| Quarterly Financial Information (unaudited) |
QUARTERLY FINANCIAL INFORMATION (unaudited)
The following table reflects the quarterly results of operations for the years ended December 31, 2018, and 2017 (dollars in thousands, except per share data):
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Fiscal Year 2018: |
|
Quarter Ended |
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March 31, 2018 |
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June 30, 2018 |
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September 30, 2018 |
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December 31, 2018 |
Operating revenues |
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$ |
9,245 |
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$ |
11,394 |
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|
$ |
8,017 |
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$ |
8,031 |
|
Operating expenses |
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(6,459 |
) |
|
(8,922 |
) |
|
(4,672 |
) |
|
(4,522 |
) |
Other (expenses) income |
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(3,104 |
) |
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(4,324 |
) |
|
2,675 |
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(4,593 |
) |
Net (loss) income |
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(318 |
) |
|
(1,852 |
) |
|
6,020 |
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|
(1,084 |
) |
Net loss (income) attributable to non-controlling interests |
|
21 |
|
|
110 |
|
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(337 |
) |
|
69 |
|
Net (loss) income attributable to the Company |
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(297 |
) |
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(1,742 |
) |
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5,683 |
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(1,015 |
) |
Dividends declared on Series B cumulative redeemable preferred stock |
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— |
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(3 |
) |
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(90 |
) |
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(286 |
) |
Net (loss) income attributable to common stockholders |
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$ |
(297 |
) |
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$ |
(1,745 |
) |
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$ |
5,593 |
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$ |
(1,301 |
) |
Earnings (loss) per common share – basic and diluted |
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$ |
(0.02 |
) |
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$ |
(0.11 |
) |
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$ |
0.35 |
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$ |
(0.07 |
) |
Weighted average shares of common stock outstanding – basic and diluted |
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13,957,732 |
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15,506,512 |
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16,057,957 |
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16,457,600 |
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Fiscal Year 2017: |
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Quarter Ended |
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March 31, 2017 |
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June 30, 2017 |
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September 30, 2017 |
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December 31, 2017 |
Operating revenues |
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$ |
5,750 |
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$ |
5,996 |
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$ |
6,564 |
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$ |
6,812 |
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Operating expenses |
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(3,146 |
) |
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(3,090 |
) |
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(3,645 |
) |
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(3,865 |
) |
Other expenses |
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(2,431 |
) |
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(2,651 |
) |
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(3,166 |
) |
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(3,162 |
) |
Net income (loss) |
|
173 |
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|
255 |
|
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(247 |
) |
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(215 |
) |
Net (income) loss attributable to non-controlling interests |
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(21 |
) |
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(28 |
) |
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26 |
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26 |
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Net income (loss) attributable to the Company |
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$ |
152 |
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$ |
227 |
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$ |
(221 |
) |
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$ |
(189 |
) |
Earnings (loss) per common share – basic and diluted |
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$ |
0.01 |
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$ |
0.02 |
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$ |
(0.02 |
) |
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$ |
(0.01 |
) |
Weighted average shares of common stock outstanding – basic and diluted |
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10,395,736 |
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11,850,624 |
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12,271,925 |
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13,666,560 |
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