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Selected Quarterly Financial Information (Unaudited)
 12 Months Ended
Dec. 31, 2016
Selected Quarterly Financial Information (Unaudited)  
Selected Quarterly Financial Information (Unaudited)

Note 26—Selected Quarterly Financial Information (Unaudited)

 

Selected unaudited quarterly consolidated financial information is presented in the following tables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2016

 

 

    

1st

    

2nd

    

3rd

    

4th

 

(In thousands, except per share data)

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Revenues

 

$
430,446

 

$
456,811

 

$
507,828

 

$
601,863

 

Gross profit

 

 
39,277

 

 
43,285

 

 
50,129

 

 
68,616

 

Impairment of goodwill

 

 

 —

 

 

 —

 

 
2,716

 

 

 —

 

Net income

 

 
2,916

 

 
5,287

 

 
4,756

 

 
14,766

 

Net income attributable to Primoris

 

 
2,693

 

 
5,056

 

 
4,504

 

 
14,470

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$
0.05

 

$
0.10

 

$
0.09

 

$
0.28

 

Diluted earnings per share

 

$
0.05

 

$
0.10

 

$
0.09

 

$
0.28

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding (in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
51,725

 

 
51,772

 

 
51,780

 

 
51,771

 

Diluted

 

 
51,881

 

 
52,022

 

 
52,034

 

 
52,021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2015

 

 

    

1st

    

2nd

    

3rd

    

4th

 

(In thousands, except per share data)

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Revenues

 

$
392,780

 

$
483,545

 

$
555,945

 

$
497,145

 

Gross profit

 

 
38,005

 

 
46,496

 

 
71,647

 

 
63,725

 

Impairment of goodwill

 

 

 —

 

 

 —

 

 

 —

 

 
401

 

Net income

 

 
1,672

 

 
3,692

 

 
19,079

 

 
12,708

 

Net income attributable to Primoris

 

 
1,672

 

 
3,638

 

 
19,007

 

 
12,555

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$
0.03

 

$
0.07

 

$
0.37

 

$
0.24

 

Diluted earnings per share

 

$
0.03

 

$
0.07

 

$
0.37

 

$
0.24

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding (in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
51,572

 

 
51,666

 

 
51,672

 

 
51,676

 

Diluted

 

 
51,726

 

 
51,815

 

 
51,824

 

 
51,825

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2014

 

 

    

1st

    

2nd

    

3rd

    

4th

 

(In thousands, except per share data)

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Revenues

 

$
470,074

 

$
515,291

 

$
613,237

 

$
487,592

 

Gross profit

 

 
49,757

 

 
61,194

 

 
75,473

 

 
49,616

 

Net income

 

 
11,265

 

 
16,003

 

 
27,390

 

 
9,024

 

Net income attributable to Primoris

 

 
10,833

 

 
16,003

 

 
27,390

 

 
8,930

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$
0.21

 

$
0.31

 

$
0.53

 

$
0.17

 

Diluted earnings per share

 

$
0.21

 

$
0.31

 

$
0.53

 

$
0.17

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding (in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 
51,610

 

 
51,655

 

 
51,606

 

 
51,561

 

Diluted

 

 
51,714

 

 
51,804

 

 
51,759

 

 
51,710