XML 42 R25.htm IDEA: XBRL DOCUMENT v3.6.0.2
Financial Results by Quarter (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Data [Abstract]  
Financial Results by Quarter (Unaudited)

NOTE 16.  FINANCIAL RESULTS BY QUARTER (UNAUDITED)

 

 

 

Three Months Ended

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

(Dollars in thousands, except per share amounts)

 

2016

 

 

2015

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Revenues

 

$

127,896

 

 

$

134,125

 

 

$

141,495

 

 

$

128,747

 

 

$

174,027

 

 

$

174,475

 

 

$

155,681

 

 

$

137,989

 

Operating income (loss)

 

$

5,072

 

 

$

14,027

 

 

$

(34,228

)

 

$

7,311

 

 

$

38,994

 

 

$

27,714

 

 

$

25,716

 

 

$

9,855

 

Net income (loss)

 

$

157

 

 

$

5,656

 

 

$

(31,238

)

 

$

711

 

 

$

27,646

 

 

$

21,798

 

 

$

14,373

 

 

$

3,549

 

Net income (loss) per share1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

—

 

 

$

0.14

 

 

$

(0.77

)

 

$

0.02

 

 

$

0.68

 

 

$

0.53

 

 

$

0.35

 

 

$

0.09

 

Diluted

 

$

—

 

 

$

0.14

 

 

$

(0.77

)

 

$

0.02

 

 

$

0.68

 

 

$

0.53

 

 

$

0.35

 

 

$

0.09

 

 

1

Per share amounts are computed independently for each of the quarters presented. Therefore, the sum of the quarterly per share amounts may not equal the total computed for the year.

 

As disclosed in Note 1: Summary of Significant Accounting Policies, we’ve historically included cash equivalents within short-term investments. During the fourth quarter of 2016, certain short-term investment balances, which are highly liquid and have maturities of three months or less, have now been reclassified as cash equivalents.  

The adjustments made to the financial statements reported at interim periods during 2016 are as follows:

 

CONSOLIDATED BALANCE SHEETS

 

 

March 31

 

 

June 30

 

 

September 30

 

(Dollars in thousands)

Previously Reported

 

 

Effect of Change

 

 

As Adjusted

 

 

Previously Reported

 

 

Effect of Change

 

 

As Adjusted

 

 

Previously Reported

 

 

Effect of Change

 

 

As Adjusted

 

Cash and cash equivalents

$

—

 

 

$

7,824

 

 

$

7,824

 

 

$

—

 

 

$

65,378

 

 

$

65,378

 

 

$

—

 

 

$

72,855

 

 

$

72,855

 

Cash

$

7,789

 

 

$

(7,789

)

 

$

—

 

 

$

25,301

 

 

$

(25,301

)

 

$

—

 

 

$

32,734

 

 

$

(32,734

)

 

$

—

 

Short-term investments

$

35

 

 

$

(35

)

 

$

—

 

 

$

40,077

 

 

$

(40,077

)

 

$

—

 

 

$

40,121

 

 

$

(40,121

)

 

$

—

 

 

CONSOLIDATED STATEMENTS OF CASH FLOWS

 

 

March 31

 

 

June 30

 

 

September 30

 

(Dollars in thousands)

Previously Reported

 

 

Effect of Change

 

 

As Adjusted

 

 

Previously Reported

 

 

Effect of Change

 

 

As Adjusted

 

 

Previously Reported

 

 

Effect of Change

 

 

As Adjusted

 

Change in short-term

   investments

$

4

 

 

$

(4

)

 

$

—

 

 

$

(40,038

)

 

$

40,038

 

 

$

—

 

 

$

(40,082

)

 

$

40,082

 

 

$

—

 

Net cash from investing

   activities

$

(3,054

)

 

$

(4

)

 

$

(3,058

)

 

$

61,338

 

 

$

40,038

 

 

$

101,376

 

 

$

56,040

 

 

$

40,082

 

 

$

96,122

 

Change in cash and cash

   equivalents

$

(97

)

 

$

(4

)

 

$

(101

)

 

$

17,415

 

 

$

40,038

 

 

$

57,453

 

 

$

24,848

 

 

$

40,082

 

 

$

64,930

 

Cash and cash equivalents

   at beginning of year

$

7,886

 

 

$

39

 

 

$

7,925

 

 

$

7,886

 

 

$

39

 

 

$

7,925

 

 

$

7,886

 

 

$

39

 

 

$

7,925

 

Cash and cash equivalents

   at end of year

$

7,789

 

 

$

35

 

 

$

7,824

 

 

$

25,301

 

 

$

40,077

 

 

$

65,378

 

 

$

32,734

 

 

$

40,121

 

 

$

72,855