| Summary of Quarterly Results of Operations (Unaudited) |
Note 22 — Summary of Quarterly Results of Operations (Unaudited)
Summarized quarterly financial results for 2011 and 2010 follows:
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First
Quarter |
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Second
Quarter |
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Third
Quarter |
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Fourth
Quarter |
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(In thousands, except per share amounts) |
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2011
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Total revenues
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$ |
29,840 |
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$ |
25,485 |
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$ |
26,241 |
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$ |
54,007 |
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Gross profit
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18,629 |
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14,405 |
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12,928 |
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22,646 |
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Operating income (loss)
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984 |
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(2,927 |
) |
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60,171 |
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(113 |
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Equity in earnings (loss) of unconsolidated ventures
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582 |
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402 |
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648 |
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(30,841 |
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Income (loss) before taxes
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(2,416 |
) |
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(7,154 |
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56,574 |
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(34,742 |
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Net income (loss) attributable to Forestar Group Inc.
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(2,473 |
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(3,921 |
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36,428 |
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(22,880 |
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Net income (loss) per share — basic
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(0.07 |
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(0.11 |
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1.03 |
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(0.65 |
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Net income (loss) per share — diluted
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(0.07 |
) |
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(0.11 |
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1.02 |
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(0.65 |
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2010
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Total revenues
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$ |
26,358 |
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$ |
28,137 |
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$ |
24,013 |
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$ |
22,852 |
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Gross profit
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15,214 |
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16,032 |
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15,210 |
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6,682 |
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Operating income (loss)
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(571 |
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684 |
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15,531 |
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3,241 |
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Equity in earnings of unconsolidated ventures
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371 |
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287 |
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82 |
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3,961 |
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Income (loss) before taxes
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(4,548 |
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(2,886 |
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11,946 |
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3,792 |
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Net income (loss) attributable to Forestar Group Inc.
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(2,972 |
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(3,273 |
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8,922 |
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2,448 |
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Net income (loss) per share — basic
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(0.08 |
) |
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(0.09 |
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0.25 |
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0.07 |
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Net income (loss) per share — diluted
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(0.08 |
) |
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(0.09 |
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0.25 |
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0.07 |
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