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Quarterly Results of Operations (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2012
Unaudited Quarterly Results of Operations

The following is the summary of the unaudited quarterly results of operations for the two years ended December 31, 2012 and 2011, in thousands.

 

     Three Months Ended      Year Ended
December 31,
2012
 
     March 31,
2012
     June 30,
2012
     September 30,
2012 (1)
     December 31,
2012
    

Revenue

   $ 639,062       $ 661,895       $ 656,896       $ 680,171       $ 2,638,024   

Cost of services

     291,702         307,286         307,699         317,772         1,224,459   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Gross Profit

     347,360         354,609         349,197         362,399         1,413,565   

SG&A

     233,118         233,110         231,905         237,257         935,390   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Operating income

     114,242         121,499         117,292         125,142         478,175   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Net income

   $ 34,044       $ 36,694       $ 22,096       $ 32,707       $ 125,541   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

     Three Months Ended      Year Ended
December 31,
2011
 
     March 31,
2011
     June 30,
2011
     September 30,
2011
     December 31,
2011(2)
    

Revenue

   $ 610,818       $ 622,820       $ 632,803       $ 624,884       $ 2,491,325   

Cost of services

     271,603         276,220         284,406         281,060         1,113,289   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Gross Profit

     339,215         346,600         348,397         343,824         1,378,036   

SG&A

     220,408         223,849         216,450         249,201         909,908   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Operating income

     118,807         122,751         131,947         94,623         468,128   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Net income

   $ 34,580       $ 34,378       $ 37,347       $ 21,188       $ 127,493   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) Results of operations in the third quarter of 2012 were affected by a pre-tax $10.0 million expense associated with the dividend equivalent attributed to participants in our Deferred Compensation Plan, $8.3 million of additional share based compensation associated with the dividend and $10.3 million of additional interest expense incurred with the refinancing for the additional borrowings of approximately $521.6 million due to the dividends declared and dividend equivalents paid in August 2012.
(2) Results of operations in the fourth quarter of 2011 were affected by a pre-tax $18.5 million share based compensation expense for the modification of vesting criteria of restricted stock grants. $12.1 million was not deductible for tax purposes.