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Quarterly Financial Information (in thousands, except per share amounts) (unaudited) | 12 Months Ended
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Dec. 31, 2011
Quarterly Financial Information (in thousands, except per share amounts) (unaudited) |
18. | Quarterly Financial Information (in thousands, except per share amounts) (unaudited)
|  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |
2010 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 271,598 |  |  | $ | 306,992 |  |  | $ | 378,663 |  |  | $ | 505,678 |
Operating income |  |  | 7,831 |  |  |  | 45,757 |  |  |  | 52,509 |  |  |  | 94,828 |
Income from continuing operations, net of income taxes |  |  | 4,186 |  |  |  | 29,528 |  |  |  | 29,374 |  |  |  | 54,810 |
Loss from discontinued operations, net of income taxes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (956 | )
Net income |  |  | 4,186 |  |  |  | 29,528 |  |  |  | 29,374 |  |  |  | 53,854 |
Basic income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
From continuing operations |  | $ | 0.03 |  |  | $ | 0.19 |  |  | $ | 0.19 |  |  | $ | 0.36 |
From discontinued operations |  | $ | 0.00 |  |  | $ | 0.00 |  |  | $ | 0.00 |  |  | $ | (0.01 | )
Net income |  | $ | 0.03 |  |  | $ | 0.19 |  |  | $ | 0.19 |  |  | $ | 0.35 |
Diluted income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
From continuing operations |  | $ | 0.03 |  |  | $ | 0.19 |  |  | $ | 0.19 |  |  | $ | 0.35 |
From discontinued operations |  | $ | 0.00 |  |  | $ | 0.00 |  |  | $ | 0.00 |  |  | $ | (0.01 | )
Net income |  | $ | 0.03 |  |  | $ | 0.19 |  |  | $ | 0.19 |  |  | $ | 0.35 |
2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 567,404 |  |  | $ | 600,064 |  |  | $ | 673,828 |  |  | $ | 724,647 |
Operating income |  |  | 117,547 |  |  |  | 131,860 |  |  |  | 132,294 |  |  |  | 143,900 |
Income from continuing operations, net of income taxes |  |  | 71,619 |  |  |  | 81,638 |  |  |  | 81,928 |  |  |  | 87,595 |
Loss from discontinued operations, net of income taxes |  |  | (367 | ) |  |  | — |  |  |  | — |  |  |  | — |
Net income |  |  | 71,252 |  |  |  | 81,638 |  |  |  | 81,928 |  |  |  | 87,595 |
Basic income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
From continuing operations |  | $ | 0.46 |  |  | $ | 0.53 |  |  | $ | 0.53 |  |  | $ | 0.56 |
From discontinued operations |  | $ | 0.00 |  |  | $ | 0.00 |  |  | $ | 0.00 |  |  | $ | 0.00 |
Net income |  | $ | 0.46 |  |  | $ | 0.53 |  |  | $ | 0.53 |  |  | $ | 0.56 |
Diluted income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
From continuing operations |  | $ | 0.46 |  |  | $ | 0.52 |  |  | $ | 0.53 |  |  | $ | 0.56 |
From discontinued operations |  | $ | 0.00 |  |  | $ | 0.00 |  |  | $ | 0.00 |  |  | $ | 0.00 |
Net income |  | $ | 0.46 |  |  | $ | 0.52 |  |  | $ | 0.53 |  |  | $ | 0.56 |
As discussed in Note 2, the Company exited the drilling and completion fluids services business in January 2010 and sold a recently acquired wireline business in January 2011. The results of operations related to those businesses have been reclassified and presented as discontinued operations in the quarterly financial information above.

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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 SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 2: 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 3: 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 4: 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 5: 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 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a Reference 7: 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=6952194&loc=d3e1280-108306 + Details
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