• Filing Date: 2018-03-07
  • Form Type: 10-K
  • Description: Annual report
v3.8.0.1
Quarterly Results of Operations
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results of Operations

Note 23 — Quarterly Results of Operations (Unaudited)

The tables below summarize unaudited quarterly results of operations for 2017, 2016 and 2015.

 

     Three Months Ended  
     03/31/17      06/30/17      09/30/17      12/31/17  

Net premiums earned

   $ 63,036      $ 61,847      $ 43,964      $ 55,771  

Total revenue

     67,713        67,580        47,490        61,623  

Losses and loss adjustment expenses

     25,529        27,665        89,231        23,204  

Policy acquisition and other underwriting expenses

     9,649        10,070        9,926        10,018  

Interest expense

     3,542        4,378        4,408        4,439  

Total expenses

     48,571        53,275        113,508        44,676  

Income (loss) before income taxes

     19,142        14,305        (66,018      16,947  

Net income (loss)

     12,020        9,542        (40,546      12,091  

Comprehensive income (loss)

     12,949        8,959        (38,792      11,914  

Earnings per share:

           

Basic

   $ 1.27      $ 1.05      $ (4.44    $ 1.37  

Diluted*

   $ 1.15      $ 0.93      $ (4.44    $ 1.14  

 

* During the quarter ended September 30, 2017, the convertible senior notes and stock options were antidilutive.

 

     Three Months Ended  
     03/31/16      06/30/16      09/30/16      12/31/16  

Net premiums earned

   $ 58,447      $ 58,528      $ 63,300      $ 63,352  

Total revenue

     60,747        61,520        69,808        72,371  

Losses and loss adjustment expenses

     27,080        26,272        25,909        45,406  

Policy acquisition and other underwriting expenses

     11,110        10,879        10,536        10,117  

Interest expense

     2,829        2,611        2,672        2,967  

Total expenses

     51,050        50,291        49,779        66,470  

Income before income taxes

     9,697        11,229        20,029        5,901  

Net income

     6,056        7,024        11,333        4,608  

Comprehensive income

     7,846        10,742        12,487        2,380  

Earnings per share:

           

Basic

   $ 0.60      $ 0.71      $ 1.17      $ 0.47  

Diluted*

   $ 0.60      $ 0.71      $ 1.10      $ 0.47  

 

* During the quarters ended March 31, 2016, June 30, 2016 and December 31, 2016, the convertible senior notes were antidilutive.

 

     Three Months Ended  
     03/31/15      06/30/15      09/30/15      12/31/15  

Net premiums earned

   $ 81,728      $ 76,387      $ 62,765      $ 61,626  

Total revenue

     82,210        79,068        61,262        63,412  

Losses and loss adjustment expenses

     19,039        20,565        26,200        21,420  

Policy acquisition and other underwriting expenses

     9,799        10,443        10,675        11,067  

Interest expense

     2,661        2,679        2,698        2,716  

Total expenses

     41,164        43,485        49,324        45,787  

Income before income taxes

     41,046        35,583        11,938        17,625  

Net income

     25,378        22,022        7,371        11,090  

Comprehensive income

     27,009        19,856        5,023        11,516  

Earnings per share:

           

Basic

   $ 2.50      $ 2.17      $ 0.72      $ 1.12  

Diluted

   $ 2.21      $ 1.93      $ 0.71      $ 1.05