XML 62 R35.htm IDEA: XBRL DOCUMENT v2.4.1.9
Selected Quarterly Financial Information (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Summary of quarterly financial information
The following is a summary of quarterly financial information for the indicated periods:
 
 
Year Ended December 31, 2014
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
Total
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
276,272

 
$
284,282

 
$
295,732

 
$
266,686

 
$
1,122,972

Gross profit
 
50,763

 
52,797

 
54,488

 
48,509

 
206,557

Operating and administrative expenses (1)
 
45,708

 
46,107

 
46,006

 
45,052

 
182,873

Restructuring and other related costs

 
370

 
(298
)
 
—

 
3,573

 
3,645

Impairment
 
—

 
—

 
—

 
14,653

 
14,653

Operating profit (loss) (1)
 
4,685

 
6,988

 
8,482

 
(14,769
)
 
5,386

Income (loss) before income taxes
 
4,603

 
6,996

 
8,349

 
(14,790
)
 
5,158

Net income (loss)
 
2,041

 
4,452

 
5,441

 
(8,917
)
 
3,017

Net income (loss) attributable to CDI
 
2,037

 
4,427

 
5,400

 
(8,782
)
 
3,082

Earnings (loss) per common share:
 
 
 
 
 
 
 
 
 
 
Basic
 
$
0.10

 
$
0.23

 
$
0.28

 
$
(0.45
)
 
$
0.16

Diluted
 
$
0.10

 
$
0.22

 
$
0.27

 
$
(0.45
)
 
$
0.16


(1) 
In In the first quarter of 2014, the Company recorded an aggregate $0.9 million charge to net income related to the separation of the Company's former CEO comprised of a $0.7 million pre-tax charge ($0.4 million after tax) to operations and an additional $0.5 million charge to income tax expense for the write-off of certain deferred tax assets related to the forfeiture of outstanding equity awards.

 
 
Year Ended December 31, 2013
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
Total
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
269,466

 
$
263,363

 
$
277,916

 
$
277,114

 
$
1,087,859

Gross profit
 
50,151

 
51,545

 
52,697

 
52,248

 
206,641

Operating and administrative expenses (1), (2)
 
45,238

 
46,303

 
45,751

 
42,717

 
180,009

Restructuring and other related costs
 
—

 
—

 
—

 
5,716

 
5,716

Operating profit (1), (2)
 
4,913

 
5,242

 
6,946

 
3,815

 
20,916

Income before income taxes
 
4,862

 
5,180

 
6,889

 
3,717

 
20,648

Net income
 
2,553

 
3,497

 
4,566

 
2,332

 
12,948

Net income attributable to CDI
 
2,491

 
3,438

 
4,528

 
2,427

 
12,884

Earnings per common share:
 
 
 
 
 
 
 
 
 
 
Basic
 
$
0.13

 
$
0.18

 
$
0.23

 
$
0.13

 
$
0.66

Diluted
 
$
0.13

 
$
0.17

 
$
0.23

 
$
0.12

 
$
0.65




(1) 
In the fourth quarter of 2013, the Company recorded a $3.3 million benefit to "Operating and administrative expenses" related to the settlement of legal claims pursued by the Company.
(2) 
In 2013, the Company's GETS segment recorded a $1.8 million benefit to "Operating and administrative expenses" related to the reduction of an acquisition earnout liability (by quarter: first $0.3 million, second $0.4 million, third $0.5 million and fourth $0.6 million.)