XML 77 R22.htm IDEA: XBRL DOCUMENT v3.20.1
Summary Selected Quarterly Financial Data (unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Summary Selected Quarterly Financial Data (Unaudited)

Note 14 - Summary Selected Quarterly Financial Data (unaudited)

The following is a summary of selected unaudited consolidated quarterly financial data for the years ended December 31, 2019 and 2018 (in thousands, except per share data). On January 3, 2019, the Company acquired SiriusDecisions, Inc. The quarterly reported results for 2019 include the operating results of SiriusDecisions beginning as of the acquisition date, which impacts the comparability to the 2018 quarterly reported results in the table below. Refer to Note 2 – Acquisitions for additional information.

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,

 

 

 

2019

 

 

2019

 

 

2019

 

 

2019

 

Total revenues

 

$

100,649

 

 

$

128,183

 

 

$

108,596

 

 

$

124,269

 

Income (loss) from operations

 

$

(10,884

)

 

$

4,622

 

 

$

(1,640

)

 

$

6,827

 

Net income (loss)

 

$

(13,316

)

 

$

1,555

 

 

$

(2,699

)

 

$

4,890

 

Basic income (loss) per common share

 

$

(0.73

)

 

$

0.08

 

 

$

(0.15

)

 

$

0.26

 

Diluted income (loss) per common share

 

$

(0.73

)

 

$

0.08

 

 

$

(0.15

)

 

$

0.26

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,

 

 

 

2018

 

 

2018

 

 

2018

 

 

2018

 

Total revenues

 

$

77,749

 

 

$

96,353

 

 

$

84,890

 

 

$

98,583

 

Income (loss) from operations

 

$

(2,288

)

 

$

11,027

 

 

$

4,942

 

 

$

8,744

 

Net income (loss)

 

$

(1,733

)

 

$

7,788

 

 

$

3,950

 

 

$

5,375

 

Basic income (loss) per common share

 

$

(0.10

)

 

$

0.43

 

 

$

0.22

 

 

$

0.29

 

Diluted income (loss) per common share

 

$

(0.10

)

 

$

0.43

 

 

$

0.21

 

 

$

0.29

 

 

Out of Period Adjustment

During the quarter ended June 30, 2018, the Company recorded $1.0 million of revenue ($0.7 million after tax) for an out-of-period correction within research services in the Consolidated Statements of Income (Loss). The error resulted from an understatement of revenue from the reprint product line of $0.8 million ($0.5 million after tax) during the three months ended March 31, 2018 and $0.2 million ($0.1 million after tax) from the year ended December 31, 2017. The Company has concluded that the error was not material to all annual financial statement periods presented.