Comfort Inn 2005 Annual Report Download - page 57

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CHOICE HOTELS INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
25. Selected Quarterly Financial Data – (Unaudited)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter 2005
(In thousands, except per share data)
Revenues .................................... $91,168 $122,295 $141,951 $121,985 $477,399
Operating income ............................. $22,299 $ 37,417 $ 47,787 $ 36,247 $143,750
Income before income taxes .................... $18,893 $ 34,157 $ 45,157 $ 32,535 $130,742
Net income ................................... $11,999 $ 21,548 $ 32,466 $ 21,552 $ 87,565
Per basic share:
Net income ............................... $ 0.19 $ 0.33 $ 0.50 $ 0.33 $ 1.36
Per diluted share:
Net income ............................... $ 0.18 $ 0.32 $ 0.48 $ 0.32 $ 1.32
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter 2004
(In thousands, except per share data)
Revenues .................................... $87,167 $107,018 $127,350 $106,673 $428,208
Operating income .............................. $18,899 $ 32,130 $ 42,488 $ 31,466 $124,983
Incomebeforeincometaxes...................... $16,849 $ 29,498 $ 38,971 $ 29,206 $114,524
Netincome ............................... $10,594 $ 18,503 $ 24,916 $ 20,332 $ 74,345
Per basic share:
Netincome ............................... $ 0.15 $ 0.28 $ 0.38 $ 0.31 $ 1.12
Per diluted share:
Netincome ............................... $ 0.15 $ 0.27 $ 0.36 $ 0.30 $ 1.08
Quarterly revenues reported in the table above have been reclassified from prior quarter Form 10-Q filings
to reflect the reclassification of certain marketing and reservation fund revenues. The reclassification of revenues
had no effect on reported operating income, income before income taxes, net income or earnings per share.
The matters which effect the comparability of our quarterly results include seasonality, the reversal of
reserves for income tax contingencies in the third and fourth quarter of 2005 and 2004, tax provisions for the
repatriation of foreign earnings in the third quarter of 2005 and the loss on extinguishment of debt in the third
quarter 2004.
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