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UNAUDITED QUARTERLY RESULTS OF OPERATIONS | 12 Months Ended
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Dec. 31, 2019
UNAUDITED QUARTERLY RESULTS OF OPERATIONS |
UNAUDITED QUARTERLY RESULTS OF OPERATIONS | 18 - UNAUDITED QUARTERLY RESULTS OF OPERATIONS In the opinion of the Company’s management, all adjustments, consisting of normal recurring accruals considered necessary for a fair presentation have been included on a quarterly basis.
|  | 2019 |
|  | Quarter Ended (2) |
(In thousands, except share and per share amounts) |  | March 31, |  | June 30, |  | September 30, |  | December 31, |
Voyage Revenues |  | $ | 93,464 |  | $ | 83,550 |  | $ | 103,776 |  | $ | 108,705 |
Operating (loss) income |  |  | (882) |  |  | (27,309) |  |  | (7,772) |  |  | 7,560 |
Net (loss) income |  |  | (7,801) |  |  | (34,476) |  |  | (14,591) |  |  | 882 |
Net (loss) earnings per share - basic (1) |  | $ | (0.19) |  | $ | (0.83) |  | $ | (0.35) |  | $ | 0.02 |
Net (loss) earnings per share - diluted (1) |  | $ | (0.19) |  | $ | (0.83) |  | $ | (0.35) |  | $ | 0.02 |
Dividends declared per share |  | $ | — |  | $ | — |  | $ | — |  | $ | 0.50 |
Weighted average common shares outstanding - basic |  |  | 41,726,106 |  |  | 41,742,301 |  |  | 41,749,200 |  |  | 41,832,942 |
Weighted average common shares outstanding - diluted |  |  | 41,726,106 |  |  | 41,742,301 |  |  | 41,749,200 |  |  | 41,989,553 |
|  | 2018 |
|  | Quarter Ended (2) |
(In thousands, except share and per share amounts) |  | March 31, |  | June 30, |  | September 30, |  | December 31, |
Voyage Revenues |  | $ | 76,916 |  | $ | 86,157 |  | $ | 92,263 |  | $ | 112,185 |
Operating (loss) income |  |  | (48,398) |  |  | 10,851 |  |  | 12,089 |  |  | 25,972 |
Net (loss) income |  |  | (55,813) |  |  | (1,120) |  |  | 5,708 |  |  | 18,283 |
Net (loss) earnings per share - basic (1) |  | $ | (1.61) |  | $ | (0.03) |  | $ | 0.14 |  | $ | 0.44 |
Net (loss) earnings per share - diluted (1) |  | $ | (1.61) |  | $ | (0.03) |  | $ | 0.14 |  | $ | 0.44 |
Weighted average common shares outstanding - basic |  |  | 34,577,990 |  |  | 35,516,058 |  |  | 41,618,187 |  |  | 41,704,296 |
Weighted average common shares outstanding - diluted |  |  | 34,577,990 |  |  | 35,516,058 |  |  | 41,821,008 |  |  | 41,792,956 |
| (1) |  | Amounts may not total to annual loss because each quarter and year are calculated separately based on basic and diluted weighted-average common shares outstanding during that period.
| (2) |  | Amounts may not total to annual amounts for the years ended December 31, 2019 and 2018 as reported in the Consolidated Statements of Operations due to rounding.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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