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Quarterly Results of Operations (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Unaudited Quarterly Results of Operations

The following is the summary of the unaudited quarterly results of operations for the two years ended December 31, 2015 and 2014, in thousands.

 

     Three Months Ended      Year Ended
December 31,
2015
 
     March 31,
2015 (1)
     June 30,
2015
     September 30,
2015
    December 31,
2015  (2)
    

Revenue

   $ 565,490       $ 571,891       $ 574,448      $ 568,430       $ 2,280,259   

Cost of services

     239,701         245,266         246,337        239,389         970,693   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Gross profit

     325,789         326,625         328,111        329,041         1,309,566   

SG&A

     215,096         210,192         203,757        224,071         853,116   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Operating income

     110,693         116,433         124,354        104,970         456,450   

Income from continuing operations

     48,634         49,223         50,719        42,340         190,916   

Income (loss) from discontinued operations

     31,866         358         (1,235     19,935         50,924   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Net income

   $ 80,500       $ 49,581       $ 49,484      $ 62,275       $ 241,840   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Diluted earnings per common share:

             

Continuing operations

   $ 0.56       $ 0.58       $ 0.60      $ 0.50       $ 2.24   

Discontinued operations

     0.37         0.00         (0.01     0.24         0.59   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Diluted earnings per common share:

   $ 0.93       $ 0.58       $ 0.58   $ 0.74       $ 2.83   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

 

     Three Months Ended      Year Ended
December 31,
2014
 
     March 31,
2014
     June 30,
2014
     September 30,
2014 (3)
     December 31,
2014 (4)
    

Revenue

   $ 535,140       $ 552,319       $ 568,197       $ 562,938       $ 2,218,594   

Cost of services

     225,511         239,695         243,706         234,419         943,331   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Gross profit

     309,629         312,624         324,491         328,519         1,275,263   

SG&A

     195,439         197,063         209,545         211,809         813,856   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Operating income

     114,190         115,561         114,946         116,710         461,407   

Income from continuing operations

     42,097         44,527         13,103         34,884         134,611   

Income from discontinued operations

     4,181         3,232         3,007         13,374         23,794   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Net income

   $ 46,278       $ 47,759       $ 16,110       $ 48,258       $ 158,405   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Diluted earnings per common share:

              

Continuing operations

   $ 0.49       $ 0.52       $ 0.15       $ 0.41       $ 1.57   

Discontinued operations

     0.05         0.04         0.04         0.15         0.28   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Diluted earnings per common share:

   $ 0.54       $ 0.56       $ 0.19       $ 0.56       $ 1.85   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) Income from discontinued operations in the first quarter of 2015 includes operating results of the divested entities up to the date of sale and the preliminary gain on the sale of the divested entities.
(2) Income from discontinued operations in the fourth quarter of 2015 includes the finalization of the gain on sale of the divested entities.
(3) Net income in the third quarter of 2014 was affected by the debt call premium and accelerated amortization of deferred financing costs which had a $34.9 million negative impact on net income.
(4) Net income in the fourth quarter of 2014 was affected by the debt call premium and accelerated amortization of deferred financing costs which had an $18.8 million negative impact on net income.
* Third quarter 2015 diluted earnings per common share does not foot due to rounding.