Annual report pursuant to Section 13 and 15(d)

Quarterly Information (Unaudited) (Tables)

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Quarterly Information (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information (Unaudited)
 
Quarter Ended
 
March
 
June
 
September(1)
 
December (1,2)
 
(in thousands except per share data)
Fiscal Year 2019:
 
 
 
 
 
 
 
Revenues
$
136,003

 
$
138,773

 
$
136,172

 
$
160,902

Gross profit
99,664

 
102,332

 
97,970

 
116,668

Income from operations
23,241

 
22,425

 
15,651

 
32,246

Net income
15,755

 
13,992

 
9,148

 
20,334

Net income per share:
 
 
 
 
 
 
 
Basic
$
0.90

 
$
0.81

 
$
0.53

 
$
1.19

Diluted
$
0.87

 
$
0.79

 
$
0.52

 
$
1.13

Weighted average shares outstanding:
 
 
 
 
 
 
 
Basic
17,547

 
17,291

 
17,144

 
17,064

Diluted
18,015

 
17,809

 
17,441

 
17,923

 
 
 
 
 
 
 
 
Fiscal Year 2018:
 
 
 
 
 
 
 
Revenues
$
133,565

 
$
139,627

 
$
143,507

 
$
170,231

Gross profit
108,038

 
110,185

 
110,383

 
131,415

Income from operations
49,201

 
46,869

 
44,292

 
54,037

Net income
47,044

 
45,524

 
33,413

 
42,661

Net income per share:
 
 
 
 
 
 
 
Basic
$
2.67

 
$
2.53

 
$
1.84

 
$
2.37

Diluted
$
2.54

 
$
2.41

 
$
1.75

 
$
2.30

Weighted average shares outstanding:
 
 
 
 
 
 
 
Basic
17,644

 
18,015

 
18,161

 
17,983

Diluted
18,511

 
18,906

 
19,046

 
18,578


Quarterly and year-to-date computations of per share amounts are made independently. Therefore, the sum of per share amounts for the quarters may not agree with per share amounts for the year shown elsewhere in our Annual Report on Form 10-K.
(1) The third and fourth quarter results of 2018 through the results of 2019 include the impact of the Company's acquisition of MetaPack.
(2) Beginning on October 1, 2018, insurance revenue represents the amount we receive from customers net of the costs paid to our insurance providers. For the periods presented prior to October 1, 2018, insurance revenue represented the gross amount charged to the customer for purchasing insurance and the insurance cost of revenues represented the amount paid to our insurance providers.