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Condensed Consolidated Statements of Comprehensive Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES        
Natural gas operations $ 11,355,099 $ 12,542,698 $ 77,402,612 $ 88,327,066
Marketing and production 1,728,716 1,072,273 5,460,246 7,284,543
Total revenues 13,083,815 13,614,971 82,862,858 95,611,609
COST OF SALES        
Natural gas purchased 4,583,203 5,739,430 45,918,641 56,257,668
Marketing and production 1,639,912 860,900 5,018,370 6,538,023
Total cost of sales 6,223,115 6,600,330 50,937,011 62,795,691
GROSS MARGIN 6,860,700 7,014,641 31,925,847 32,815,918
OPERATING EXPENSES        
Distribution, general, and administrative 6,806,138 6,321,270 19,792,959 19,018,069
Maintenance 256,483 295,762 871,714 920,308
Depreciation and amortization 1,790,111 1,830,287 5,327,327 5,178,270
Accretion 0 9,255 21,077 36,533
Provision for doubtful accounts 34,713 7,626 133,041 829,814
Taxes other than income 1,014,908 901,329 3,023,365 2,861,724
Total operating expenses 9,902,353 9,365,529 29,169,483 28,844,718
OPERATING INCOME (LOSS) (3,041,653) (2,350,888) 2,756,364 3,971,200
Loss from unconsolidated affiliate 0 0 0 (977)
Other income, net 277,402 408,821 593,429 617,656
Gain on sale of marketable securities 0 183,371 0 183,371
Acquisition expense 0 0 0 (7,197)
Interest expense (811,765) (764,367) (2,566,886) (2,334,435)
Income (loss) before income taxes (3,576,016) (2,523,063) 782,907 2,429,618
Income tax benefit (expense) 1,312,049 1,008,494 (342,191) (901,141)
INCOME (LOSS) FROM CONTINUING OPERATIONS (2,263,967) (1,514,569) 440,716 1,528,477
Discontinued operations, net of tax 3,394,981 34,825 4,044,776 581,652
NET INCOME (LOSS) $ 1,131,014 $ (1,479,744) $ 4,485,492 $ 2,110,129
Basic weighted shares outstanding (in shares) 10,494,130 10,487,511 10,490,736 10,475,213
Dilutive effect of stock options (in shares) 1,134 0 1,173 0
Diluted weighted shares outstanding (in shares) 10,495,264 10,487,511 10,491,909 10,475,213
BASIC AND DILUTED EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) $ (0.22) $ (0.14) $ 0.04 $ 0.15
Discontinued operations (in dollars per share) 0.32 0 0.39 0.05
Net income (loss) per share (in dollars per share) 0.10 (0.14) 0.43 0.20
Dividends declared per common share (see Note 15) (in dollars per share) $ 0.135 $ 0.135 $ 0.270 $ 0.405
COMPREHENSIVE INCOME (LOSS):        
Net income (loss) $ 1,131,014 $ (1,479,744) $ 4,485,492 $ 2,110,129
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX        
Unrealized gain/(loss) on available-for-sale securities, net of tax of $0, $6,066, $0, and $7,689, respectively 0 10,584 0 14,811
Unrealized gain on available-for-sale securities transferred to earnings, net of tax of $0, $63,651, $0 and $63,651, respectively 0 (119,720) 0 (119,720)
Other comprehensive income, net of tax 0 (109,136) 0 (104,909)
COMPREHENSIVE INCOME (LOSS) $ 1,131,014 $ (1,588,880) $ 4,485,492 $ 2,005,220