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Note 18 - Quarterly Financial Information | 12 Months Ended
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Dec. 31, 2016
Notes to Financial Statements |
Quarterly Financial Information [Text Block] |
18. | Quarterly Financial Information
The following table summarizes the unaudited quarterly results of operations for 2016 and 2015 (amounts in thousands, except per share data):
|  | 2016 Quarters Ended (unaudited) |  |
|  | March 31 |  | June 30 |  | September 30 |  | December 31 |  | Total
Revenues |  | $ | 126,567 |  |  | $ | 189,582 |  |  | $ | 205,629 |  |  | $ | 168,345 |  |  | $ | 690,123 |
Gross profit |  |  | 3,830 |  |  |  | 16,089 |  |  |  | 17,032 |  |  |  | 6,903 |  |  |  | 43,854 |
Income (loss) before income taxes and earnings attributable to noncontrolling interests |  |  | (7,336 | ) |  |  | 2,570 |  |  |  | 3,196 |  |  |  | (5,754 | ) |  |  | (7,324 | )
Net income (loss) attributable to Sterling common stockholders |  |  | (7,328 | ) |  |  | 2,023 |  |  |  | 2,415 |  |  |  | (6,348 | ) |  |  | (9,238 | )
Net income (loss) per share attributable to Sterling common stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  | $ | (0.37 | ) |  | $ | 0.09 |  |  | $ | 0.10 |  |  | $ | (0.25 | ) |  | $ | (0.40 | )
|  | 2015 Quarters Ended (unaudited) |  |
|  | March 31 |  | June 30 |  | September 30 |  | December 31 |  | Total
Revenues |  | $ | 117,682 |  |  | $ | 177,425 |  |  | $ | 176,000 |  |  | $ | 152,488 |  |  | $ | 623,595 |
Gross profit (loss) |  |  | (6,836 | ) |  |  | 9,111 |  |  |  | 14,458 |  |  |  | 12,220 |  |  |  | 28,953 |
Income (loss) before income taxes and earnings attributable to noncontrolling interests |  |  | (16,697 | ) |  |  | (967 | ) |  |  | 1,326 |  |  |  | (841 | ) |  |  | (17,179 | )
Net income (loss) attributable to Sterling common stockholders |  |  | (16,992 | ) |  |  | (2,542 | ) |  |  | 256 |  |  |  | (19,898 | ) |  |  | (39,176 | )
Net income (loss) per share attributable to Sterling common stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  | $ | (0.90 | ) |  | $ | (0.13 | ) |  | $ | 0.01 |  |  | $ | (1.01 | ) |  | $ | (2.02 | )
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 quarter of 2016, the Company was challenged with unusually poor weather conditions, including rain in Texas and snow at our Nevada jobs. In addition, in the fourth quarter, there was a $2.5 million charge on a negotiated global settlement with several entities which allowed the close-out of a Texas project, thus avoiding further negotiation and litigation expense, along with charges on Texas projects and to under-recovered equipment costs. In 2015, the Company recorded downward percent-complete revisions to certain projects in the first quarter of 2015, largely related to construction projects in Texas, and there was unseasonably more rainfall during second quarter of 2015, also in Texas, which caused declines in productivity and unanticipated delays during this quarter. The fourth quarter loss was largely due to a revaluation of noncontrolling interest due to a new agreement with the noncontrolling interest owners.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=68076893&loc=d3e1570-108306 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305 + Details
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