Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (Unaudited)

18.

Selected Quarterly Financial Data (unaudited)

Interim results are not necessarily indicative of fiscal year performance because of the impact of seasonal and short-term variations. Selected quarterly financial data is summarized as follows (in thousands, except per share data).

 

 

 

Total
Revenues

 

 

Income 
before
Income Taxes

 

 

Net Income

 

 

Basic and
Diluted Net
Income 
per Share

 

Year Ended December 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

$

67,928

 

 

$

3,076

 

 

$

21,968

 

 

$

0.54

 

September 30, 2014

 

 

65,604

 

 

 

2,377

 

 

 

2,120

 

 

 

0.05

 

June 30, 2014

 

 

67,120

 

 

 

3,723

 

 

 

3,469

 

 

 

0.08

 

March 31, 2014

 

 

62,542

 

 

 

547

 

 

 

511

 

 

 

0.01

 

Year Ended December 31, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

$

59,152

 

 

$

3,363

 

 

$

3,158

 

 

$

0.07

 

September 30, 2013

 

 

59,578

 

 

 

2,096

 

 

 

1,932

 

 

 

0.05

 

June 30, 2013

 

 

62,493

 

 

 

2,254

 

 

 

2,066

 

 

 

0.05

 

March 31, 2013

 

 

59,289

 

 

 

2,117

 

 

 

2,024

 

 

 

0.05

 

Income before income taxes for the quarter ended December 31, 2014 of $3.1 million included $2.6 million of favorable development in the Company’s estimate of unpaid loss and loss adjustment expenses.

Net income for the quarter ended December 31, 2014 of $22.0 million included $20.2 million in benefit for income taxes resulting from the change in the deferred tax valuation allowance.

Income before income taxes for the quarter ended December 31, 2013 of $3.4 million included $2.6 million of favorable development in the Company’s estimate of unpaid loss and loss adjustment expenses.