Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Note 20. Quarterly Financial Data (Unaudited)

The following is a summary of the unaudited quarterly results of operations for the years ended December 31, 2019 and 2018 (in thousands, except per share amounts).

	2019
	March 31,			June 30,			September 30,			December 31,
Revenue	$	269,998		$	235,498		$	239,790		$	203,138
Operating expenses		215,496			198,148			209,146			200,706
Gross margin		54,502			37,350			30,644			2,432
Corporate general and administrative expenses		11,680			10,566			11,670			10,490
Operating income		42,822			26,784			18,974			(8,058	)
Other (expense) income:
Interest expense		(1,401	)		(1,587	)		(1,521	)		(1,256	)
Gain on sale of operations, net		497			50			(145	)		15
Other (expense) income, net		9,260			(3,311	)		6,767			4,999
Total other (expense) income, net		8,356			(4,848	)		5,101			3,758
Income (loss) from continuing operations before income tax expense		51,178			21,936			24,075			(4,300	)
Income tax expense (benefit)		13,613			5,322			6,069			(3,164	)
Income (loss) from continuing operations		37,565			16,614			18,006			(1,136	)
Gain (loss) from operations of discontinued operations, net of tax		(96	)		(22	)		(200	)		(17	)
Net income (loss)	$	37,469		$	16,592		$	17,806		$	(1,153	)
Earnings (loss) per share:
Basic:
Continuing operations	$	0.69		$	0.31		$	0.33		$	(0.02	)
Discontinued operations		—			—			—			—
Net income (loss)	$	0.69		$	0.31		$	0.33		$	(0.02	)
Diluted:
Continuing operations	$	0.67		$	0.30		$	0.32		$	(0.02	)
Discontinued operations		—			—			—			—
Net income (loss)	$	0.67		$	0.30		$	0.32		$	(0.02	)
Basic weighted average common shares		54,287			54,090			54,268			54,547
Diluted weighted average common shares		55,915			55,495			55,816			54,547

	2018
	March 31,			June 30,			September 30,			December 31,
Revenue	$	266,090		$	232,641		$	224,249		$	199,023
Operating expenses		204,750			205,102			198,607			181,824
Gross margin		61,340			27,539			25,642			17,199
Corporate general and administrative expenses		10,028			9,993			10,279			8,873
Operating income (loss)		51,312			17,546			15,363			8,326
Other income:
Interest expense		(1,780	)		(1,817	)		(1,614	)		(1,434	)
Gain on sale of operations, net		663			—			—			362
Other income, net		(1,229	)		630			3,143			(9,631	)
Total other income, net		(2,346	)		(1,187	)		1,529			(10,703	)
Income from continuing operations before income tax expense		48,966			16,359			16,892			(2,377	)
Income tax expense (benefit)		13,156			3,238			3,297			(1,424	)
Income from continuing operations		35,810			13,121			13,595			(953	)
(Loss) gain from operations of discontinued operations, net of tax		41			(15	)		(9	)		(20	)
Net income	$	35,851		$	13,106		$	13,586		$	(973	)
Earnings (loss) per share:
Basic:
Continuing operations	$	0.66		$	0.24		$	0.25		$	(0.02	)
Discontinued operations		—			—			—			—
Net income	$	0.66		$	0.24		$	0.25		$	(0.02	)
Diluted:
Continuing operations	$	0.64		$	0.23		$	0.24		$	(0.02	)
Discontinued operations		—			—			—			—
Net income	$	0.64		$	0.23		$	0.24		$	(0.02	)
Basic weighted average common shares		54,071			54,594			54,794			54,775
Diluted weighted average common shares		55,924			56,437			56,740			54,775

Quarterly earnings per share amounts do not always add to the full-year amounts due to the averaging of common shares outstanding.