Annual report pursuant to Section 13 and 15(d)

Quarterly Summary of Information (Unaudited)

v3.10.0.1
Quarterly Summary of Information (Unaudited)
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
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.

 

(amounts in thousands, except share and per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarterly Results 2018

 

Q1 March

 

 

Q2 June

 

 

Q3 September

 

 

Q4 December

 

Total revenue

 

$

79,051

 

 

$

97,238

 

 

$

95,291

 

 

$

86,531

 

Gross profit

 

 

37,727

 

 

 

48,470

 

 

 

48,813

 

 

 

43,570

 

Income before benefit for income taxes

 

 

9,687

 

 

 

13,646

 

 

 

11,299

 

 

 

5,823

 

Benefit for income taxes

 

 

(1,071

)

 

 

(964

)

 

 

(5,133

)

 

 

(4,222

)

Net income

 

 

10,758

 

 

 

14,610

 

 

 

16,432

 

 

 

10,045

 

Net income per share attributable to

   common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.51

 

 

$

0.69

 

 

$

0.77

 

 

$

0.47

 

Diluted

 

$

0.48

 

 

$

0.65

 

 

$

0.73

 

 

$

0.44

 

Weighted-average number of shares used in

   calculating net income per share attributable

   to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic common shares

 

 

21,026,154

 

 

 

21,172,170

 

 

 

21,324,256

 

 

 

21,544,202

 

Diluted common shares

 

 

22,295,213

 

 

 

22,503,749

 

 

 

22,659,052

 

 

 

22,600,038

 

 

(amounts in thousands, except share and per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarterly Results 2017

 

Q1 March

 

 

Q2 June

 

 

Q3 September

 

 

Q4 December

 

Total revenue

 

$

52,500

 

 

$

64,121

 

 

$

69,030

 

 

$

63,787

 

Gross profit

 

 

25,744

 

 

 

31,567

 

 

 

33,170

 

 

 

30,756

 

Income before provision (benefit) for income taxes

 

 

5,879

 

 

 

9,166

 

 

 

8,817

 

 

 

5,794

 

Provision (benefit) for income taxes

 

 

(53

)

 

 

828

 

 

 

1,479

 

 

 

6,400

 

Net income (loss)

 

 

5,932

 

 

 

8,338

 

 

 

7,338

 

 

 

(606

)

Net income (loss) per share attributable to

   common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.29

 

 

$

0.40

 

 

$

0.35

 

 

$

(0.03

)

Diluted

 

$

0.27

 

 

$

0.38

 

 

$

0.33

 

 

$

(0.03

)

Weighted-average number of shares used in

   calculating net income (loss) per share attributable

   to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic common shares

 

 

20,489,532

 

 

 

20,622,320

 

 

 

20,753,789

 

 

 

20,869,589

 

Diluted common shares

 

 

21,579,721

 

 

 

21,848,359

 

 

 

21,998,660

 

 

 

22,167,358

 

 

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.