QUANTA SERVICES INC, QUANTA SERVICES MANAGEMENT ...

QUANTA SERVICES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
16. QUARTERLY FINANCIAL DATA (UNAUDITED):
The table below sets forth the unaudited consolidated operating results by quarter for the years ended
December 31, 2011 and 2010 (in thousands, except per share information).
For the Three Months Ended
March 31, June 30, September 30, December 31,
2011:
Revenues ............................... $848,959 $1,010,914 $1,250,819 $1,513,137
Gross profit ............................. 70,891 154,090 194,690 200,928
Net income (loss) ........................
Net income (loss) attributable to common
(16,305) 34,313 55,600 70,808
stock ................................
Basic earnings (loss) per share attributable to
(17,594) 31,801 51,994 66,314
common stock .........................
Diluted earnings (loss) per share attributable to
$ (0.08) $ 0.15 $ 0.25 $ 0.32
common stock .........................
2010:
$ (0.08) $ 0.15 $ 0.25 $ 0.32
Revenues ............................... $748,283 $ 870,502 $1,206,007 $1,106,426
Gross profit ............................. 129,142 156,037 189,994 159,250
Net income ............................. 24,100 33,323 63,700 34,434
Net income attributable to common stock .....
Basic earnings per share attributable to common
23,744 32,986 62,780 33,666
stock ................................
Diluted earnings per share attributable to
$ 0.11 $ 0.16 $ 0.30 $ 0.16
common stock ......................... $ 0.11 $ 0.16 $ 0.30 $ 0.16
The sum of the individual quarterly earnings per share amounts may not equal year-to-date earnings per
share as each period’s computation is based on the weighted average number of shares outstanding during the
period.
17. SUBSEQUENT EVENTS:
On January 9, 2012, Quanta acquired the assets, operations and business of Crux Subsurface, Inc. (Crux),
which is a geotechnical exploration and construction business providing contract drilling, micropile foundation
and related services. The aggregate consideration paid consisted of approximately $27.5 million in cash, 856,105
shares of Quanta common stock valued at approximately $16.7 million and the repayment of $4.2 million in debt.
As this transaction was effective January 9, 2012, the results of the acquired business will be included in
Quanta’s consolidated financial statements beginning on such date. This acquisition enables Quanta to further
enhance its electric power infrastructure service offerings. The financial results of Crux will generally be
included in Quanta’s Electric Power Infrastructure Services segment. Due to the timing of the acquisition, the
application of purchase price accounting has not yet been completed.
On January 4, 2012, Quanta acquired Microline Technology Corporation and its sister companies, Inline
Devices, LLC and IonEarth, LLC (collectively Microline), which together are an engineering, research and
development business that provides natural gas and oil downhole technical and engineering support services and
develops and manufactures related inspection tools, along with replacement parts and repair services. The
aggregate consideration paid for Microline consisted of approximately $6.8 million in cash, 320,619 shares of
Quanta common stock valued at approximately $6.4 million and the repayment of $0.9 million in debt. As this
transaction was effective January 4, 2012, the results of Microline will be included in Quanta’s consolidated
financial statements beginning on such date. This acquisition enables Quanta to further enhance its natural gas
and pipeline infrastructure service offerings. Microline’s financial results will generally be included in Quanta’s
Natural Gas and Pipeline Infrastructure Services segment. Due to the timing of the acquisition, the application of
purchase price accounting has not yet been completed.
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