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53
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Unaudited quarterly financial data for each of the eight quarters in the two-year period ended December 31, 2014 is as follows:
2014 (In thousands, except per share data) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 600,369 $ 549,170 $ 552,864 $ 600,600
Income from continuing operations before income taxes . . . . . . $ 37,962 $ 27,347 $ 29,731 $ 72,094
Income tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (14,076) (5,537) (11,841) (28,294)
Income from continuing operations . . . . . . . . . . . . . . . . . . . . . . . 23,886 21,810 17,890 43,800
Loss from discontinued operations, net of tax . . . . . . . . . . . . . . . (711) (57) — —
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 23,175 $ 21,753 $ 17,890 $ 43,800
Basic earnings per share from continuing operations . . . . . . . . . $ 1.00 $ 1.12 $ 0.95 $ 2.38
Basic loss per share from discontinued operations . . . . . . . . . . . (0.03) — — —
Basic earnings per share. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.97 $ 1.12 $ 0.95 $ 2.38
Diluted income per share from continuing operations. . . . . . . . . $ 0.96 $ 1.08 $ 0.93 $ 2.35
Diluted loss per share from discontinued operations . . . . . . . . . . (0.02) — — —
Diluted earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.94 $ 1.08 $ 0.93 $ 2.35
Shares used in basic per share calculations . . . . . . . . . . . . . . . . . 23,944 19,541 18,798 18,412
Shares used in diluted per share calculations. . . . . . . . . . . . . . . . 24,775 20,181 19,147 18,660
2013 (In thousands, except per share data) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 573,307 $ 553,050 $ 586,539 $ 593,705
Income from continuing operations before income taxes . . . . . . $ 44,162 $ 53,495 $ 102,324 $ 42,587
Income tax benefit (expense) . . . . . . . . . . . . . . . . . . . . . . . . . . . . (16,155) (3,082) (15,529) 289
Income from continuing operations . . . . . . . . . . . . . . . . . . . . . . . 28,007 50,413 86,795 42,876
Loss from discontinued operations, net of tax . . . . . . . . . . . . . . . (5,403) (3,556) (4,139) (20,201)
Net income(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 22,604 $ 46,857 $ 82,656 $ 22,675
Basic earnings per share from continuing operations . . . . . . . . . $ 1.02 $ 1.84 $ 3.19 $ 1.61
Basic loss per share from discontinued operations . . . . . . . . . . . (0.20) (0.13) (0.16) (0.76)
Basic earnings per share. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.82 $ 1.71 $ 3.03 $ 0.85
Diluted earnings per share from continuing operations . . . . . . . . $ 0.97 $ 1.77 $ 3.10 $ 1.55
Diluted loss per share from discontinued operations . . . . . . . . . . (0.19) (0.13) (0.15) (0.73)
Diluted earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.78 $ 1.64 $ 2.95 $ 0.82
Shares used in basic per share calculations . . . . . . . . . . . . . . . . . 27,493 27,438 27,244 26,696
Shares used in diluted per share calculations. . . . . . . . . . . . . . . . 28,937 28,537 28,016 27,598
(1) Net income in the third quarter of 2013 includes a $68.4 million gain on the re-measurement of our previously held
equity interest in ecoATM to its acquisition date fair value.