QUARTERLY INFORMATION (UNAUDITED)

12 Months Ended

Dec. 31, 2012

QUARTERLY INFORMATION (UNAUDITED)

QUARTERLY INFORMATION (UNAUDITED)

NOTE L—QUARTERLY INFORMATION (UNAUDITED)

        Summarized quarterly financial data for the years ended December 31, 2012 and 2011 are as follows:

	2012
	Quarter
	First		Second		Third		Fourth		Year
	(in thousands, except per share amounts)
Revenues	$	28,354	$	30,178	$	31,361	$	31,904	$	121,797
Gross profit		19,854		23,001		24,277		21,593		88,725
Net income		3,811		5,259		2,408		4,042		15,520
Net income applicable to common stockholders		3,808		5,257		2,405		4,040		15,510
Earnings per share
Basic	$	0.05	$	0.07	$	0.03	$	0.06	$	0.22
Diluted	$	0.05	$	0.07	$	0.03	$	0.06	$	0.22

	2011
	Quarter
	First			Second		Third		Fourth		Year
	(in thousands, except per share amounts)
Revenues	$	23,180		$	26,893	$	26,018	$	27,280	$	103,371
Gross profit		15,445			18,187		18,124		20,978		72,734
Net income (loss)		(576	)		9,030		10,184		3,001		21,639
Net income (loss) applicable to common stockholders		(579	)		9,027		10,181		3,000		21,629
Earnings (loss) per share
Basic	$	(0.01	)	$	0.13	$	0.14	$	0.04	$	0.31
Diluted	$	(0.01	)	$	0.13	$	0.14	$	0.04	$	0.30

        Quarterly and year-to-date computations of per share amounts are made independently. Therefore, the sum of quarterly per share amounts may not agree with per share amounts for the year. Gross profit represents oil and gas revenues less lease operating expenses.