Item 8. Financial Statements and Supplementary Data
Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Quarterly Financial Data (Unaudited)
The following table presents our unaudited quarterly consolidated results of operations for each of the eight quarters in the two-year period ended December 31, 2020. Upon the completed Spin-Off on October 1, 2019, Pennant's historical financial results for periods prior to the Spin-Off were reflected in our consolidated financial statements as discontinued operations for all periods presented below. The unaudited quarterly consolidated information has been derived from our unaudited quarterly financial statements on Forms 10-Q, which were prepared on the same basis as our audited consolidated financial statements. You should read the following table presenting our quarterly consolidated results of operations in conjunction with our audited consolidated financial statements and the related notes included elsewhere in this Annual Report on Form 10-K. The operating results for any quarter are not necessarily indicative of the operating results for any future period.
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Dec. 31, Sept. 30, June 30, Mar. 31, Dec. 31, Sept. 30, June 30, Mar. 31,
2020 2020 2020 2020 2019 2019 2019 2019
(In thousands, except per share data)
Revenue $ 629,029 $ 599,255 $ 584,699 $ 589,613 $ 560,191 $ 512,109 $ 492,916 $ 471,308
Cost of services 493,823 465,108 451,749 454,521 443,382 410,516 394,741 371,989
Total expenses 573,170 544,186 529,265 532,820 520,498 481,310 464,177 441,359
Income from operations 55,859 55,069 55,434 56,793 39,693 30,799 28,739 29,949
Net income from continuing operations 46,162 43,313 40,688 41,201 27,326 22,538 20,784 21,565
Net income from discontinued operations — — — — — 5,290 8,141 6,042
Net income 46,162 43,313 40,688 41,201 27,326 27,828 28,925 27,607
Net (loss)/income attributable to noncontrolling interests in continuing operations (159) 253 440 352 (68) 390 116 85
Net income attributable to noncontrolling interests in discontinued operations — — — — — 279 200 150
Net income attributable to The Ensign Group, Inc. $ 46,321 $ 43,060 $ 40,248 $ 40,849 $ 27,394 $ 27,159 $ 28,609 $ 27,372
Net income from continuing operations attributable to the Ensign Group, Inc. $ 46,321 $ 43,060 $ 40,248 $ 40,849 $ 27,394 $ 22,148 $ 20,668 $ 21,480
Net income from discontinued operations — — — — — 5,011 7,941 5,892
Net income per share attributable to The Ensign Group, Inc. $ 46,321 $ 43,060 $ 40,248 $ 40,849 $ 27,394 $ 27,159 $ 28,609 $ 27,372
Basic:
Continuing operations $ 0.86 $ 0.81 $ 0.76 $ 0.76 $ 0.51 $ 0.41 $ 0.39 $ 0.41
Discontinued operations — — — — — 0.09 0.15 0.11
Basic income per share attributable to The Ensign Group, Inc. $ 0.86 $ 0.81 $ 0.76 $ 0.76 $ 0.51 $ 0.50 $ 0.54 $ 0.52
Diluted:
Continuing operations $ 0.82 $ 0.77 $ 0.73 $ 0.73 $ 0.49 $ 0.39 $ 0.37 $ 0.39
Discontinued operations — — — — — 0.09 0.14 0.10
Diluted income per share attributable to The Ensign Group, Inc. $ 0.82 $ 0.77 $ 0.73 $ 0.73 $ 0.49 $ 0.48 $ 0.51 $ 0.49
Weighted average common shares outstanding:
Basic 53,835 53,328 53,094 53,475 53,397 53,941 53,408 53,081
Diluted 56,307 55,713 55,181 55,796 55,760 56,364 56,078 55,698
(
The additional information required by this Item 8 is incorporated herein by reference to the financial statements set forth in Item 15 of this report, Exhibits, Financial Statements and Schedules .
Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURES
None.
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