| Selected Quarterly Financial Information |
17. SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
Our unaudited quarterly results for years ended December 31, 2017 and 2016 were prepared in accordance with GAAP, and reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results. These adjustments are of a normal recurring nature. Quarterly income per share is based on the weighted average number of shares outstanding during the quarter. Because of changes in the number of shares outstanding during the quarters due to the exercise of stock options and issuance of common stock, the sum of quarterly earnings per share may not equal earnings per share for the year.
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Three Months Ended
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March 31,
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June 30,
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September 30,
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December 31,
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(in thousands of dollars except per share information)
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2017:
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Total revenues
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$
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21,266
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$
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20,425
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$
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18,178
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$
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17,156
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Total operating costs and expenses
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13,055
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15,068
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14,454
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14,413
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Operating income (loss)
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8,148
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5,587
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3,721
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2,495
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Income (loss) from continuing operations
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4,435
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2,451
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(148)
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3,534
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Loss from discontinued operations
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(176)
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(168)
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(174)
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(103)
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Net income (loss)
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4,259
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2,283
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(322)
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3,431
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Basis net income (loss) per share
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$
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0.07
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$
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0.04
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$
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(0.01)
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$
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0.06
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Diluted net income (loss) per share
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$
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0.07
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$
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0.04
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$
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(0.01)
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$
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0.06
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Three Months Ended
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March 31,
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June 30,
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September 30,
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December 31,
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(in thousands of dollars except per share information)
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2016:
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Total revenues
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$
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10,976
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$
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18,847
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$
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14,635
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$
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15,326
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Total operating costs and expenses
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24,509
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14,232
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10,919
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14,249
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Operating income (loss)
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(13,515)
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4,615
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3,690
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819
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Income (loss) from continuing operations
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(15,430)
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(498)
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1,016
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(3,355)
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Loss from discontinued operations
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7,806
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(20)
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(15,783)
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(286)
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Net income (loss)
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(7,624)
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(518)
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(14,767)
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(3,641)
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Basis net income (loss) per share
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$
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(0.13)
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$
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(0.01)
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$
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(0.25)
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$
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(0.06)
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Diluted net income (loss) per share
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$
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(0.13)
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$
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(0.01)
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$
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(0.25)
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$
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(0.06)
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