| Selected Quarterly Data (Unaudited) |
Selected Quarterly Data (Unaudited)
The following table shows selected quarterly data for 2018 and 2017, in thousands, except earnings per share.
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2018 Quarters |
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1st |
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2nd |
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3rd |
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4th |
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Revenues |
$ |
176,897 |
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$ |
170,394 |
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$ |
168,931 |
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$ |
180,996 |
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Costs and operating expenses |
$ |
165,304 |
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$ |
156,539 |
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$ |
154,934 |
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$ |
167,911 |
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Operating income (1)
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$ |
11,593 |
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$ |
13,855 |
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$ |
15,697 |
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$ |
13,085 |
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Net income
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$ |
7,052 |
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$ |
8,751 |
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$ |
10,034 |
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$ |
9,243 |
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Basic earnings per share: |
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Net income
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$ |
0.65 |
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$ |
0.80 |
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$ |
0.92 |
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$ |
0.85 |
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Basic weighted average shares outstanding |
10,861 |
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10,881 |
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10,881 |
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10,882 |
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Diluted earnings per share: |
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Net income
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$ |
0.65 |
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$ |
0.80 |
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$ |
0.92 |
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$ |
0.84 |
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Diluted weighted average shares outstanding |
10,897 |
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10,919 |
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10,935 |
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10,993 |
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(1) Operating income for the third quarter of 2018 includes a $1.7 million gain from the sale of a contract.
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2017 Quarters |
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1st |
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2nd |
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3rd |
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4th |
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Revenues |
$ |
197,294 |
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$ |
193,860 |
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$ |
174,164 |
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$ |
194,795 |
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Costs and operating expenses |
$ |
183,098 |
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$ |
178,855 |
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$ |
161,927 |
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$ |
181,908 |
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Operating income |
$ |
14,196 |
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$ |
15,005 |
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$ |
12,237 |
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$ |
12,887 |
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Net income (1)
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$ |
7,293 |
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$ |
7,807 |
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$ |
6,639 |
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$ |
17,357 |
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Basic earnings per share: |
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Net income (1)
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$ |
0.67 |
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$ |
0.72 |
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$ |
0.61 |
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$ |
1.60 |
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Basic weighted average shares outstanding |
10,823 |
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10,838 |
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10,838 |
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10,838 |
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Diluted earnings per share: |
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Net income (1)
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$ |
0.67 |
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$ |
0.72 |
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$ |
0.61 |
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$ |
1.59 |
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Diluted weighted average shares outstanding |
10,849 |
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10,862 |
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10,857 |
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10,903 |
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(1) For the fourth quarter of 2017 net income and basic and diluted earnings per share were affected by the Tax Cuts and Jobs Act. See Note 10 "Income Taxes" for additional information.
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