NOTE

– QUARTERLY FINANCIAL DATA – UNAUDITED

Provided below are selected unaudited quarterly financial data for

2019

and

2018.

The information has been derived from our unaudited condensed consolidated financial statements. In the opinion of management, the unaudited condensed consolidated financial statements have been prepared on a basis consistent with the consolidated financial statements which appear elsewhere in this Annual Report on Form

-K and include all adjustments necessary for a fair statement of the financial position and results of operations for such unaudited periods. Historical results are

not

necessarily indicative of results to be expected in the future.

The earnings per share information is calculated independently for each quarter based on the weighted average common stock and common stock equivalents outstanding, which

may

fluctuate, based on factors such as the number of shares in a period that are issued, vest, or repurchased, our quarterly income levels and our stock’s market prices. Therefore, the sum of the quarters’ per share information

may

not

equal the annual amount presented on the consolidated statements of operations.

The following is the quarterly financial data for the years ended

December 31, 2019

and

2018:

	2019
(In thousands, except per share data)	First Quarter		Second Quarter			Third Quarter			Fourth Quarter			Year
Tour revenues	$	89,654	$	76,658		$	100,983		$	75,796		$	343,091

Net income	$	15,079	$	851		$	2,726		$	92		$	18,748
Diluted earnings (loss) per share	$	0.31	$	0.02		$	(0.01	)	$	(0.03	)	$	0.28

	2018
(In thousands, except per share data)	First Quarter		Second Quarter			Third Quarter			Fourth Quarter			Year
Tour revenues	$	82,410	$	69,473		$	87,242		$	70,609		$	309,734

Net income (loss)	$	10,917	$	(159	)	$	5,346		$	(4,552	)	$	11,552
Diluted earnings (loss) per share	$	0.24	$	-		$	0.11		$	(0.10	)	$	0.24