QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

The following is a summary of certain items in the consolidated statements of operations by quarter:



Fiscal Year 2018	First Quarter			Second Quarter		Third Quarter		Fourth Quarter
Revenues	$	147,455		$	165,649	$	172,832	$	174,724
Operating income (loss)	$	838		$	15,149	$	28,884	$	(5,138	)
Net (loss) income	$	(3,910	)	$	1,704	$	22,302	$	(13,676	)
Earnings per common share:								—
Basic weighted average common shares outstanding	42,370			42,661		42,779		42,936
Basic earnings per share	$	(0.09	)	$	0.04	$	0.52	$	(0.32	)
Diluted weighted average common shares outstanding	42,370			43,916		44,175		42,936
Diluted earnings per share	$	(0.09	)	$	0.04	$	0.50	$	(0.32	)



Fiscal Year 2017	First Quarter			Second Quarter			Third Quarter		Fourth Quarter
Revenues	$	133,802		$	154,016		$	160,269	$	151,222
Operating income (loss)	$	6,564		$	(47,279	)	$	18,277	$	9,855
Net (loss) income	$	(224	)	$	(53,675	)	$	12,080	$	20,020
Earnings per common share:
Basic weighted average common shares outstanding	41,584			41,811			41,951		42,033
Basic earnings per share	$	(0.01	)	$	(1.28	)	$	0.29	$	0.48
Diluted weighted average common shares outstanding	41,584			41,811			43,295		43,394
Diluted earnings per share	$	(0.01	)	$	(1.28	)	$	0.28	$	0.46

Our transfer and disposal revenues historically have been lower from the months of November through March. This seasonality reflects the lower volume of waste during the late fall, winter and early spring months. Since certain of our operating and fixed costs remain constant throughout fiscal year, operating income is impacted by a similar seasonality. In addition, particularly harsh weather conditions typically result in increased operating costs.

Our recycling business experiences increased volumes of newspaper in November and December due to increased newspaper advertising and retail activity during the holiday season.