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Unaudited Quarterly Financial Results
 12 Months Ended
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