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Unaudited Quarterly Financial Results | 12 Months Ended
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Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract] |
Unaudited Quarterly Result | Unaudited Quarterly Results. The following tables present unaudited quarterly financial information during the years ended December 31, 2012 and 2011. In the opinion of the Company’s management, the quarterly information contains all adjustments, consisting only of normal recurring accruals, necessary for a fair presentation thereof. The operating results for any quarter are not necessarily indicative of the results for any future periods. Subsequent to the issuance of the Company's quarterly report on Form 10-Q for the second quarter of 2012, the Company identified an immaterial classification error of $0.5 million related to certain vendor fees paid by Apex Systems, Inc., which we acquired in May 2012 (see Note 4 - Acquisitions). Such fees should have been recorded as revenues, rather than in costs of services. The Company considers this an immaterial reclassification and has presented the revenues and cost of services for the year ended December 31, 2012 reflecting the reclassification in the pro forma revenues in Note 4 - Acquisitions, and revenues in the table below. The Company will present the corrected results for the three and six months ended June 30, 2012 in future filings. This reclassification has no effect on the Company's consolidated balance sheets or consolidated statement of cash flows.
|  | 2012
|  | Dec. 31, |  | Sep. 30, |  | Jun. 30, |  | Mar. 31,
|  | (in thousands, except per share data)
Revenues |  | $ | 380,381 |  |  | $ | 374,511 |  |  | $ | 265,863 |  |  | $ | 156,760 |
Gross profit |  | $ | 115,619 |  |  | $ | 115,631 |  |  | $ | 84,537 |  |  | $ | 52,749 |
Income from continuing operations |  | $ | 9,748 |  |  | $ | 16,586 |  |  | $ | 7,030 |  |  | $ | 5,047 |
Income from discontinued operations, net of income taxes |  | 1,574 |  |  | 847 |  |  | 1,485 |  |  | 336 |
Net income |  | $ | 11,322 |  |  | $ | 17,433 |  |  | $ | 8,515 |  |  | $ | 5,383 |
Basic earnings per common share: |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 0.19 |  |  | $ | 0.32 |  |  | $ | 0.16 |  |  | $ | 0.14 |
Income from discontinued operations |  | 0.03 |  |  | 0.01 |  |  | 0.03 |  |  | — |
Net income |  | $ | 0.22 |  |  | $ | 0.33 |  |  | $ | 0.19 |  |  | $ | 0.14 |
Diluted earnings per common share: |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 0.18 |  |  | $ | 0.31 |  |  | $ | 0.15 |  |  | $ | 0.13 |
Income from discontinued operations |  | 0.03 |  |  | 0.02 |  |  | 0.04 |  |  | 0.01 |
Net income |  | $ | 0.21 |  |  | $ | 0.33 |  |  | $ | 0.19 |  |  | $ | 0.14 |
|  | 2011
|  | Dec. 31, |  | Sep. 30, |  | Jun. 30, |  | Mar. 31,
|  | (in thousands, except per share data)
Revenues |  | $ | 148,029 |  |  | $ | 147,014 |  |  | $ | 132,862 |  |  | $ | 119,734 |
Gross profit |  | $ | 50,151 |  |  | $ | 50,793 |  |  | $ | 46,179 |  |  | $ | 40,705 |
Income from continuing operations |  | $ | 6,636 |  |  | $ | 6,843 |  |  | $ | 5,450 |  |  | $ | 2,821 |
Income from discontinued operations, net of income taxes |  | 865 |  |  | 924 |  |  | 415 |  |  | 343 |
Net income |  | $ | 7,501 |  |  | $ | 7,767 |  |  | $ | 5,865 |  |  | $ | 3,164 |
Basic earnings per common share: |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 0.18 |  |  | $ | 0.18 |  |  | $ | 0.15 |  |  | $ | 0.08 |
Income from discontinued operations |  | 0.02 |  |  | 0.03 |  |  | 0.01 |  |  | 0.01 |
Net income |  | $ | 0.20 |  |  | $ | 0.21 |  |  | $ | 0.16 |  |  | $ | 0.09 |
Diluted earnings per common share: |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 0.18 |  |  | $ | 0.18 |  |  | $ | 0.14 |  |  | $ | 0.08 |
Income from discontinued operations |  | 0.02 |  |  | 0.03 |  |  | 0.02 |  |  | — |
Net Income |  | $ | 0.20 |  |  | $ | 0.21 |  |  | $ | 0.16 |  |  | $ | 0.08 |

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=20225539&loc=d3e1280-108306 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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