Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2011

Quarterly Results of Operations (Unaudited)

Quarterly Results of Operations (Unaudited)

15. Quarterly Results of Operations (Unaudited)

        Quarterly financial information for the years ended December 31, 2011 and 2010 is summarized as follows (in thousands, except per share data):

	2011
	Q1			Q2			Q3(a)			Q4(a)
Revenue	$	282,059		$	312,148		$	328,113		$	317,700
Gross profit	$	34,209		$	47,510		$	49,108		$	50,625
Operating income (loss)	$	(8,328	)	$	5,601		$	(47,461	)	$	820
Income (loss) from continuing operations	$	(5,170	)	$	3,162		$	(36,569	)	$	2,085
Discontinued operations:
Operating loss, net of tax	$	—		$	—		$	—		$	—
Gain (loss) on disposition, net of tax	$	—		$	—		$	—		$	—
Net income (loss) including noncontrolling interests	$	(5,170	)	$	3,162		$	(36,569	)	$	2,085
Less: Net income attributable to noncontrolling interests	$	—		$	—		$	—		$	338
Net income (loss) attributable to Comfort Systems USA, Inc.	$	(5,170	)	$	3,162		$	(36,569	)	$	1,747
INCOME (LOSS) PER SHARE ATTRIBUTABLE TO COMFORT SYSTEMS USA, INC.:
Basic—
Income (loss) from continuing operations	$	(0.14	)	$	0.08		$	(0.98	)	$	0.05
Discontinued operations—
Loss from operations		—			—			—			—
Gain (loss) on disposition		—			—			—			—
Net income (loss)	$	(0.14	)	$	0.08		$	(0.98	)	$	0.05
Diluted—
Income (loss) from continuing operations	$	(0.14	)	$	0.08		$	(0.98	)	$	0.05
Discontinued operations—
Loss from operations		—			—			—			—
Gain (loss) on disposition		—			—			—			—
Net income (loss)	$	(0.14	)	$	0.08		$	(0.98	)	$	0.05
Net cash provided by (used in) operating activities	$	(19,066	)	$	(4,377	)	$	1,478		$	51,645

(a)

Included in income are goodwill and other intangible asset impairment charges of $55.1 million in the third quarter and $3.8 million in the fourth quarter of 2011.

	2010
	Q1			Q2(a)		Q3			Q4(a)
Revenue	$	236,475		$	249,588	$	307,648		$	314,571
Gross profit	$	39,508		$	41,965	$	50,309		$	56,900
Operating income (loss)	$	2,104		$	2,376	$	8,453		$	7,109
Income (loss) from continuing operations	$	1,165		$	1,646	$	5,410		$	5,796
Discontinued operations:
Operating loss, net of tax	$	—		$	—	$	—		$	—
Gain (loss) on disposition, net of tax	$	762		$	—	$	(39	)	$	—
Net income (loss) including noncontrolling interests	$	1,927		$	1,646	$	5,371		$	5,796
Less: Net income attributable to noncontrolling interests	$	—		$	—	$	—		$	—
Net income (loss) attributable to Comfort Systems USA, Inc.	$	1,927		$	1,646	$	5,371		$	5,796
INCOME (LOSS) PER SHARE ATTRIBUTABLE TO COMFORT SYSTEMS USA, INC.:
Basic—
Income (loss) from continuing operations	$	0.03		$	0.04	$	0.14		$	0.15
Discontinued operations—
Loss from operations		—			—		—			—
Gain (loss) on disposition		0.02			—		—			—
Net income (loss)	$	0.05		$	0.04	$	0.14		$	0.15
Diluted—
Income (loss) from continuing operations	$	0.03		$	0.04	$	0.14		$	0.15
Discontinued operations—
Loss from operations		—			—		—			—
Gain (loss) on disposition		0.02			—		—			—
Net income (loss)	$	0.05		$	0.04	$	0.14		$	0.15
Net cash provided by (used in) operating activities	$	(11,461	)	$	762	$	(3,772	)	$	46,620

(a)

Included in income are goodwill impairment charges of $4.4 million in the second quarter and $1.3 million in the fourth quarter of 2010.

        The sums of the individual quarterly earnings per share amounts do not necessarily agree with year-to-date earnings per share as each quarter's computation is based on the weighted average number of shares outstanding during the quarter, the weighted average stock price during the quarter and the dilutive effects of options and contingently issuable restricted stock in each quarter.