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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (Unaudited)

NOTE 17. Selected Quarterly Financial Data (Unaudited)

The following table sets forth the selected quarterly financial data for each of the quarters in 2018 (in thousands, except per share amounts):

 

Quarter Ended

 

 

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,

 

 

2018

 

 

2018

 

 

2018

 

 

2018

 

Year Ended December 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

$

837,342

 

 

$

894,734

 

 

$

933,224

 

 

$

1,018,293

 

Gross margin

 

91,039

 

 

 

100,991

 

 

 

114,984

 

 

 

138,587

 

Operating income

 

16,535

 

 

 

25,406

 

 

 

34,734

 

 

 

48,244

 

Income from continuing operations before provision for income taxes

 

14,393

 

 

 

23,051

 

 

 

32,914

 

 

 

46,367

 

Income from continuing operations

 

11,069

 

 

 

17,154

 

 

 

25,764

 

 

 

33,674

 

Income from discontinued operations, net of income taxes

 

5,099

 

 

 

4,897

 

 

 

88,846

 

 

 

15,237

 

Net income

 

16,168

 

 

 

22,051

 

 

 

114,610

 

 

 

48,911

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.33

 

 

$

0.51

 

 

$

0.77

 

 

$

1.01

 

Diluted

$

0.33

 

 

$

0.51

 

 

$

0.77

 

 

$

1.01

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share from discontinued operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.15

 

 

$

0.15

 

 

$

2.66

 

 

$

0.45

 

Diluted

$

0.15

 

 

$

0.15

 

 

$

2.64

 

 

$

0.45

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share from net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.48

 

 

$

0.66

 

 

$

3.43

 

 

$

1.46

 

Diluted

$

0.48

 

 

$

0.66

 

 

$

3.41

 

 

$

1.46

 

 

The following table sets forth the selected quarterly financial data for each of the quarters in 2017 (in thousands, except per share amounts):

 

Quarter Ended

 

 

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,

 

 

2017

 

 

2017

 

 

2017

 

 

2017

 

Year Ended December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

$

680,443

 

 

$

708,572

 

 

$

824,809

 

 

$

909,239

 

Gross margin

 

71,791

 

 

 

72,906

 

 

 

86,327

 

 

 

106,606

 

Operating income

 

11,313

 

 

 

10,465

 

 

 

15,824

 

 

 

35,067

 

Income from continuing operations before provision for income taxes

 

10,511

 

 

 

9,605

 

 

 

13,877

 

 

 

32,938

 

Income from continuing operations

 

6,543

 

 

 

5,724

 

 

 

11,665

 

 

 

96,082

 

Income from discontinued operations, net of income taxes

 

3,791

 

 

 

3,818

 

 

 

3,669

 

 

 

3,861

 

Net income

 

10,334

 

 

 

9,542

 

 

 

15,334

 

 

 

99,943

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.20

 

 

$

0.17

 

 

$

0.35

 

 

$

2.89

 

Diluted

$

0.20

 

 

$

0.17

 

 

$

0.35

 

 

$

2.87

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share from discontinued operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.11

 

 

$

0.12

 

 

$

0.11

 

 

$

0.12

 

Diluted

$

0.11

 

 

$

0.12

 

 

$

0.11

 

 

$

0.12

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share from net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.31

 

 

$

0.29

 

 

$

0.46

 

 

$

3.01

 

Diluted

$

0.31

 

 

$

0.29

 

 

$

0.46

 

 

$

2.99

 

 

 

 

On August 31, 2018, Hub entered into the Purchase Agreement with Mode, pursuant to which the Company sold all of the issued and outstanding membership interest of Mode to Purchaser.  In 2018, we adjusted our consolidated financial statements to reflect Mode as

a discontinued operation for that year and all prior periods presented.  The selected financial data for 2018 and prior years reflect Mode as a discontinued operation.  Refer to the Note 4 Discontinued Operations for additional information regarding the sale of Mode.