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QUARTERLY FINANCIAL DATA
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Data [Abstract]  
QUARTERLY FINANCIAL DATA
12. QUARTERLY FINANCIAL DATA (unaudited)
 
The following table presents unaudited quarterly consolidated operating results for each of our last eight fiscal quarters. The information below has been prepared on a basis consistent with our audited consolidated financial statements.
 
 
 
2016 Quarters (unaudited)
 
(in thousands, except per share data)
 
First
 
Second
 
Third
 
Fourth
 
Net revenues
 
$
20,555
 
$
31,337
 
$
38,525
 
$
38,205
 
Total operating expenses
 
 
14,889
 
 
26,143
 
 
30,604
 
 
36,907
 
Operating income
 
 
5,666
 
 
5,194
 
 
7,921
 
 
1,298
 
Net income/(loss)
 
$
1,346
 
$
1,125
 
$
2,543
 
$
(1,080)
 
Basic and diluted earnings/(loss) per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic earnings/(loss) per share
 
$
0.12
 
$
0.10
 
$
0.22
 
$
(0.09)
 
Diluted earnings/(loss) per share
 
$
0.12
 
$
0.10
 
$
0.22
 
$
(0.09)
 
 
 
 
2015 Quarters (unaudited)
 
(in thousands, except per share data)
 
First
 
Second
 
Third
 
Fourth
 
Net revenues
 
$
18,799
 
$
19,516
 
$
19,972
 
$
18,035
 
Total operating expenses
 
 
9,232
 
 
11,102
 
 
11,521
 
 
11,767
 
Operating income
 
 
9,567
 
 
8,414
 
 
8,451
 
 
6,268
 
Net income
 
$
4,369
 
$
3,571
 
$
4,559
 
$
2,876
 
Basic and diluted earnings per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic earnings per share
 
$
0.38
 
$
0.31
 
$
0.40
 
$
0.25
 
Diluted earnings per share
 
$
0.38
 
$
0.31
 
$
0.39
 
$
0.25