NOTE

— QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

	Three Months Ended
	Mar. 31, 2016			June 30, 2016			Sept. 30, 2016			Dec. 31, 2016			Mar. 31, 2017			June 30, 2017			Sept. 30, 2017			Dec. 31, 2017
																(As restated)			(As restated)			(As restated)
	(Dollars in thousands, except per share amounts)
Revenues:
Electricity	$	107,868		$	104,001		$	109,795		$	114,628		$	115,776		$	111,777		$	112,273		$	128,503
Product		43,726			55,860			74,822			51,891			74,122			67,587			44,912			37,862
Total revenues		151,594			159,861			184,617			166,519			189,898			179,364			157,185			166,365
Cost of revenues:
Electricity		63,686			62,243			66,481			69,163			66,036			65,439			65,774			75,017
Product		24,035			31,822			43,647			30,719			49,452			43,432			32,218			26,992
Total cost of revenues		87,721			94,065			110,128			99,882			115,488			108,871			97,992			102,009
Gross margin		63,873			65,796			74,489			66,637			74,410			70,493			59,193			64,356
Operating expenses:
Research and development expenses		349			595			1,086			732			602			1,050			716			789
Selling and marketing expenses		3,675			3,668			4,793			4,288			4,363			4,090			3,630			3,517
General and administrative expenses		8,749			8,783			19,093			10,085			9,949			12,201			10,877			9,854
Write-off of unsuccessful exploration activities		557			863			1,294			303			--			--			--			1,796
Operating income		50,543			51,887			48,223			51,229			59,496			53,152			43,970			48,400
Other income (expense):
Interest income		320			245			266			140			244			362			255			127
Interest expense, net		(16,023	)		(18,401	)		(17,137	)		(15,828	)		(14,923	)		(14,540	)		(11,692	)		(12,987	)
Derivatives and foreign currency transaction gains (losses)		1,962			(4,332	)		(222	)		(2,942	)		1,338			1,703			(1,001	)		614
Income attributable to sale of tax benefits		4,398			4,519			3,463			4,123			6,157			4,356			3,506			3,859
Other non-operating income (expense), net		191			49			(5,546	)		(39	)		(92	)		6			(1,592	)		12
Income (loss) from continuing operations, before income taxes and equity in income (losses) of investees		41,391			33,967			29,047			36,683			52,220			45,039			33,446			40,025
Income tax benefit (provision)		(9,079	)		(8,515	)		(12,109	)		(7,356	)		(11,004	)		(32,765	)		(6,224	)		28,329
Equity in income (losses) of investees		(937	)		(1,144	)		(2,653	)		(3,001	)		(1,599	)		(428	)		337			(267	)
Net income (loss)		31,375			24,308			14,285			26,326			39,617			11,846			27,559			68,087
Net loss (income) attributable to noncontrolling interest		(1,674	)		(584	)		(2,326	)		(3,002	)		(4,423	)		(3,206	)		(3,599	)		(3,467	)
Net income (loss) attributable to the Company's stockholders	$	29,701		$	23,724		$	11,959		$	23,324		$	35,194		$	8,640		$	23,960		$	64,620

Earnings (loss) per share attributable to the Company's stockholders

Basic:
Net income	$	0.60		$	0.48		$	0.24		$	0.47		$	0.71		$	0.17		$	0.48		$	1.28

Diluted:
Net income	$	0.60		$	0.47		$	0.24		$	0.46		$	0.70		$	0.17		$	0.47		$	1.27

Weighted average number of shares used in computation of earnings per share attributable to the Company's stockholders:
Basic		49,173			49,456			49,599			49,647			49,680			49,771			50,367			50,607
Diluted		49,782			50,137			50,289			50,293			50,491			50,624			50,867			51,053

As further discussed in Note

the Company has restated its previously issued consolidated financial statements as of and for the year ended

December 31, 2017

to correct for errors in its previously issued

2017

consolidated financial statements primarily relating to the Company’s ability to utilize Federal tax credits in the U.S. prior to their expiration starting in

2027

and the resulting impact on the Company’s deferred tax asset valuation allowance, and the inappropriate netting of certain deferred income tax assets and liabilities across different tax jurisdictions, which was

not

permissible under U.S. generally accepted accounting principles. In addition, there were other immaterial prior period errors, including an out-of-period adjustment that had been previously recorded for the correction of an understated liability for unrecognized tax benefits related to intercompany interest. In addition, the Company also concluded that it would revise its previously issued consolidated financial statements as of and for the year ended

December 31, 2016

and for the year ended

December 31, 2015

to correct for certain other tax errors, including a prior period error related to the translation of deferred tax liabilities in the Company’s Kenyan subsidiary, which were previously determined to be immaterial and which had previously been corrected for as out-of-period adjustments in the period of identification.

These error corrections also resulted in the restatement, for

2017

and revision, for

2016,

of the Company’s previously issued unaudited condensed consolidated financial statements for the

three

and

six

months ended

June 30, 2017

and

2016

and the

three

and

nine

months ended

September 30, 2017

and

2016

which restatements and revisions have been effected through the Company’s filing of amended Form

-Q’s. The revision of the Company’s previously issued unaudited condensed consolidated financial statements for the

three

months ended

March 31, 2017

will be effected in connection with the Company’s filing of its Form

-Q for the quarter ended

March 31, 2018.

The impact of the restatement and revision of these unaudited periods, along with the restatement of the financial results for the

three

months ended

December 31, 2017

and the revision of the financial results for the

three

months ended

December 31, 2016,

have been reflected within the table above. The restated condensed consolidated financial statements for the

three

months ended

December 31, 2017

reflect a

$1.3

million decrease in the income tax benefit, with a corresponding decrease in net income. In addition, the revised condensed consolidated financial statements for the

three

months ended

December 31, 2016

reflect a

$4.9

million increase in the tax provision, with a corresponding reduction to net income.