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Financial Results by Quarter (Unaudited)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Data [Abstract]  
Financial Results by Quarter (Unaudited)

NOTE 18.  FINANCIAL RESULTS BY QUARTER (UNAUDITED)

 

 

 

Three Months Ended

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

(Dollars in thousands, except per share amounts)

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Revenues

 

$

149,681

 

 

$

127,896

 

 

$

163,229

 

 

$

141,495

 

 

$

190,441

 

 

$

174,027

 

 

$

175,244

 

 

$

155,681

 

Operating income (loss)

 

$

23,909

 

 

$

5,072

 

 

$

40,773

 

 

$

(34,228

)

 

$

43,793

 

 

$

38,994

 

 

$

37,048

 

 

$

25,716

 

Net income (loss)

 

$

16,921

 

 

$

157

 

 

$

24,244

 

 

$

(31,238

)

 

$

33,700

 

 

$

27,646

 

 

$

11,588

 

 

$

14,373

 

Net income (loss) per share1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.41

 

 

$

—

 

 

$

0.59

 

 

$

(0.77

)

 

$

0.83

 

 

$

0.68

 

 

$

0.28

 

 

$

0.35

 

Diluted

 

$

0.41

 

 

$

—

 

 

$

0.59

 

 

$

(0.77

)

 

$

0.82

 

 

$

0.68

 

 

$

0.28

 

 

$

0.35

 

 

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.

 

Our Quarterly Reports on Form 10-Q, as filed with the Securities and Exchange Commission, include the quarterly results for the first nine months of each respective year. During the fourth quarter of 2017, we incurred $3.4 million in merger-related costs associated with the pending merger with Deltic. See Note 2: Pending Merger with Deltic for additional information.