XML 60 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
REVENUES:        
Real estate $ 10,921 $ 15,873 $ 29,303 $ 29,005
Financial fund management 2,991 5,252 15,874 21,194
Commercial finance (128) 6,464 2,051 14,417
Revenues 13,784 27,589 47,228 64,616
COSTS AND EXPENSES:        
Real estate 7,386 6,727 21,985 18,276
Financial fund management 2,994 4,234 13,177 16,914
Commercial finance 118 3,709 2,311 11,675
Restructuring expenses 0 0 365 0
General and administrative 2,567 2,614 7,930 8,627
Gain on sale of leases and loans 0 (94) (37) (357)
Provision for credit losses 5,698 3,476 10,910 7,801
Depreciation and amortization 528 3,159 3,124 7,205
Costs and Expenses 19,291 23,825 59,765 70,141
OPERATING (LOSS) INCOME (5,507) 3,764 (12,537) (5,525)
OTHER INCOME (EXPENSE):        
Gain on deconsolidation and sale of subsidiaries 54,682 0 63,431 0
Loss on extinguishment of debt 0 0 (2,190) 0
Gain on sale of management contract 0 0 0 6,520
Gain on extinguishment of servicing and repurchase liabilities 0 0 0 4,426
Gain (loss) on sale of investment securities, net 0 82 63 (1,282)
Impairment loss recognized in earnings 0 0 (74) 0
Interest expense (578) (4,276) (4,197) (10,812)
Other income, net 362 696 1,546 1,985
Other income (expense) 54,466 (3,498) 58,579 837
Income (loss) from continuing operations before taxes 48,959 266 46,042 (4,688)
Income tax provision (benefit) 18,665 151 17,496 (1,781)
Income (loss) from continuing operations 30,294 115 28,546 (2,907)
Loss from discontinued operations, net of tax (14) (23) (50) (2,176)
Net income (loss) 30,280 92 28,496 (5,083)
Net income attributable to noncontrolling interests (45) (503) (384) (161)
Net income (loss) attributable to common shareholders 30,235 (411) 28,112 (5,244)
Amounts attributable to common shareholders:        
Income (loss) from continuing operations 30,249 (388) 28,162 (3,068)
Discontinued operations (14) (23) (50) (2,176)
Net income (loss) $ 30,235 $ (411) $ 28,112 $ (5,244)
Basic earnings (loss) per share:        
Continuing operations (in dollars per share) $ 1.53 $ (0.02) $ 1.43 $ (0.16)
Discontinued operations (in dollars per share) $ 0 $ 0 $ 0 $ (0.11)
Net income (loss) (in dollars per share) $ 1.53 $ (0.02) $ 1.43 $ (0.27)
Weighted average shares outstanding (in shares) 19,815 19,741 19,618 19,389
Diluted earnings (loss) per share:        
Continuing operations (in dollars per share) $ 1.44 $ (0.02) $ 1.37 $ (0.16)
Discontinued operations (in dollars per share) $ 0 $ 0 $ 0 $ (0.11)
Net income (loss) (in dollars per share) $ 1.44 $ (0.02) $ 1.37 $ (0.27)
Weighted average shares outstanding (in shares) 21,036 19,741 20,464 19,389
Dividends declared per common share (in dollars per share) $ 0.03 $ 0.03 $ 0.09 $ 0.09