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Selected Quarterly Financial Information
 12 Months Ended
Dec. 31, 2012
Selected Quarterly Financial Information [Abstract]  
Selected Quarterly Financial Information
NOTE 17 – SELECTED QUARTERLY FINANCIAL INFORMATION

Summarized unaudited quarterly financial information is as follows:

 
Three Months Ended
 
 
March 31
 
June 30
 
September 30
 
December 31
 
 
(In thousands except per share amounts)
 
2012:
 
 
 
 
 
 
 
 
Revenues
$
333,966

 
$
327,785

 
$
321,790

 
$
331,582

  
Gross profit (loss)
$
95,912

 
$
(22,253
)
 
$
95,921

 
$
(81,833
)
(1) 
Net income (loss)
$
52,439

 
$
(19,302
)
 
$
46,586

 
$
(56,547
)
   
Net income (loss) per common share:
 
 
 
 
 
 
 
 
Basic
$
1.10

 
$
(0.40
)
 
$
0.97

 
$
(1.18
)
(2) 
Diluted
$
1.09

 
$
(0.40
)
 
$
0.97

 
$
(1.18
)
 
2011:
 
 
 
 
 
 
 
 
Revenues
$
250,096

 
$
287,829

 
$
322,237

 
$
347,341

   
Gross profit
$
76,078

 
$
85,780

 
$
94,306

 
$
96,192

(1) 
Net income
$
41,027

 
$
49,819

 
$
53,360

 
$
51,661

   
Net income per common share:
 
 
 
 
 
 
 
 
Basic
$
0.86

 
$
1.05

 
$
1.12

 
$
1.08

   
Diluted
$
0.86

 
$
1.04

 
$
1.11

 
$
1.08

   
_________________________
(1)
Gross profit excludes general and administrative expense, interest expense, gain (loss) on non-designated hedges and hedge ineffectiveness, and other income (loss).
(2)
Due to the effect of rounding the basic earnings or diluted per share for the year’s four quarters does not equal annual earnings per share.