Quarterly Information (unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Our quarterly financial information has not been audited but, in management’s opinion, includes all adjustments necessary for a fair presentation.



(In thousands)	Three months ended											Year ended
2017	March 31		June 30		September 30			December 31				December 31
Revenue	$	122,447	$	131,161	$	124,097		$	131,503			509,208
Gross profit	19,388		22,435		18,646			21,558				82,027
Net income	4,086		5,863		3,281		^(a)	(339		)	^(a)	12,891

Earnings per share:
Basic	$	0.24	$	0.35	$	0.20		$	(0.02	)		$	0.77
Diluted	$	0.24	$	0.35	$	0.19		$	(0.02	)		$	0.76

2016
Revenue	$	115,756	$	125,542	$	121,978		$	127,283			$	490,559
Gross profit	17,927		20,344		20,004			21,882				80,157
Net income	3,800		4,913		4,802			6,732				20,247

Earnings per share:
Basic	$	0.23	$	0.29	$	0.29		$	0.40			$	1.21
Diluted	$	0.23	$	0.29	$	0.29		$	0.40			$	1.21

The sum of the quarterly earnings per share amounts may not equal the total for the year due to the effects of rounding and dilution as a result of issuing common shares during the year.

(a) Includes a $2.6 million gross profit reduction in the third quarter ended September 30, 2017 due to a contract performance dispute resulting in an increase in estimated costs to complete a project for a foreign oil and gas client. During the fourth quarter ended December 31, 2017, the client terminated the contract and we incurred a $1.8 million loss in the fourth quarter of 2017, of which $0.5 million is reflected as a reduction to gross profit and $1.3 million is included in SG&A expense and represents a bad debt reserve relating to accounts receivable from the client.