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Quarterly Data (unaudited) (Tables)
 12 Months Ended
Dec. 31, 2013
Quarterly Data (unaudited)  
Schedule of quarterly data

 

 

 

First

 

Second

 

Third

 

Fourth

 

 

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

 

 

 

 

 

 

 

 

 

 

2013 (1) (2)

 

 

 

 

 

 

 

 

 

Revenues

 

$

389,454

 

$

396,233

 

$

409,934

 

$

421,012

 

Gross profit

 

95,078

 

101,065

 

104,511

 

111,411

 

Net income:

 

 

 

 

 

 

 

 

 

Net income-including noncontrolling interest

 

$

11,296

 

$

10,239

 

$

11,334

 

$

16,904

 

Net loss-noncontrolling interest

 

(36

)

(40

)

(34

)

—

 

Net income - Res-Care, Inc.

 

$

11,332

 

$

10,279

 

$

11,368

 

$

16,904

 

 

 

 

First

 

Second

 

Third

 

Fourth

 

 

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

 

 

 

 

 

 

 

 

 

 

2012 (1) (3)

 

 

 

 

 

 

 

 

 

Revenues

 

$

397,342

 

$

399,902

 

$

396,838

 

$

405,027

 

Gross profit

 

98,062

 

98,759

 

100,841

 

106,953

 

Net income:

 

 

 

 

 

 

 

 

 

Net income-including noncontrolling interest

 

$

5,735

 

$

4,799

 

$

12,244

 

$

18,235

 

Net loss-noncontrolling interest

 

(30

)

(31

)

(24

)

(25

)

Net income - Res-Care, Inc.

 

$

5,765

 

$

4,830

 

$

12,268

 

$

18,260

 

 

 

(1)   The first and third quarters of 2013 include a $3.3 million and $0.1 million, respectively, reduction to income tax expense related to the reinstatement of the jobs credit provisions retroactive to January 1, 2012.  No jobs credit was included in the 2012 quarters.

 

(2)   Second quarter of 2013 includes an overstatement of gross profit of $1 million ($0.6 million, net of tax) related to an erroneous physical inventory adjustment  in our Pharmacy operation.  This error was corrected in the third quarter of 2013 by decreasing gross profit by $1 million ($0.6 million, net of tax).  The third quarter of 2013 also included an adjustment which decreased revenues by $1.3 million, of which $0.5 million related to 2012, $0.4 million related to the first quarter of 2013 and $0.4 million related to the second quarter of 2013.  The net impact of these combined items decreased net income for the third quarter of 2013 by approximately $2.3 million before tax ($1.4 million after tax).

 

(3)   Second quarter of 2012 includes a $7.1 million ($4.4 million, net of tax) charge related to a loss on extinguishment of debt from our refinancing.