XML 80 R23.htm IDEA: XBRL DOCUMENT v2.4.1.9
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
12 Months Ended
Dec. 31, 2014
Selected Quarterly Financial Information [Abstract]  
Selected Quarterly Financial Data (Unaudited)
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

A summary of unaudited quarterly financial information for the years ended December 31, 2014 and 2013 is as follows (in thousands except per share data):
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
Year ended December 31, 2014
 
 
 
 
 
 
 
Revenue
$
239,293

 
$
247,125

 
$
243,959

 
$
253,678

Gross profit
$
65,100

 
$
65,356

 
$
65,002

 
$
65,608

Loss from continuing operations, before income taxes
$
(21,765
)
 
$
(15,548
)
 
$
(35,645
)
 
$
(59,033
)
Net loss from discontinued operations, net of income taxes
$
(58
)
 
$
(1,207
)
 
$
(1,135
)
 
$
(1,686
)
Net loss
$
(25,314
)
 
$
(19,818
)
 
$
(38,710
)
 
$
(63,626
)
 
 
 
 
 
 
 
 
Loss per share from continuing operations, basic and diluted
$
(0.37
)
 
$
(0.27
)
 
$
(0.55
)
 
$
(0.90
)
Loss per share from discontinued operations, basic and diluted

 
(0.02
)
 
(0.02
)
 
(0.02
)
Loss per share, basic and diluted
$
(0.37
)
 
$
(0.29
)
 
$
(0.57
)
 
$
(0.92
)
 
 
 
 
 
 
 
 
Year ended December 31, 2013
 

 
 

 
 

 
 

Revenue
$
181,020

 
$
172,323

 
$
190,631

 
$
225,484

Gross profit
$
55,987

 
$
57,775

 
$
61,655

 
$
68,196

Loss from continuing operations, before income taxes
$
(8,538
)
 
$
(9,150
)
 
$
(23,769
)
 
$
(13,011
)
Net income (loss) from discontinued operations, net of income taxes
$
235

 
$
416

 
$
(10,331
)
 
$
(2,983
)
Net loss
$
(8,128
)
 
$
(8,880
)
 
$
(34,087
)
 
$
(18,559
)
 
 
 
 
 
 
 
 
Loss per share from continuing operations, basic and diluted
$
(0.15
)
 
$
(0.14
)
 
$
(0.37
)
 
$
(0.23
)
Income (loss) per share from discontinued operations, basic and diluted
0.01

 

 
(0.16
)
 
(0.04
)
Loss per share, basic and diluted
$
(0.14
)
 
$
(0.14
)
 
$
(0.53
)
 
$
(0.27
)

With the sale of the Home Health Services segment on March 31, 2014 (see Note 5 - Discontinued Operations), all prior period financial statements have been reclassified to include the Home Health Services segment as discontinued operations. In addition, the Company decided in the second quarter of 2014 to cease the material portion of its Home Health operations at the one location excluded from the Stock Purchase Agreement, as amended. As a result, the Unaudited Consolidated Statements of Operations previously reported by the Company as of March 31, 2014 have been reclassified to include this Home Health location in discontinued operations. The effect of this reclassification reduced total revenue by $0.4 million to $239.3 million and reduced loss from continuing operations, net of income taxes by $0.2 million to $25.3 million for the three months ended March 31, 2014. The reclassification had no effect on previously reported net loss or net loss per common share for the three months ended March 31, 2014.

Company recognized a partial extinguishment of debt and wrote off approximately $2.4 million f deferred financing costs during the three months ended December 31, 2014.  The expense related to early repayment of the Senior Credit Facilities from the net proceeds of the sale of the Home Health Business on March 31, 2014.  The Company also recognized $1.1 million of income tax expense during the three months ended December 31, 2014 that related to prior years.  The tax adjustment was related to estimated state tax rates applied the years ended December 31, 2010 through 2013.  The effect of the adjustments was not material to prior and current periods.