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Quarterly Consolidated Financial Data (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Financial Information
Summarized quarterly consolidated financial data is presented below:
 
Quarterly Periods During the Year Ended
December 31, 2017
 
Q1
 
Q2
 
Q3
 
Q4
 
(in thousands, except per share data)
Revenues
$
81,359

 
$
88,837

 
$
79,941

 
$
81,241

Gross profit
$
39,762

 
$
45,947

 
$
38,527

 
$
37,899

Net income(a)
$
4,138

 
$
13,595

 
$
8,526

 
$
97,126

Basic income per weighted-average share(b)
$
0.11

 
$
0.37

 
$
0.23

 
$
2.58

Diluted income per weighted-average share(b)
$
0.11

 
$
0.35

 
$
0.22

 
$
2.47

 
 
 
 
 
 
 
 
 
Quarterly Periods During the Year Ended
December 31, 2016
 
Q1
 
Q2
 
Q3
 
Q4
 
(in thousands, except per share data)
Revenues
$
76,474

 
$
77,966

 
$
73,063

 
$
74,350

Gross profit
$
33,701

 
$
35,751

 
$
33,681

 
$
34,647

Net income
$
10,323

 
$
7,350

 
$
4,220

 
$
4,869

Basic income per weighted-average share(b)
$
0.34

 
$
0.24

 
$
0.14

 
$
0.13

Diluted income per weighted-average share(b)
$
0.34

 
$
0.24

 
$
0.13

 
$
0.13

________________________________
(a)
Net income for the fourth quarter of 2017 reflects the income tax benefit due to the release of the Company’s valuation allowance of $141.1 million against its deferred tax assets offset by a provision of $45.1 million for remeasuring the Company’s deferred tax assets for the change in tax rates enacted under the Tax Cuts and Jobs Act of 2017.
(b)
Quarterly and annual computations are prepared independently. Accordingly, the sum of each quarter may not necessarily total the fiscal year period amounts noted elsewhere within this Annual Report on Form 10-K.