Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2017

QUARTERLY FINANCIAL DATA (UNAUDITED)

Summarized quarterly financial data for the fiscal years ended December 31, 2017 and 2016, are set forth in the table below (in thousands, except per share amounts). The Company’s operations are subject to seasonal fluctuations. The Company issued 20,181,000 shares of common stock on September 1, 2016 as a result of the Merger, which significantly increased the diluted weighted average shares used in computing diluted income (loss) per share. The Company computed the quarterly diluted income per share amounts as if each quarter was a discrete period based on that quarter’s weighted average shares outstanding. As a result, the sum of the diluted earnings per share by quarter will not necessarily total the annual diluted earnings per share.



	Quarter Ended
	March 31		June 30		September 30			December 31
2017
Total revenue	$	447,576	$	416,629	$	435,412		$	480,205
Total cost of revenue	204,676		192,205		204,366			231,069
Net revenue	242,900		224,424		231,046			249,136
Total expenses and other income	190,658		202,956		189,479			192,101
Net income	32,645		15,239		28,274			67,734
Diluted net income per share	0.67		0.32		0.59			1.43
Diluted weighted average shares	48,402		48,289		47,668			47,212

2016
Total revenue	$	183,203	$	181,979	$	261,153		$	462,042
Total cost of revenue	81,340		80,518		113,789			207,927
Net revenue	101,863		101,461		147,364			254,115
Total expenses and other income	82,202		84,215		146,941			197,998
Net income (loss)	13,174		11,673		(1,412		)	36,692
Diluted net income (loss) per share	0.47		0.41		(0.04		)	0.76
Diluted weighted average shares	28,241		28,243		34,631			48,532