Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information (Unaudited)

Quarterly Financial Information (Unaudited)

17. Quarterly Financial Information (Unaudited)

The Company’s quarterly operating results are presented in the following table (dollars in thousands, except per share amounts):

							Earnings		Earnings
			Operating		Net		(Loss)		(Loss)
	Operating		Income		Income		per share -		per share -
	Revenues		(Loss)		(Loss)		basic		diluted
Year Ended December 31, 2017:
First Quarter	$	94,510	$	655	$	(1,952)	$	(0.17)	$	(0.17)
Second Quarter		91,298		2,767		(3,476)		(0.30)		(0.30)
Third Quarter		91,013		(1,088)		(92,719)		(8.00)		(8.00)
Fourth Quarter		91,598		(333)		(9,094)		(0.78)		(0.78)
Total	$	368,419	$	2,001	$	(107,241)	$	(9.27)	$	(9.27)
Year Ended December 31, 2016:
First Quarter	$	98,794	$	4,500	$	154	$	0.01	$	0.01
Second Quarter		99,541		6,889		1,445		0.13		0.13
Third Quarter		97,848		3,703		(279)		(0.02)		(0.02)
Fourth Quarter		96,780		3,700		(214)		(0.02)		(0.02)
Total	$	392,963	$	18,792	$	1,106	$	0.10	$	0.10

In the second quarter of 2017, the Company recognized a loss on early extinguishment of debt of $4.8 million (see Note 7).  The quarterly results of operations for the year ended December 31, 2017 include pension settlement losses (see Note 8) for the first, second, third and fourth quarters amounting to $2.0 million, $0.3 million, $1.1 million and $0.6 million, respectively.  The quarterly results of operations for the year ended December 31, 2016 include pension settlement losses for the third and fourth quarters amounting to $0.5 million and $0.8 million, respectively.  During the third quarter of 2017, the Company established a full valuation allowance for deferred income tax assets resulting in an income tax expense of $89.4 million for the quarter.