or events that management believes are not indicative or representative of our results.

During the first, second and fourth quarters of 2013, the Company recorded changes in estimated revenues and gross margin which resulted in net charges of $4.3 million, $20.6 million and $37.7 million, respectively. A significant portion of these revisions were attributable to three projects. Furthermore, during the fourth quarter, management recorded a valuation allowance of $28.2 million on the net deferred tax assets as a result of the fourth quarter revisions mentioned above. Refer to Note 12 for our disclosure regarding income taxes and deferred assets and liabilities.

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.