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Selected Consolidated Quarterly Financial Data (Unaudited) (Tables)
12 Months Ended
Sep. 30, 2019
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Selected Consolidated Financial Information

The following table sets forth certain unaudited selected consolidated financial information for each of the four quarters in the years ended September 30, 2019, 2018 and 2017. In management's opinion, this unaudited consolidated quarterly selected information has been prepared on the same basis as the audited consolidated financial statements and includes all necessary adjustments, consisting only of normal recurring adjustments, which management considers necessary for a fair presentation when read in conjunction with the Consolidated Financial Statements and notes. We believe these comparisons of consolidated quarterly selected financial data are not necessarily indicative of future performance.

Quarterly EPS may not total to the fiscal year EPS due to the weighted average number of shares outstanding at the end of each period reported and rounding.

 

 

 

12/31/2018

 

 

3/31/2019

 

 

6/30/2019

 

 

9/30/2019

 

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

 

(in thousands, except per share data)

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract revenue

 

$

170,449

 

 

$

169,771

 

 

$

170,366

 

 

$

172,248

 

Total operating revenues

 

 

178,156

 

 

 

177,147

 

 

 

180,224

 

 

 

187,830

 

Operating income

 

 

39,230

 

 

 

34,377

 

 

 

17,077

 

 

 

30,453

 

Net income (loss)

 

 

19,081

 

 

 

13,249

 

 

 

3,007

 

 

 

12,243

 

Net (loss) income per share attributable to

   common shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

0.55

 

 

 

0.38

 

 

 

0.09

 

 

 

0.35

 

Diluted

 

 

0.54

 

 

 

0.38

 

 

 

0.09

 

 

 

0.35

 

 

 

 

12/31/2017

 

 

3/31/2018

 

 

6/30/2018

 

 

9/30/2018

 

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

 

(in thousands, except per share data)

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract revenue

 

$

154,389

 

 

$

156,515

 

 

$

159,916

 

 

$

168,444

 

Total operating revenues

 

 

164,684

 

 

 

167,640

 

 

 

171,739

 

 

 

177,532

 

Operating income

 

 

15,023

 

 

 

16,349

 

 

 

(508

)

 

 

41,784

 

Net income (loss)

 

 

22,624

 

 

 

2,372

 

 

 

(11,135

)

 

 

19,394

 

Net (loss) income per share attributable to

   common shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

0.97

 

 

 

0.10

 

 

 

(0.48

)

 

 

0.66

 

Diluted

 

 

0.96

 

 

 

0.10

 

 

 

(0.48

)

 

 

0.65

 

 

 

 

12/31/2016

 

 

3/31/2017

 

 

6/30/2017

 

 

9/30/2017

 

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

 

(in thousands, except per share data)

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract revenue

 

$

155,502

 

 

$

154,210

 

 

$

157,411

 

 

$

151,575

 

Total operating revenues

 

 

160,235

 

 

 

159,096

 

 

 

166,952

 

 

 

157,293

 

Operating income

 

 

20,838

 

 

 

20,405

 

 

 

36,360

 

 

 

22,691

 

Net income

 

 

6,610

 

 

 

5,304

 

 

 

15,432

 

 

 

5,482

 

Net (loss) income per share attributable to

   common shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

0.28

 

 

 

0.23

 

 

 

0.67

 

 

 

0.24

 

Diluted

 

 

0.28

 

 

 

0.23

 

 

 

0.66

 

 

 

0.24

 

 

Summary of Basic and Diluted Net Income per Common Share Available to Common Shareholders

The restatement adjustment did not impact our previously reported consolidated balance sheet, consolidated statements of stockholders' equity, consolidated statements of cash flows, or net income (in thousands, except per share data).

 

 

 

Twelve Months Ended September 30, 2018

 

 

 

As Previously

Reported

 

 

As Restated

 

Net income per common share available to

   common shareholders - Basic

 

$

2.46

 

 

$

1.34

 

Shares used in computing net income per common

   share available to common shareholders - Basic

 

 

13,516

 

 

 

24,826

 

Net income per common share available to

   common shareholders - Diluted

 

$

1.32

 

 

$

1.32

 

Shares used in computing net income per common

   share available to common shareholders - Diluted

 

 

25,171

 

 

 

25,257

 

 

 

 

Twelve Months Ended September 30, 2017

 

 

 

As Previously

Reported

 

 

As Restated

 

Net income per common share available to

   common shareholders - Basic

 

$

3.01

 

 

$

1.41

 

Shares used in computing net income per common

   share available to common shareholders - Basic

 

 

10,919

 

 

 

23,201

 

Net income per common share available to

   common shareholders - Diluted

 

$

1.40

 

 

$

1.40

 

Shares used in computing net income per common

   share available to common shareholders - Diluted

 

 

23,386

 

 

 

23,370

 

 

The restatement adjustment did not impact our previously reported consolidated balance sheet, consolidated statements of stockholders' equity, consolidated statements of cash flows, or net income (in thousands, except per share data).

 

 

 

Three Months Ended

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As

Previously

Reported

 

 

As

Restated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per share

   attributable to common

   shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.80

 

 

$

0.55

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

$

0.55

 

 

$

0.54

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

December 31, 2017

 

 

Three Months Ended

March 31, 2018

 

 

Three Months Ended

June 30, 2018

 

 

Three Months Ended

September 30, 2018

 

 

 

As

Previously

Reported

 

 

As

Restated

 

 

As

Previously

Reported

 

 

As

Restated

 

 

As

Previously

Reported

 

 

As

Restated

 

 

As

Previously

Reported

 

 

As

Restated

 

Net income (loss) per share

   attributable to common

   shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

2.00

 

 

$

0.97

 

 

$

0.20

 

 

$

0.10

 

 

$

(0.89

)

 

$

(0.48

)

 

$

1.04

 

 

$

0.66

 

Diluted

 

$

0.96

 

 

$

0.96

 

 

$

0.10

 

 

$

0.10

 

 

$

(0.89

)

 

$

(0.48

)

 

$

0.65

 

 

$

0.65

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

December 31, 2016

 

 

Three Months Ended

March 31, 2017

 

 

Three Months Ended

June 30, 2017

 

 

Three Months Ended

September 30, 2017

 

 

 

As

Previously

Reported

 

 

As

Restated

 

 

As

Previously

Reported

 

 

As

Restated

 

 

As

Previously

Reported

 

 

As

Restated

 

 

As

Previously

Reported

 

 

As

Restated

 

Net income per share

   attributable to common

   shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.62

 

 

$

0.28

 

 

$

0.48

 

 

$

0.23

 

 

$

1.40

 

 

$

0.67

 

 

$

0.49

 

 

$

0.24

 

Diluted

 

$

0.28

 

 

$

0.28

 

 

$

0.23

 

 

$

0.23

 

 

$

0.66

 

 

$

0.66

 

 

$

0.23

 

 

$

0.24