| Quarterly Financial Information (unaudited) |
9. Quarterly Financial Information (unaudited)
The following table reflects the quarterly results of operations
for the years ended December 31, 2013 and 2012 (dollars in
thousands).
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Quarter ended |
|
| |
|
December 31, 2013 |
|
|
September 30, 2013 |
|
|
June 30, 2013 |
|
|
March 31, 2013 |
|
|
|
|
|
|
|
Operating revenues
|
|
$ |
16,860 |
|
|
$ |
16,190 |
|
|
$ |
14,258 |
|
|
$ |
14,035 |
|
|
Operating expenses
|
|
|
9,542 |
|
|
|
8,639 |
|
|
|
7,369 |
|
|
|
7,273 |
|
|
Other expense
|
|
|
(6,984 |
) |
|
|
(7,242 |
) |
|
|
(6,438 |
) |
|
|
(6,329 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
334 |
|
|
|
309 |
|
|
|
451 |
|
|
|
433 |
|
|
Dividends attributable to preferred and senior common stock
|
|
|
(1,120 |
) |
|
|
(1,106 |
) |
|
|
(1,092 |
) |
|
|
(1,076 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss available to common stockholders
|
|
|
(786 |
) |
|
|
(797 |
) |
|
|
(641 |
) |
|
|
(643 |
) |
|
|
|
|
|
|
Loss income available to common stockholders - basic &
diluted
|
|
$ |
(0.05 |
) |
|
$ |
(0.06 |
) |
|
$ |
(0.05 |
) |
|
$ |
(0.06 |
) |
|
|
|
|
|
|
Weighted average shares outstanding - basic
|
|
|
14,798,950 |
|
|
|
14,196,423 |
|
|
|
12,380,402 |
|
|
|
11,230,647 |
|
|
Weighted average shares outstanding - diluted
|
|
|
14,798,950 |
|
|
|
14,196,423 |
|
|
|
12,380,402 |
|
|
|
11,230,647 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
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 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 |
|
|