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Selected Quarterly Data (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Data [Abstract] |
Selected Quarterly Data (Unaudited) | The following table shows selected quarterly data for 2020 and 2019, in thousands, except earnings per share.
| 2020 Quarters
| 1st |  | 2nd |  | 3rd |  | 4th
Revenues | $ | 177,418 |  |  | $ | 168,715 |  |  | $ | 165,505 |  |  | $ | 150,021 |
Costs and operating expenses | $ | 161,256 |  |  | $ | 156,213 |  |  | $ | 151,320 |  |  | $ | 138,107 |
Operating income | $ | 9,734 |  |  | $ | (21,910) |  |  | $ | 14,185 |  |  | $ | 11,914 |
Net income (1) | $ | 3,332 |  |  | $ | (22,624) |  |  | $ | 8,108 |  |  | $ | 6,013 |
Basic earnings per share: |  |  |  |  |  |  |
Net income (1) | $ | 0.30 |  |  | $ | (2.05) |  |  | $ | 0.73 |  |  | $ | 0.54 |
Basic weighted average shares outstanding | 11,000 |  |  | 11,041 |  |  | 11,043 |  |  | 11,052 |
Diluted earnings per share: |  |  |  |  |  |  |
Net income | $ | 0.30 |  |  | $ | (2.05) |  |  | $ | 0.73 |  |  | $ | 0.54 |
Diluted weighted average shares outstanding | 11,101 |  |  | 11,041 |  |  | 11,100 |  |  | 11,141 |
| 2019 Quarters
| 1st |  | 2nd |  | 3rd |  | 4th
Revenues | $ | 169,919 |  |  | $ | 189,111 |  |  | $ | 198,326 |  |  | $ | 195,271 |
Costs and operating expenses | $ | 158,106 |  |  | $ | 172,695 |  |  | $ | 181,111 |  |  | $ | 180,458 |
Operating income | $ | 11,813 |  |  | $ | 16,416 |  |  | $ | 17,215 |  |  | $ | 14,813 |
Net income | $ | 6,603 |  |  | $ | 9,898 |  |  | $ | 10,527 |  |  | $ | 9,996 |
Basic earnings per share: |  |  |  |  |  |  |
Net income | $ | 0.60 |  |  | $ | 0.90 |  |  | $ | 0.96 |  |  | $ | 0.92 |
Basic weighted average shares outstanding | 10,920 |  |  | 10,970 |  |  | 10,970 |  |  | 10,970 |
Diluted earnings per share: |  |  |  |  |  |  |
Net income | $ | 0.60 |  |  | $ | 0.89 |  |  | $ | 0.95 |  |  | $ | 0.90 |
Diluted weighted average shares outstanding | 10,974 |  |  | 11,073 |  |  | 11,060 |  |  | 11,071 |
(1) Operating income for the first quarter of 2020 includes a $7.5 million loss of our Prime Turbines business offset by a $1.1 million gain from the sale of a Miami, FL real estate holding. Operating income for the second quarter of 2020 includes a $33.7 million goodwill and intangible asset impairment charge and a $678 thousand loss from the sale of all of the inventory assets of our CT Aerospace subsidiary.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121640914&loc=d3e1280-108306 + Details
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