| 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).
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Quarter ended |
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December 31, 2012 |
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September 30, 2012 |
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June 30, 2012 |
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March 31, 2012 |
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Operating revenues
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$ |
13,790 |
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$ |
12,970 |
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$ |
12,410 |
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$ |
12,100 |
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Operating expenses
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6,971 |
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6,100 |
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6,027 |
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5,797 |
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Other expense
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(6,205 |
) |
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(5,878 |
) |
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(5,529 |
) |
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(5,002 |
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Net income
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614 |
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992 |
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854 |
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1,301 |
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Dividends attributable to preferred and senior common stock
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(1,065 |
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(1,053 |
) |
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(1,046 |
) |
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(1,042 |
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Net (loss) income available to common stockholders
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(451 |
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(61 |
) |
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(192 |
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259 |
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Net (loss) income available to common stockholders—basic & diluted
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$ |
(0.04 |
) |
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$ |
(0.01 |
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$ |
(0.02 |
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$ |
0.02 |
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Weighted average shares outstanding—basic
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10,976,992 |
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10,945,379 |
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10,945,379 |
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10,945,379 |
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Weighted average shares outstanding—diluted
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10,976,992 |
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10,945,379 |
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10,945,379 |
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11,006,597 |
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Quarter ended |
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December 31, 2011 |
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September 30, 2011 |
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June 30, 2011 |
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March 31, 2011 |
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Operating revenues
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$ |
11,468 |
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$ |
11,173 |
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$ |
10,816 |
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$ |
10,519 |
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Operating expenses
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5,895 |
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5,183 |
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5,255 |
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4,937 |
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Other expense
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(4,457 |
) |
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(4,242 |
) |
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(4,191 |
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(4,102 |
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Net income
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1,116 |
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|
1,748 |
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1,370 |
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1,480 |
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Dividends attributable to preferred and senior common stock
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(1,040 |
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(1,039 |
) |
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(1,039 |
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(1,038 |
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Net income available to common stockholders
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76 |
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|
709 |
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|
331 |
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|
442 |
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Net (loss) income available to common stockholders—basic & diluted
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$ |
0.01 |
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$ |
0.06 |
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$ |
0.03 |
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$ |
0.05 |
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Weighted average shares outstanding—basic
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10,945,379 |
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10,935,922 |
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9,782,368 |
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9,258,018 |
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Weighted average shares outstanding—diluted
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10,997,231 |
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10,987,601 |
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9,834,047 |
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9,309,697 |
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