SCHN 2017 Annual Report

93 / Schnitzer Steel Industries, Inc. Form 10-K 2017 Quarterly Financial Data (Unaudited) In the opinion of management, this unaudited quarterly financial summary includes all adjustments necessary for a fair statement of the results for the periods represented (in thousands, except per share amounts): Fiscal 2017 First Second Third Fourth Revenues $ 334,161 $ 382,084 $ 477,088 $ 494,258 Cost of goods sold $ 295,892 $ 326,804 $ 411,109 $ 430,703 Operating income $ 587 $ 14,171 $ 19,147 $ 22,108 Loss from discontinued operations, net of tax $ (53) $ (95) $ (127) $ (114) Net income (loss) attributable to SSI $ (1,326) $ 11,037 $ 16,565 $ 18,235 Basic net income (loss) per share attributable to SSI $ (0.05) $ 0.40 $ 0.60 $ 0.66 Diluted net income (loss) per share attributable to SSI $ (0.05) $ 0.40 $ 0.60 $ 0.64 Fiscal 2016 First Second Third Fourth Revenues $ 321,198 $ 289,077 $ 351,604 $ 390,664 Cost of goods sold $ 284,854 $ 259,670 $ 294,738 $ 336,726 Operating income (loss) $ (4,028) $ (37,076) $ 14,886 $ 18,376 Loss from discontinued operations, net of tax $ (65) $ (1,024) $ (116) $ (143) Net income (loss) attributable to SSI $ (5,296) $ (41,245) $ 11,000 $ 16,132 Basic net income (loss) per share attributable to SSI $ (0.20) $ (1.52) $ 0.40 $ 0.59 Diluted net income (loss) per share attributable to SSI $ (0.20) $ (1.52) $ 0.40 $ 0.58 ___________________________ The sum of quarterly amounts may not agree to the full-year equivalent due to rounding. In the second quarter of fiscal 2016, operating results included a goodwill impairment charge of $9 million, other asset impairment charges of $18 million and restructuring charges and other exit-related activities of $5 million. In the fourth quarter of fiscal 2016, operating results included other asset impairment charges of $2 million and an insurance reimbursement gain of $6 million. See Note 2 - Summary of SignificantAccounting Policies, Note 6 - Goodwill andOther IntangibleAssets, net, Note 8 - Discontinued Operations, and Note 9 - Commitments and Contingencies.