| Quarterly Financial Information [Text Block] |
UNAUDITED QUARTERLY INFORMATION
The following tables set forth selected unaudited condensed consolidated statement of operations data for each of the eight quarters ended December 31, 2011. Operating results for any quarter are not necessarily indicative of results for any future period.
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Year Ended December 31, 2011 |
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First Quarter |
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Second Quarter |
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Third Quarter |
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Fourth Quarter |
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(unaudited, in thousands, except share and per share data) |
Net revenues |
$ |
146,420 |
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$ |
165,482 |
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$ |
227,804 |
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$ |
188,494 |
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Direct expenses |
118,437 |
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|
133,330 |
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|
187,948 |
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|
153,439 |
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Operating expenses |
19,680 |
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|
18,794 |
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|
23,447 |
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|
22,439 |
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Total expenses |
138,117 |
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|
152,124 |
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|
211,395 |
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|
175,878 |
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Operating income |
8,303 |
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|
13,358 |
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|
16,409 |
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|
12,616 |
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Other expenses, net |
(900 |
) |
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(989 |
) |
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(1,360 |
) |
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(1,943 |
) |
Income before provision for income taxes |
7,403 |
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12,369 |
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15,049 |
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10,673 |
Income tax provision |
(2,115 |
) |
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(3,537 |
) |
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(2,690 |
) |
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(2,425 |
) |
Net income |
$ |
5,288 |
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$ |
8,832 |
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$ |
12,359 |
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$ |
8,248 |
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Net income per share attributable to common shareholders: |
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Basic |
$ |
0.13 |
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$ |
0.21 |
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$ |
0.29 |
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$ |
0.19 |
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Diluted |
$ |
0.12 |
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$ |
0.19 |
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$ |
0.27 |
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$ |
0.18 |
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Weighted average common shares outstanding: |
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Basic |
41,322,276 |
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42,367,242 |
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43,116,861 |
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43,514,982 |
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Diluted |
45,823,090 |
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45,907,748 |
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46,308,032 |
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45,554,558 |
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Year Ended December 31, 2010 |
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First Quarter |
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Second Quarter |
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Third Quarter |
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Fourth Quarter |
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(unaudited, in thousands, except share and per share data) |
Net revenues |
$ |
105,629 |
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$ |
141,355 |
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$ |
191,901 |
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$ |
179,342 |
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Direct expenses |
87,230 |
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|
115,201 |
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|
157,021 |
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|
148,073 |
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Operating expenses |
15,836 |
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14,140 |
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15,967 |
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|
18,766 |
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Total expenses |
103,066 |
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129,341 |
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172,988 |
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166,839 |
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Operating income |
2,563 |
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|
12,014 |
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18,913 |
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12,503 |
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Other expenses, net |
(856 |
) |
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(1,217 |
) |
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(2,010 |
) |
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(998 |
) |
Income before provision for income taxes |
1,707 |
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10,797 |
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16,903 |
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11,505 |
Income tax provision |
(429 |
) |
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(3,089 |
) |
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(4,862 |
) |
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(3,805 |
) |
Net income |
$ |
1,278 |
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$ |
7,708 |
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$ |
12,041 |
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$ |
7,700 |
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Net income per share attributable to common shareholders: |
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Basic |
$ |
0.10 |
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$ |
0.56 |
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$ |
0.35 |
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$ |
0.19 |
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Diluted |
$ |
0.03 |
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$ |
0.20 |
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$ |
0.28 |
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$ |
0.17 |
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Weighted average common shares outstanding: |
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Basic |
13,282,284 |
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13,742,472 |
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34,434,352 |
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41,086,998 |
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Diluted |
36,587,847 |
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38,412,419 |
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43,445,391 |
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46,147,728 |
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