World Fuel Services 2013 Annual Report Download - page 87

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12. Summary Quarterly Information (Unaudited)
The following is a summary of the unaudited quarterly results for 2013 and 2012 (in thousands, except earnings per share data):
March 31, June 30, September 30, December 31,
2013 2013 2013 2013
Revenue $10,184,029 $10,479,604 $10,493,661 $10,404,653
Gross profit $ 182,379 $ 188,458 $ 186,341 $ 195,580
Net income including noncontrolling interest $ 51,111 $ 52,357 $ 50,297 $ 53,395
Net income attributable to World Fuel $ 48,725 $ 51,016 $ 51,472 $ 51,862
Basic earnings per common share (2) $ 0.68 $ 0.71 $ 0.72 $ 0.73
Diluted earnings per common share (2) $ 0.68 $ 0.71 $ 0.72 $ 0.73
March 31, June 30, September 30, December 31,
2012 2012 2012 (1) 2012 (1)
Revenue $9,479,055 $9,618,797 $9,911,673 $9,935,813
Gross profit $ 157,235 $ 172,123 $ 180,752 $ 163,337
Net income including noncontrolling interest $ 48,546 $ 54,882 $ 52,898 $ 45,025
Net income attributable to World Fuel $ 46,415 $ 48,600 $ 51,494 $ 42,836
Basic earnings per common share (2) $ 0.65 $ 0.68 $ 0.72 $ 0.60
Diluted earnings per common share (2) $ 0.65 $ 0.68 $ 0.72 $ 0.60
(1) Includes the CarterEnergy business operations since September 1, 2012 as a result of the acquisition.
(2) 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 and diluted earnings per share amounts reported.
13. Subsequent Event
In January 2014, we signed a definitive agreement to acquire Watson Petroleum Limited (‘‘Watson Petroleum’’), a leading distributor
of gasoline, diesel, heating oil, lubricants and other products and related services. Watson Petroleum is headquartered in Brinkworth,
England and is one of the largest fuel distributors in the United Kingdom. The transaction is subject to customary regulatory consents
and closing conditions and therefore there can be no assurance that we will be successful in closing the acquisition.
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