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QUARTERLY INFORMATION (UNAUDITED)
12 Months Ended
Dec. 31, 2011
QUARTERLY INFORMATION (UNAUDITED)  
QUARTERLY INFORMATION (UNAUDITED)

16. QUARTERLY INFORMATION (UNAUDITED)

        The following table summarizes the unaudited quarterly information for the years ended December 31, 2011 and 2010 for the Company and Reddy Corp. In the opinion of management, all adjustments necessary for a fair presentation of the unaudited results for the periods are included.

        The Company's unaudited quarterly information for the year ended December 31, 2011 and 2010:

 
  Three Months Ended  
 
  March 31,
2011
  June 30,
2011
  September 30,
2011
  December 31,
2011
 
 
  (in thousands, except per share amounts)
 

Revenues

  $ 40,752   $ 106,493   $ 126,330   $ 54,888  

Gross profit

    (4,181 )   32,245     40,711     2,976  

Net (loss) income

    (39,101 )   (1,946 )   4,892     (33,300 )

Basic net (loss) income per share

    (1.72 )   (0.09 )   0.21     (1.46 )

Diluted net (loss) income per share

    (1.72 )   (0.09 )   0.21     (1.46 )

 

 
  Three Months Ended  
 
  March 31,
2010
  June 30,
2010
  September 30,
2010
  December 31,
2010
 
 
  (in thousands, except per share amounts)
 

Revenues

  $ 35,894   $ 104,163   $ 120,147   $ 55,251  

Gross profit

    (4,328 )   36,407     42,683     3,345  

Net (loss) income

    (22,597 )   2,132     8,990     (29,014 )

Basic net (loss) income per share

    (1.01 )   0.09     0.39     (1.26 )

Diluted net (loss) income per share

    (1.01 )   0.09     0.39     (1.26 )

        The Company's financial results for the third and fourth quarters of 2011 include $2.0 million and $1.4 million impairment charges, respectively, of which approximately $1.9 million and $1.4 million relate to the correction of errors identified through our 2011 fixed assets inventory counts.

        The Company's financial results for the first and fourth quarters of 2010 include $6.1 million and $2.4 million, respectively, of costs incurred in connection with refinancing activities related to our debt. Included in financial results for the third quarter of 2010 is a $5.0 million settlement in respect of claimed cost reimbursements from one of our insurance carriers related to the antitrust investigations and related civil litigation, as well as $0.3 million gain on bargain purchase price recognized in connection with one of the Company's acquisitions. In addition, the fourth quarter of 2010 results reflect the correction of out of period errors within "Impairment of long-lived assets" and "Income tax benefit" of $9.8 million and $1.7 million as discussed in Note 17.

        Reddy Corp unaudited quarterly information for the year ended December 31, 2011 and 2010:

 
  Three Months Ended  
 
  March 31,
2011
  June 30,
2011
  September 30,
2011
  December 31,
2011
 
 
  (in thousands)
 

Revenues

  $ 40,752   $ 106,493   $ 126,330   $ 54,888  

Gross profit

    (4,181 )   32,245     40,711     2,976  

Net (loss) income

    (21,568 )   (923 )   3,288     (21,812 )

 

 
  Three Months Ended  
 
  March 31,
2010
  June 30,
2010
  September 30,
2010
  December 31,
2010
 
 
  (in thousands)
 

Revenues

  $ 35,894   $ 104,163   $ 120,147   $ 55,251  

Gross profit

    (4,328 )   36,407     42,683     3,345  

Net (loss) income

    (20,124 )   3,359     6,597     (22,333 )

        Reddy Corp financial results for the third and fourth quarters of 2011 include $2.0 million and $1.4 million impairment charges, respectively, of which approximately $1.9 million and $1.4 million relate to the correction of errors identified through our 2011 fixed assets inventory counts.

        Reddy Corp financial results for the first and fourth quarters of 2010 include $6.1 million and $2.4 million, respectively, of costs incurred in connection with refinancing activities related to our debt. In addition, the fourth quarter of 2010 results reflect the correction of out of period errors within "Impairment of long-lived assets" and "Income tax benefit" of $9.8 million and $1.7 million as discussed in Note 17.