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Selected Quarterly Financial Data (unaudited) (Tables)
12 Months Ended
Sep. 30, 2019
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information

Quarterly financial information for fiscal 2019 and 2018 is presented in the following table:

 

 

 

2019 Quarter Ended

 

 

 

December 31, 2018

 

 

March 31, 2019

 

 

June 30, 2019

 

 

September 30, 2019

 

 

 

(in thousands, except per share data)

 

Revenue

 

$

69,886

 

 

$

39,631

 

 

$

44,367

 

 

$

51,313

 

Operating expenses

 

 

42,030

 

 

 

40,935

 

 

 

40,612

 

 

 

44,882

 

Other income (expense), net

 

 

1,885

 

 

 

2,245

 

 

 

2,415

 

 

 

2,274

 

Income tax benefit (expense)

 

 

(3,730

)

 

 

3,204

 

 

 

866

 

 

 

486

 

Net income

 

 

26,011

 

 

 

4,145

 

 

 

7,036

 

 

 

9,191

 

Net income per common share — basic(2)

 

$

1.34

 

 

$

0.21

 

 

$

0.36

 

 

$

0.47

 

Net income per common share — diluted(2)

 

$

1.25

 

 

$

0.20

 

 

$

0.33

 

 

$

0.44

 

 

 

 

2018 Quarter Ended

 

 

 

December 31, 2017

 

 

March 31, 2018

 

 

June 30, 2018

 

 

September 30, 2018

 

 

 

(in thousands, except per share data)

 

Revenue (1)

 

$

38,109

 

 

$

44,049

 

 

$

57,262

 

 

$

67,205

 

Operating expenses

 

 

23,732

 

 

 

27,190

 

 

 

34,622

 

 

 

32,753

 

Other income (expense), net

 

 

960

 

 

 

1,066

 

 

 

1,338

 

 

 

1,429

 

Income tax (expense)

 

 

(3,644

)

 

 

(5,370

)

 

 

(3,690

)

 

 

(8,461

)

Net income

 

 

11,693

 

 

 

12,555

 

 

 

20,288

 

 

 

27,420

 

Net income per common share — basic(2)

 

$

0.61

 

 

$

0.65

 

 

$

1.05

 

 

$

1.41

 

Net income per common share — diluted(2)

 

$

0.59

 

 

$

0.61

 

 

$

0.97

 

 

$

1.30

 

 

(1)

During the first quarter of 2018, the Company recognized $15,000 in milestone revenue from AbbVie upon achievement of commercialization regulatory approval of AbbVie’s glecaprevir-containing regimen in Japan.

(2)

The earnings per share amounts for each quarter may not sum to the fiscal year amounts due to rounding and the effect of weighting.