| 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).
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Quarter ended |
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December 31, 2015 |
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September 30, 2015 |
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June 30, 2015 |
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March 31, 2015 |
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Operating revenues
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$ |
21,823 |
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$ |
21,375 |
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$ |
20,688 |
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$ |
19,880 |
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Operating expenses
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12,970 |
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13,643 |
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12,595 |
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11,757 |
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Other expense
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(6,286 |
) |
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(7,828 |
) |
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(7,662 |
) |
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(7,429 |
) |
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Net income (loss)
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2,567 |
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(96 |
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431 |
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694 |
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Dividends attributable to preferred and senior common stock
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(1,284 |
) |
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(1,286 |
) |
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(1,284 |
) |
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(1,247 |
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Net income (loss) available (attributable) to common
stockholders
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1,283 |
(1) |
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(1,382 |
) (2) |
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(853 |
) |
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(553 |
) |
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Net income (loss) available (attributable to common stockholders -
basic & diluted
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$ |
0.06 |
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$ |
(0.06 |
) |
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$ |
(0.04 |
) |
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$ |
(0.03 |
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Quarter ended |
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December 31, 2014 |
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September 30, 2014 |
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June 30, 2014 |
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March 31, 2014 |
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Operating revenues
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$ |
19,216 |
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$ |
19,014 |
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$ |
18,390 |
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$ |
17,136 |
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Operating expenses
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10,970 |
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11,457 |
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11,243 |
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23,736 |
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Other expense
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(2,082 |
) |
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(7,328 |
) |
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(5,928 |
) |
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(6,914 |
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Net income (loss)
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6,164 |
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229 |
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1,219 |
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(13,514 |
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Dividends attributable to preferred and senior common stock
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(1,220 |
) |
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(1,160 |
) |
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(1,133 |
) |
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(1,123 |
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Net income (loss) available (attributable) to common
stockholders
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4,944 |
(3) |
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(931 |
) |
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86 |
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(14,637 |
) |
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Net income (loss) available (attributable to common stockholders -
basic & diluted
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$ |
0.36 |
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$ |
(0.05 |
) |
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$ |
0.01 |
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$ |
(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. |
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