Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Information (unaudited)

v3.3.1.900
Quarterly Financial Information (unaudited)
12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information (unaudited)

11. Quarterly Financial Information (unaudited)

The following table reflects the quarterly results of operations for the years ended December 31, 2015 and 2014 (dollars in thousands).

 

    Quarter ended  
    December 31, 2015     September 30, 2015     June 30, 2015     March 31, 2015  

Operating revenues

  $ 21,823      $ 21,375      $ 20,688      $ 19,880   

Operating expenses

    12,970        13,643        12,595        11,757   

Other expense

    (6,286     (7,828     (7,662     (7,429
 

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

    2,567        (96     431        694   

Dividends attributable to preferred and senior common stock

    (1,284     (1,286     (1,284     (1,247
 

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) available (attributable) to common stockholders

    1,283 (1)      (1,382 ) (2)      (853     (553

Net income (loss) available (attributable to common stockholders - basic & diluted

  $ 0.06      $ (0.06   $ (0.04   $ (0.03
    Quarter ended  
    December 31, 2014     September 30, 2014     June 30, 2014     March 31, 2014  

Operating revenues

  $ 19,216      $ 19,014      $ 18,390      $ 17,136   

Operating expenses

    10,970        11,457        11,243        23,736   

Other expense

    (2,082     (7,328     (5,928     (6,914
 

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

    6,164        229        1,219        (13,514

Dividends attributable to preferred and senior common stock

    (1,220     (1,160     (1,133     (1,123
 

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) available (attributable) to common stockholders

    4,944  (3)      (931     86        (14,637

Net income (loss) available (attributable to common stockholders - basic & diluted

  $ 0.36      $ (0.05   $ 0.01      $ (0.93

 

(1) Includes $1.5 million from gains on sale of real estate during the three months ended December 31, 2015.
(2) Includes a $0.6 million impairment loss recorded during the three months ended September 30, 2015.
(3) Includes a $5.3 million gain on debt extinguishment recorded during the three months ended December 31, 2014.
(4) Includes a $14.0 million impairment loss recorded during the three months ended March 31, 2014.