World Fuel Services 2011 Annual Report Download - page 109

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12. Summary Quarterly Information (Unaudited)
The following is a summary of the unaudited quarterly results for 2011 and 2010 (in thousands, except
earnings per share data):
March 31, June 30, September 30, December 31,
2011 (1) 2011 (1)(2) 2011 (1)(2) 2011 (1)(2)
Revenue $7,079,406 $8,708,709 $9,510,792 $9,323,947
Gross profit $ 136,768 $ 165,102 $ 170,847 $ 162,286
Net income including noncontrolling interest $ 41,657 $ 50,673 $ 53,842 $ 53,030
Net income attributable to World Fuel $ 41,109 $ 50,203 $ 52,655 $ 50,062
Basic earnings per share $ 0.59 $ 0.71 $ 0.74 $ 0.70
Diluted earnings per share (5) $ 0.58 $ 0.70 $ 0.74 $ 0.70
March 31, June 30, September 30, December 31,
2010 2010 2010 (3) 2010 (3)(4)
Revenue $3,918,021 $4,397,275 $4,987,074 $5,828,777
Gross profit $ 98,818 $ 107,569 $ 112,107 $ 123,647
Net income including noncontrolling interest $ 33,840 $ 37,051 $ 36,374 $ 39,238
Net income attributable to World Fuel $ 33,703 $ 36,977 $ 36,755 $ 39,430
Basic earnings per share (5) $ 0.57 $ 0.62 $ 0.61 $ 0.57
Diluted earnings per share (5) $ 0.56 $ 0.61 $ 0.60 $ 0.56
(1) Includes NCS business operations since March 1, 2011 as a result of the acquisition.
(2) Includes Ascent business operations since April 1, 2011 as a result of the acquisition.
(3) Includes the Lakeside business operations since July 1, 2010 as a result of the acquisition.
(4) Includes Western business operations since October 1, 2010, Gib Oil business operations since
December 1, 2010 and Hiller business operations since December 31, 2010 as a result of the
acquisitions.
(5) Basic and diluted earnings per share are computed independently for each quarter and the full year
based upon respective weighted average shares outstanding. Therefore, the sum of the quarterly
basic and diluted earnings per share amounts may not equal the annual basic earnings per share
amount reported.
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