Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Information (Unaudited)

v2.4.0.6
Quarterly Financial Information (Unaudited)
12 Months Ended
Dec. 31, 2012
Quarterly Financial Information [Abstract]  
Quarterly Financial Information (unaudited)

9. Quarterly Financial Information (unaudited)

The following table reflects the quarterly results of operations for the years ended December 31, 2012 and 2011 (dollars in thousands).

 

                                 
    Quarter ended  
    December 31, 2012     September 30, 2012     June 30, 2012     March 31, 2012  

Operating revenues

  $ 13,790     $ 12,970     $ 12,410     $ 12,100  

Operating expenses

    6,971       6,100       6,027       5,797  

Other expense

    (6,205     (5,878     (5,529     (5,002
   

 

 

   

 

 

   

 

 

   

 

 

 

Net income

    614       992       854       1,301  

Dividends attributable to preferred and senior common stock

    (1,065     (1,053     (1,046     (1,042
   

 

 

   

 

 

   

 

 

   

 

 

 

Net (loss) income available to common stockholders

    (451     (61     (192     259  

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

  $ (0.04   $ (0.01   $ (0.02   $ 0.02  

Weighted average shares outstanding—basic

    10,976,992       10,945,379       10,945,379       10,945,379  

Weighted average shares outstanding—diluted

    10,976,992       10,945,379       10,945,379       11,006,597  
   
    Quarter ended  
    December 31, 2011     September 30, 2011     June 30, 2011     March 31, 2011  

Operating revenues

  $ 11,468     $ 11,173     $ 10,816     $ 10,519  

Operating expenses

    5,895       5,183       5,255       4,937  

Other expense

    (4,457     (4,242     (4,191     (4,102
   

 

 

   

 

 

   

 

 

   

 

 

 

Net income

    1,116       1,748       1,370       1,480  

Dividends attributable to preferred and senior common stock

    (1,040     (1,039     (1,039     (1,038
   

 

 

   

 

 

   

 

 

   

 

 

 

Net income available to common stockholders

    76       709       331       442  

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

  $ 0.01     $ 0.06     $ 0.03     $ 0.05  

Weighted average shares outstanding—basic

    10,945,379       10,935,922       9,782,368       9,258,018  

Weighted average shares outstanding—diluted

    10,997,231       10,987,601       9,834,047       9,309,697