| Quarterly summary of information (unaudited) |
9. Quarterly summary of information (unaudited)
The following table sets forth the Company’s unaudited quarterly statements of income data in dollars for each of the eight quarters in the period ended December 31, 2018. The Company has prepared the quarterly statements of income data on a basis consistent with the audited financial statements. In the opinion of management, the financial information reflects all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of this data. The results of historical periods are not necessarily indicative of the results of operations for any future period.
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(amounts in thousands, except share and per share amounts)
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Quarterly Results 2018
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Q1 March
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Q2 June
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Q3 September
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Q4 December
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Total revenue
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$
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79,051
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$
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97,238
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$
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95,291
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$
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86,531
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Gross profit
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37,727
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48,470
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48,813
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43,570
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Income before benefit for income taxes
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9,687
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13,646
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11,299
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5,823
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Benefit for income taxes
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(1,071
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)
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(964
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)
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(5,133
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)
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(4,222
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)
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Net income
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10,758
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14,610
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16,432
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10,045
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Net income per share attributable to
common stockholders:
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Basic
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$
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0.51
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$
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0.69
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$
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0.77
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$
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0.47
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Diluted
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$
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0.48
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$
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0.65
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$
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0.73
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$
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0.44
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Weighted-average number of shares used in
calculating net income per share attributable
to common stockholders:
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Basic common shares
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21,026,154
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21,172,170
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21,324,256
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21,544,202
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Diluted common shares
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22,295,213
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22,503,749
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22,659,052
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22,600,038
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(amounts in thousands, except share and per share amounts)
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Quarterly Results 2017
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Q1 March
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Q2 June
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Q3 September
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Q4 December
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Total revenue
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$
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52,500
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$
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64,121
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$
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69,030
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$
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63,787
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Gross profit
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25,744
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31,567
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33,170
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30,756
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Income before provision (benefit) for income taxes
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5,879
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9,166
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8,817
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5,794
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Provision (benefit) for income taxes
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(53
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828
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1,479
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6,400
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Net income (loss)
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5,932
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8,338
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7,338
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(606
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)
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Net income (loss) per share attributable to
common stockholders:
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Basic
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$
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0.29
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$
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0.40
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$
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0.35
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$
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(0.03
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Diluted
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$
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0.27
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$
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0.38
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$
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0.33
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$
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(0.03
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)
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Weighted-average number of shares used in
calculating net income (loss) per share attributable
to common stockholders:
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Basic common shares
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20,489,532
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20,622,320
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20,753,789
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20,869,589
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Diluted common shares
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21,579,721
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21,848,359
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21,998,660
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22,167,358
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Earnings per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly amounts will not necessarily equal the total for the year.
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