QUARTERLY INFORMATION (UNAUDITED)

12 Months Ended

Dec. 31, 2015

QUARTERLY INFORMATION (UNAUDITED)

QUARTERLY INFORMATION (UNAUDITED)

NOTE L—QUARTERLY INFORMATION (UNAUDITED)

        Summarized quarterly financial data for the years ended December 31, 2015 and 2014 are as follows:

	2015
	Quarter
	First			Second			Third			Fourth			Year
	(in thousands, except per share amounts)
Revenues	$	25,777		$	26,217		$	20,805		$	15,574		$	88,373
Gross profit		12,692			12,938			8,514			2,966			37,110
Net income		(102,272	)		(85,276	)		(186,061	)		(246,354	)		(619,963	)
Net income applicable to common stockholders		(102,274	)		(85,279	)		(186,063	)		(246,357	)		(619,973	)
Earnings per share
Basic	$	(1.26	)	$	(1.05	)	$	(2.29	)	$	(2.89	)	$	(7.55	)
Diluted	$	(1.26	)	$	(1.05	)	$	(2.29	)	$	(2.89	)	$	(7.55	)

	2014
	Quarter
	First		Second		Third		Fourth		Year
	(in thousands, except per share amounts)
Revenues	$	34,202	$	34,994	$	40,513	$	41,014	$	150,723
Gross profit		24,136		25,235		26,618		23,974		99,963
Net income		8,210		10,754		3,726		1,340		24,030
Net income applicable to common stockholders		8,207		10,752		3,723		1,338		24,020
Earnings per share
Basic	$	0.11	$	0.15	$	0.05	$	0.02	$	0.31
Diluted	$	0.11	$	0.15	$	0.05	$	0.02	$	0.31

        Quarterly and year-to-date computations of per share amounts are made independently. Therefore, the sum of quarterly per share amounts may not agree with per share amounts for the year. Gross profit represents total revenues less applicable direct operating expenses.