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Supplemental Quarterly Information (Unaudited)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Supplemental Quarterly Information (Unaudited)
SUPPLEMENTAL QUARTERLY INFORMATION (UNAUDITED)
The following table represents the significant items for the results of operations on a quarterly basis for the years ended December 31, 2017 and 2016:
 
Three Months
Ended
March 31,
2017
 
Three Months
Ended
June 30,
2017
 
Three Months
Ended
September 30,
2017
 
Three Months
Ended
December 31,
2017
Revenues
$
418,893

 
$
535,103

 
$
626,983

 
$
577,264

Gross profit (loss)
17,283

 
31,454

 
14,795

 
20,049

Selling, general, and administrative expenses including research and development expense
26,505

 
25,993

 
29,639

 
25,379

Impairment of property, plant and equipment

 
1,341

 

 
48,532

Net income (loss) from operations
(9,222
)
 
4,120

 
(14,844
)
 
(53,862
)
Other income (expense), net
(5,617
)
 
(36,969
)
 
3,356

 
3,469

Net income (loss) attributable to the Company
(15,914
)
 
(34,809
)
 
(11,373
)
 
(16,983
)
Net income (loss) per share attributable to common stockholders - basic
(0.41
)
 
(0.90
)
 
(0.29
)
 
(0.44
)
Net income (loss) per share attributable to common stockholders - diluted
(0.41
)
 
(0.90
)
 
(0.29
)
 
(0.44
)
 
Three Months
Ended
March 31,
2016
 
Three Months
Ended
June 30,
2016
 
Three Months
Ended
September 30,
2016
 
Three Months
Ended
December 31,
2016
Revenues
$
297,870

 
$
558,301

 
$
624,640

 
$
560,421

Gross profit (loss)
17,384

 
24,862

 
47,350

 
81,920

Selling, general, and administrative expenses including research and development expense
23,703

 
25,277

 
25,604

 
31,864

Impairment of property, plant and equipment

 

 

 
17,893

Net income (loss) from operations
(6,319
)
 
(415
)
 
21,746

 
32,163

Other income (expense), net
159

 
7,432

 
558

 
(6,343
)
Net income (loss) attributable to the Company
(6,918
)
 
7,606

 
23,442

 
20,197

Net income (loss) per share attributable to common stockholders - basic
(0.16
)
 
0.18

 
0.59

 
0.51

Net income (loss) per share attributable to common stockholders - diluted
(0.14
)
 
0.18

 
0.59

 
0.51



The results of operations for the three months ended December 31, 2017 reflect an asset impairment of $44,649 (before tax) related to the Company's New Orleans facility as further described in Note 2 and the impact of the “H.R. 1”, formerly known as the “Tax Cuts and Jobs Act” as signed into law on December 22, 2017. Refer to Note 11 for more details. The results of
operations for the three months ended December 31, 2016 reflected an asset impairment of $15,593 (before tax) related to the Company's Emporia facility. In addition, the results of operations for the three months ended September 30, 2017 and December 31, 2017 also reflect insurance proceeds of $3,000 and $5,000, respectively, and resulting gain on involuntary conversion of $942 and $4,387, respectively, related to the insurance coverage on property loss due to the June 2017 incident at the Company's Madison facility. For the year ended December 31, 2016, the Company recorded in its results of operations insurance proceeds of $19,037 for the property damages related to the events at its Geismar facility, which resulted in a total gain on involuntary conversion of $8,010.