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UNAUDITED QUARTERLY FINANCIAL DATA
 12 Months Ended
Sep. 30, 2012
Quarterly Financial Information Disclosure [Abstract]  
UNAUDITED QUARTERLY FINANCIAL DATA
UNAUDITED QUARTERLY FINANCIAL DATA
The following sets forth the Company’s operating results by quarter (in thousands, except share data):

Quarterly Results for Fiscal 2012 (1)
December 31
 
March 31
 
June 30
 
September 30
Revenues
$
18,664

 
$
14,780

 
$
13,784

 
$
17,208

Operating loss
(3,465
)
 
(3,565
)
 
(5,507
)
 
(6,163
)
Income (loss) from continuing operations
583

 
(2,331
)
 
30,294

 
(2,306
)
Loss from discontinued operations
(20
)
 
(16
)
 
(14
)
 
(8
)
Net income (loss)
563

 
(2,347
)
 
30,280

 
(2,314
)
Add: net (income) loss attributable to noncontrolling interests
(378
)
 
39

 
(45
)
 
36

Net income (loss) attributable to common shareholders
185

 
(2,308
)
 
30,235

 
(2,278
)
 
 
 
 
 
 
 
 
Basic earnings (loss) per common share:
 

 
 

 
 

 
 

Continuing operations
$
0.01

 
$
(0.12
)
 
$
1.53

 
$
(0.11
)
Discontinued operations
—

 
—

 
—

 
—

Net income (loss)
$
0.01

 
$
(0.12
)
 
$
1.53

 
$
(0.11
)
 
 
 
 
 
 
 
 
Diluted earnings (loss) per common share:
 

 
 

 
 

 
 

Continuing operations
$
0.01

 
$
(0.12
)
 
$
1.44

 
$
(0.11
)
Discontinued operations
—

 
—

 
—

 
—

Net income (loss)
$
0.01

 
$
(0.12
)
 
$
1.44

 
$
(0.11
)
 
 
 
 
 
 
 
 
Quarterly Results for Fiscal 2011 (2)
December 31
 
March 31
 
June 30
 
September 30
Revenues
$
16,680

 
$
20,347

 
$
27,589

 
$
21,400

Operating (loss) income
(5,610
)
 
(3,679
)
 
3,764

 
(956
)
(Loss) income from continuing operations 
(1,192
)
 
(1,830
)
 
115

 
(2,320
)
Loss from discontinued operations
—

 
(2,153
)
 
(23
)
 
(26
)
Net (loss) income
(1,192
)
 
(3,983
)
 
92

 
(2,346
)
Add: net loss (income) attributable to noncontrolling interests
625

 
(283
)
 
(503
)
 
(638
)
Net loss attributable to common shareholders
(567
)
 
(4,266
)
 
(411
)
 
(2,984
)
 
 
 
 
 
 
 
 
Basic and Diluted loss per common share:
 

 
 

 
 

 
 

Continuing operations
$
(0.03
)
 
$
(0.11
)
 
$
(0.02
)
 
$
(0.15
)
Discontinued operations
—

 
(0.11
)
 
—

 
—

Net loss
$
(0.03
)
 
$
(0.22
)
 
$
(0.02
)
 
$
(0.15
)
 
(1)
Fiscal 2012 – significant events by quarter:
•
December 31 – included a $8.7 million ($6.9 million net of tax) gain on the deconsolidation of LEAF ($0.35 per share-diluted) and a $2.2 million ($1.7 million net of tax, or $0.09 per share-diluted) loss on the extinguishment of debt in conjunction with the modification and partial redemption of the Company's Senior Notes in November 2011.
•
March 31 – included a restructuring charge of $365,000 ($233,000 net of tax, or $0.01 per share-diluted) which consisted of severance and benefits for terminated employees; the decrease in staffing levels reflected the Company's decreased overhead requirements as a result of the sale of Apidos and the recapitalization of LEAF.
•
June 30 – included a $54.7 million ($33.8 million net of tax, or $1.61 per share-diluted) gain on the sale of Apidos, offset, in part, by a $5.7 million ($3.5 million net of tax, or $0.17 per share diluted) provision for credit losses related to management fees owed from three of the commercial finance investment entities that, based on a change in estimated cash flows, were not expected to be collectible.
•
September 30 – included an additional $6.3 million ($2.3 million net of tax, or $0.11 per share-diluted) provision for credit losses related to management fees owed from three of the commercial finance investment entities and a $2.2 million ($812,000 net of tax, or $0.04 per share diluted) impairment charge on a legacy real estate investment.

(2)
Fiscal 2011 – significant events by quarter:
•
December 31 – included a net gain of $5.1 million ($3.2 million net of tax, or $0.17 per share-diluted) on the sale of the Company’s management contract and equity investment in REM I.
•
March 31 – included a $3.4 million ($2.2 million net of tax, or $0.11 per share-diluted) loss from discontinued operations in connection with the March 2006 sale of a real estate loan in which the Company agreed to make payments under certain circumstances to the owner.  In March 2011, a triggering event occurred.
•
June 30 – included a $7.6 million ($3.3 million net of tax, or $0.17 per share-diluted) equity gain based on the Company’s interest in an office building that was sold in Washington, DC.
•
September 30 – the gain related to the third quarter sale of the Washington, DC building increased by $800,000 ($361,000 net of tax, or $0.02 per share-diluted) based on the release of funds from escrow.