XML 57 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statement of Comprehensive Income (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
REVENUES        
Natural gas operations $ 12,542,698 $ 11,500,163 $ 88,327,066 $ 64,779,596
Marketing and production 1,072,273 2,117,165 7,284,543 8,334,626
Total revenues 13,614,971 13,617,328 95,611,609 73,114,222
COST OF SALES        
Natural gas purchased 5,739,430 4,681,265 56,257,668 36,426,083
Marketing and production 860,900 1,701,554 6,538,023 6,794,511
Total cost of sales 6,600,330 6,382,819 62,795,691 43,220,594
GROSS MARGIN 7,014,641 7,234,509 32,815,918 29,893,628
OPERATING EXPENSES        
Distribution, general, and administrative 6,321,270 5,595,965 19,018,069 15,638,813
Maintenance 295,762 274,403 920,308 827,727
Depreciation and amortization 1,794,019 1,402,867 5,074,876 3,959,418
Accretion 45,523 44,411 139,927 130,530
Provision for doubtful accounts 7,626 13,558 829,814 37,115
Taxes other than income 901,329 944,411 2,861,724 2,606,160
Total operating expenses 9,365,529 8,275,615 28,844,718 23,199,763
OPERATING INCOME (LOSS) (2,350,888) (1,041,106) 3,971,200 6,693,865
Loss from unconsolidated affiliate 0 (980) (977) (5,007)
Other income, net 408,821 305,956 617,656 713,265
Gain on sale of marketable securities 183,371 0 183,371 0
Acquisition expense 0 (87,575) (7,197) (244,109)
Interest expense (764,367) (811,476) (2,334,435) (2,379,368)
Income (loss) before income taxes (2,523,063) (1,635,181) 2,429,618 4,778,646
Income tax benefit (expense) 1,008,494 785,135 (901,141) (1,724,239)
INCOME (LOSS) FROM CONTINUING OPERATIONS (1,514,569) (850,046) 1,528,477 3,054,407
Discontinued operations, net of tax 34,825 (154,292) 581,652 402,062
NET INCOME (LOSS) (1,479,744) (1,004,338) 2,110,129 3,456,469
Basic weighted shares outstanding (in shares) 10,487,511 10,054,558 10,475,213 8,974,584
Dilutive effect of stock based compensation (in shares) 0 0 0 903
Diluted weighted shares outstanding (in shares) 10,487,511 10,054,558 10,475,213 8,975,487
BASIC AND DILUTED EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) $ (0.14) $ (0.08) $ 0.15 $ 0.34
Discontinued operations (in dollars per share) $ 0 $ (0.02) $ 0.05 $ 0.05
Net income (loss) per share (in dollars per share) $ (0.14) $ (0.10) $ 0.20 $ 0.39
Weighted average dividends declared per common share (in dollars per share) $ 0.135 $ 0.139 $ 0.405 $ 0.341
COMPREHENSIVE INCOME:        
Net income (loss) (1,479,744) (1,004,338) 2,110,129 3,456,469
OTHER COMPREHENSIVE INCOME, NET OF TAX        
Unrealized gain on available-for-sale securities, net of tax of $6,066, $11,467, $7,689 and $15,571, respectively 10,584 18,908 14,811 25,114
Unrealized gain on available-for-sale securities transferred to earnings, net of tax of $63,651 (119,720) 0 (119,720) 0
Other comprehensive income, net of tax (109,136) 18,908 (104,909) 25,114
COMPREHENSIVE INCOME (LOSS) $ (1,588,880) $ (985,430) $ 2,005,220 $ 3,481,583