The following tables contain selected unaudited statements of operations information for each quarter of 2019 and 2018. The following information reflects all normal recurring adjustments necessary for a fair presentation of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period.



	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
2019	(amounts in thousands, except per share data)
Revenue from services	$	195,171		$	202,757		$	209,200		$	215,096
Gross profit (a)	48,254			51,588			51,006			53,161
Consolidated net loss	(1,376		)	(51,270		)	(2,697		)	(600		)
Net loss attributable to common shareholders	(1,767		)	(51,674		)	(3,128		)	(1,144		)
Net loss per share attributable to common shareholders - Basic (b)	$	(0.05	)	$	(1.44	)	$	(0.09	)	$	(0.03	)
Net loss per share attributable to common shareholders - Diluted (b)	$	(0.05	)	$	(1.44	)	$	(0.09	)	$	(0.03	)



	First Quarter		Second Quarter		Third Quarter			Fourth Quarter
2018	(amounts in thousands, except per share data)
Revenue from services	$	210,288	$	204,572	$	200,717		$	200,907
Gross profit (a)	53,753		53,689		51,562			50,559
Consolidated net income (loss)	1,920		1,824		(118		)	(19,343		)
Net income (loss) attributable to common shareholders	1,642		1,539		(441		)	(19,691		)
Net income (loss) per share attributable to common shareholders - Basic (b)	$	0.05	$	0.04	$	(0.01	)	$	(0.55	)
Net income (loss) per share attributable to common shareholders - Diluted (b)	$	0.05	$	0.04	$	(0.01	)	$	(0.55	)

________________

(a) Excludes depreciation and amortization.

(b) The sum of the quarterly per share amounts may not equal amounts reported for year-to-date due to the effects of rounding and changes in the number of weighted average shares outstanding used in the calculation.

The following items are the most significant items that impact the comparability and presentation of our consolidated data:

•

During the second and third quarter of 2019, the Company recorded non-cash impairment charges of $14.5 million related to the trade names of Nurse and Allied Staffing, and $1.8 million related to ceasing use of certain leased properties, respectively. During the fourth quarter of 2018, the Company recorded non-cash impairment charges of $22.4 million related to the goodwill and trade names of Physician Staffing. See Note 5 - Goodwill, Trade Names, and Other Intangible Assets.

•

During the year ended December 31, 2019, the Company accelerated certain finite-lived trade names as part of a rebranding strategy. This resulted in additional amortization expense related to the Company's Nurse and Allied Staffing segment in the second and fourth quarters of $0.1 million and $2.0 million, respectively, and in the second and third quarters, $0.5 million and $0.3 million, respectively, related to the Physician Staffing segment.


•	During the second quarter of 2019, the Company recorded $1.6 million in legal settlement charges related to the resolution of a medical malpractice lawsuit and settlement of a wage and hour class action lawsuit.


•	During the fourth quarter of 2019, the Company wrote off debt issuance costs related to a reduction in borrowing capacity on its prior revolving credit facility and recognized a loss on early extinguishment of debt related to its refinancing of $1.5 million. See Note 8 - Debt.

•

The Company incurred applicant tracking system expenses related to its project to replace its legacy system supporting its travel nurse staffing business. In the third and fourth quarters of 2018, the Company recorded expenses of $0.2 million and $0.5 million, respectively. In the first quarter of 2019, the Company recorded expenses of $1.1 million, and recorded costs in each of the remaining three quarters of $0.3 million.


•	On December 1, 2018, the Company acquired AP Staffing, which was accounted for in accordance with the Business Combinations Topic of the FASB ASC, using the acquisition method. The results of the acquisition's operations have been included in the consolidated statements of operations from its date of acquisition. See Note 4 - Acquisitions.


•	Income tax expense recorded in the second quarter of 2019 includes $35.8 million of expense related to the establishment of valuation allowances on the Company's deferred tax assets. See Note 14 - Income Taxes.


•	The Company terminated an interest rate hedge related to its Term Loan, recording a loss in the third quarter of 2019 of $1.3 million. See Note 9 - Derivatives.