Annual report pursuant to Section 13 and 15(d)

Selected Quarterly Financial Data (Tables)

v2.4.0.8
Selected Quarterly Financial Data (Tables)
12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Selected Quarterly Financial Data
 
Quarter
Year 2013
First
 
Second
 
Third
 
Fourth
 
Total
 
(Dollars in Thousands Except Per Share Amounts)
 
(Unaudited)
Revenues
$
167,135

 
$
225,954

 
$
237,762

 
$
243,321

 
$
874,172

Operating gross margin(2)
$
20,877

 
$
50,273

 
$
48,733

 
$
48,564

 
$
168,447

Operating income
$
9,180

 
$
28,587

 
$
35,589

 
$
28,516

 
$
101,872

Net income attributable to controlling interest
$
592

 
$
8,281

 
$
7,970

 
$
10,172

 
$
27,015

Basic earnings per share — net income(1)
$
0.00

 
$
0.07

 
$
0.07

 
$
0.08

 
$
0.23

Diluted earnings per share — net income(1)
$
0.00

 
$
0.07

 
$
0.07

 
$
0.08

 
$
0.22

 
Quarter
Year 2012
First
 
Second
 
Third
 
Fourth
 
Total
 
(Dollars in Thousands Except Per Share Amounts)
 
(Unaudited)
Revenues
$
176,495

 
$
178,895

 
$
165,200

 
$
157,171

 
$
677,761

Operating gross margin(2)
$
53,744

 
$
46,914

 
$
34,261

 
$
16,637

 
$
151,556

Operating income
$
48,689

 
$
40,978

 
$
25,903

 
$
(8,297
)
 
$
107,273

Net income (loss) attributable to controlling interest
$
26,392

 
$
20,083

 
$
10,936

 
$
(20,098
)
 
$
37,313

Basic earnings per share — net income (loss)(1)
$
0.23

 
$
0.17

 
$
0.09

 
$
(0.17
)
 
$
0.32

Diluted earnings per share — net income (loss)(1)
$
0.22

 
$
0.17

 
$
0.09

 
$
(0.17
)
 
$
0.31

1)
As a result of shares issued during the year, earnings per share for each of the year’s four quarters, which are based on weighted average shares outstanding during each quarter, may not equal the annual earnings per share, which is based on the weighted average shares outstanding during the year. Additionally, as a result of rounding to the thousands, revenues, operating gross margin, operating income, and net income (loss) attributable to controlling interest may not equal the 2013 year to date results.
2)
As the Company modified its reporting segments to be consistent with recent organizational changes to improve our drilling organization, expenses related to our U.S. Barge Drilling segment were found to be incorrectly included in our general and administrative expense during the first through third quarters of the current year. These expenses have been appropriately reclassified to be included as part of the segment operating expenses, therefore our operating gross margin for each of the first three quarters will not agree to the respective 10-Q reports for the current year only.