17. Quarterly Financial Data (Unaudited)
Quarterly operating results for 2012 and 2011 are summarized as follows (in thousands, except per share data):
| Quarter Ended | ||||||||||||||||
| March 31, | June 30, | September 30, | December 31, | |||||||||||||
|
2012: |
||||||||||||||||
|
Revenues |
$ | 71,782 | $ | 85,928 | $ | 75,579 | $ | 93,203 | ||||||||
|
Operating income (loss) 1 2 |
$ | (751 | ) | $ | 4,803 | $ | (728 | ) | $ | 4,188 | ||||||
|
Net income (loss) 2 |
$ | (830 | ) | $ | 1,844 | $ | (1,280 | ) | $ | 1,071 | ||||||
|
Earnings (loss) per common share: |
||||||||||||||||
|
Basic |
$ | (0.02 | ) | $ | 0.05 | $ | (0.03 | ) | $ | 0.03 | ||||||
|
Diluted |
$ | (0.02 | ) | $ | 0.05 | $ | (0.03 | ) | $ | 0.03 | ||||||
|
2011: |
||||||||||||||||
|
Revenues |
$ | 73,054 | $ | 83,009 | $ | 78,330 | $ | 81,814 | ||||||||
|
Operating income 4 5 |
$ | 3,825 | $ | 6,607 | $ | 5,522 | $ | 4,497 | ||||||||
|
Net income 6 7 |
$ | 4,026 | $ | 5,146 | $ | 3,582 | $ | 11,216 | ||||||||
|
Earnings per common share: |
||||||||||||||||
|
Basic |
$ | 0.11 | $ | 0.14 | $ | 0.10 | $ | 0.30 | ||||||||
|
Diluted |
$ | 0.11 | $ | 0.14 | $ | 0.10 | $ | 0.30 | ||||||||
| 1 |
Operating income (loss) for the quarters ended in 2012 includes restructuring charges of nil, $0.7 million, $0.1 million and $2.8 million, respectively, and corporate headquarter relocation charges of $0.8 million, $0.7 million, $0.1 million, and nil, respectively. |
| 2 |
Operating income and net income for the quarter ended December 31, 2012 include an impairment charge of $0.4 million and $0.2 million, respectively, related to a write down of certain intangible assets in the Americas. |
| 3 |
Net income (loss) for the quarters ended in 2012 includes restructuring charges, net of tax of nil, $0.6 million, $0.1 million and $2.7 million, respectively, and corporate headquarter relocation charges of $0.5 million, $0.4 million, $0.1 million and nil, respectively. |
| 4 |
Operating income for the quarters ended in 2011 includes restructuring charges of $0.1 million, $0.2 million, $0.02 million and $0.1 million, respectively, and includes relocation charges of $0.1 million for the quarter ended December 31, 2011. |
| 5 |
Operating income and net income for the quarter ended December 31, 2011 include an impairment charge of $0.9 million related to a write down of certain assets in Germany. |
| 6 |
Net income for the quarter ended March 31, 2011 includes an acquisition related deferred tax benefit of $1.2 million and net income for the quarter ended December 31, 2011 includes a $7.7 million income tax benefit related to the reversal of the valuation allowance on deferred tax assets in the United States. |
| 7 |
Net income for the quarters ended in 2011 includes restructuring charges, net of tax of $0.1 million, $0.1 million, $0.01 million and $0.1 million, respectively, and includes relocation charges, net of tax of $0.1 million for the quarter ended December 31, 2011. |