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Unaudited Quarterly Consolidated Financial Information
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Unaudited Quarterly Consolidated Financial Information
UNAUDITED QUARTERLY CONSOLIDATED FINANCIAL INFORMATION

 
For the Quarter Ended
 
March 31, 2017
 
June 30, 2017
 
September 30, 2017
 
December 31, 2017
 
(in thousands, except per share data)
Revenues
$
267,907

 
$
313,221

 
$
243,273

 
$
199,112

Gross profit
133,584

 
169,807

 
123,463

 
90,367

Income (loss) from operations
15,582

 
29,446

 
2,685

 
(30,377
)
Net income (loss)
11,010

 
21,960

 
1,629

 
(24,361
)
Net income (loss) attributable to common shareholders
7,155

 
18,086

 
(2,263
)
 
(28,272
)
Basic income (loss) per common share
$
0.08

 
$
0.21

 
$
(0.03
)
 
$
(0.41
)
Diluted income (loss) per common share
$
0.08

 
$
0.20

 
$
(0.03
)
 
$
(0.41
)
 
For the Quarter Ended
 
March 31, 2016
 
June 30, 2016
 
September 30, 2016
 
December 31, 2016
 
(in thousands, except per share data)
Revenues
$
279,140

 
$
323,828

 
$
245,888

 
$
187,417

Gross profit
129,366

 
169,640

 
122,434

 
78,724

Income (loss) from operations
14,243

 
20,605

 
(1,215
)
 
(39,787
)
Net income (loss)
10,146

 
15,537

 
(1,533
)
 
(40,644
)
Net income (loss) attributable to common shareholders
6,361

 
11,735

 
(5,352
)
 
(44,482
)
Basic income (loss) per common share
$
0.07

 
$
0.13

 
$
(0.07
)
 
$
(0.60
)
Diluted income (loss) per common share
$
0.07

 
$
0.13

 
$
(0.07
)
 
$
(0.60
)


During the three months ended December 31, 2017, we identified the following factors affecting the comparability of information between periods:

•
Due to the seasonal nature of our products, we experience decreased revenues in the fourth quarter of the year relative to the other quarters.
•
Income from operations for the quarter ended December 31, 2017 improved by $9.4 million compared to the fourth quarter of 2016, primarily driven by higher revenues, partially offset by additional charges of $6.3 million related to a noncash write-off and contract termination fee for a discontinued project.

During the three months ended December 31, 2016 we identified the following factors affecting the comparability of information between periods:

•
Due to the seasonal nature of our products, we experience decreased revenues in the fourth quarter relative to the other quarters. For the quarter ended December 31, 2016 revenue decreased 10.2% as compared to the same quarter of the prior year which was primarily driven by a decrease in sales in the Wholesale and Retail segments.
•
Income from operations for the quarter ended June 30, 2016 was negatively impacted by an increase of $18.3 million in marketing expense related to the Spring/Summer line advertising campaigns. ‘Selling, general and administrative’ expenses, otherwise, remained relatively constant across the quarters, with some fluctuation between periods in relation to contingent rent expense that is driven by sales.