The following financial information reflects all normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results of the interim periods. Summarized quarterly data for the years ended December 31, 2015 and 2014 are as follows (in thousands, except per share data).

2015 Quarters	First Quarter			Second Quarter		Third Quarter			Fourth Quarter
Revenue	$	62,583		$	120,428	$	49,121		$	51,571
Operating expenses	$	71,913		$	75,782	$	97,259		$	114,511
Income (loss) from operations	$	(9,330	)	$	44,646	$	(48,138	)	$	(62,940	)
Net income (loss)	$	(16,717	)	$	35,648	$	(35,776	)	$	(71,433	)
Basic net income (loss) per share (1)	$	(0.14	)	$	0.30	$	(0.30	)	$	(0.59	)
Diluted net income (loss) per share (1) (2)	$	(0.14	)	$	0.29	$	(0.30	)	$	(0.59	)

2014 Quarters	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Revenue	$	28,161		$	57,076		$	44,063		$	84,861
Operating expenses	$	57,828		$	63,726		$	65,556		$	74,781
Income (loss) from operations	$	(29,667	)	$	(6,650	)	$	(21,493	)	$	10,080
Net income (loss)	$	(31,280	)	$	(12,081	)	$	(26,676	)	$	31,053
Basic net income (loss) per share (1)	$	(0.27	)	$	(0.10	)	$	(0.23	)	$	0.26
Diluted net income (loss) per share (1) (3)	$	(0.27	)	$	(0.10	)	$	(0.23	)	$	0.25

(1)	We computed net income (loss) per share independently for each of the quarters presented. Therefore, the sum of the quarterly net income (loss) per share will not necessarily equal the total for the year.

(2)

For the three months ended June 30, 2015, we had net income. As a result, we computed diluted net income per share using the weighted-average number of common shares and dilutive common equivalent shares outstanding during the period. Diluted common equivalent shares for the three months ended June 30, 2015 consisted of the following (in thousands):

Three Months Ended June 30, 2015	Income (Numerator)		Shares (Denominator)		Per-Share Amount

Income available to common shareholders	$	35,648		119,742	$	0.30
Effect of diluted securities:
Shares issuable upon exercise of stock options				3,974
Shares issuable upon restricted stock award issuance				376
Shares issuable related to our ESPP				4
Shares issuable related to our 2¾ percent notes		1,047		3,683
Income available to common shareholders, plus assumed conversions	$	36,695		127,779	$	0.29

For the three months ended June 30, 2015, the calculation excludes the 1 percent notes because the effect on diluted earnings per share was anti-dilutive.

(3)

For the three months ended December 31, 2014, we had net income. As a result, we computed diluted net income per share using the weighted-average number of common shares and dilutive common equivalent shares outstanding during the period. Diluted common equivalent shares for the three months ended December 31, 2014 consisted of the following (in thousands):

Three Months Ended December 31, 2014	Income (Numerator)		Shares (Denominator)		Per-Share Amount

Income available to common shareholders	$	31,053		118,223	$	0.26
Effect of diluted securities:
Shares issuable upon exercise of stock options				4,189
Shares issuable upon restricted stock award issuance				418
Shares issuable related to our ESPP				9
Income available to common shareholders, plus assumed conversions	$	31,053		122,839	$	0.25

For the three months ended December 31, 2014, the calculation excludes the 1 percent and 2¾ percent convertible senior notes because the effect on diluted earnings per share was anti-dilutive.