Summary of Unaudited Quarterly Financial Information

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Summary of Unaudited Quarterly Financial Information

The following financial information reflects all normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results and cash flows of interim periods. Summarized quarterly data for 2018 and 2017 are as follows (in thousands, except per share amounts):


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2018
Total revenues	$	56,157	$	90,043	$	45,663	$	59,590
Total operating costs and expenses	19,116		19,868		22,301		26,441
Income tax (expense) benefit	(10,033)		(22,419)		(11,864)		14,307



Net income (loss)	45,279		73,160		67,362		(42,482)
Basic per share amounts:
Net income (loss)	$	2.13	$	3.45	$	3.19	$	(2.02)
Diluted per share amounts:
Net income (loss)	$	1.83	$	2.99	$	2.80	$	(2.02)

Weighted average shares—basic	21,209		21,212		21,148		21,071
Weighted average shares—diluted	24,800		24,438		24,052		21,071

2017
Total revenues	$	29,267	$	27,995	$	33,375	$	50,465
Total operating costs and expenses	19,051		14,980		16,882		22,113
Income tax expense	(1,114)		(2,242)		(3,645)		(37,674)
Net income (loss)	5,079		6,058		8,426		(7,007)
Basic per share amounts:
Net income (loss)	$	0.24	$	0.29	$	0.40	$	(0.33)
Diluted per share amounts:
Net income (loss)	$	0.22	$	0.26	$	0.36	$	(0.33)

Weighted average shares—basic	20,938		21,013		21,071		21,109
Weighted average shares—diluted	23,019		23,216		23,551		21,109