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Quarterly Operating Results
 12 Months Ended
Dec. 31, 2015
Quarterly Operating Results [Abstract]  
Quarterly Operating Results

NOTE 16. QUARTERLY OPERATING RESULTS (UNAUDITED)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter ended (unaudited)

 

 

 

March 31,

 

June 30,

 

September 30,

 

December 31,

 

Total

 

 

 

2015

 

2015

 

2015

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

 12,346 

 

$

 16,364 

 

$

 15,556 

 

$

 13,075 

 

$

 57,341 

 

Operating expenses

 

 

 12,853 

 

 

 13,958 

 

 

 13,681 

 

 

 13,517 

 

 

 54,009 

 

Operating income (loss)

 

 

 (507)

 

 

 2,406 

 

 

 1,875 

 

 

 (442)

 

 

 3,332 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gain (loss) on dispositions of assets

 

 

 13 

 

 

 (135)

 

 

 2,928 

 

 

 1,996 

 

 

 4,802 

 

Unrealized derivative gain (loss)

 

 

 4,823 

 

 

 (4,710)

 

 

 7,895 

 

 

 3,570 

 

 

 11,578 

 

Other income (expense)

 

 

 95 

 

 

 31 

 

 

 (4)

 

 

 (8)

 

 

 114 

 

Interest expense

 

 

 (1,527)

 

 

 (1,490)

 

 

 (1,118)

 

 

 (1,310)

 

 

 (5,445)

 

Loss on debt extinguishment

 

 

 (7)

 

 

 0 

 

 

 (104)

 

 

 (102)

 

 

 (213)

 

Impairment recovery (loss)

 

 

 (777)

 

 

 (3,053)

 

 

 313 

 

 

 (311)

 

 

 (3,828)

 

Earnings (loss) from continuing operations before income taxes

 

 

 2,113 

 

 

 (6,951)

 

 

 11,785 

 

 

 3,393 

 

 

 10,340 

 

Income tax expense

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

Earnings (loss) from continuing operations

 

 

 2,113 

 

 

 (6,951)

 

 

 11,785 

 

 

 3,393 

 

 

 10,340 

 

Gain from discontinued operations, net of tax

 

 

 1,337 

 

 

 1,052 

 

 

 169 

 

 

 1,424 

 

 

 3,982 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss)

 

 

 3,450 

 

 

 (5,899)

 

 

 11,954 

 

 

 4,817 

 

 

 14,322 

 

(Earnings) loss attributable to noncontrolling interest

 

 

 (281)

 

 

 284 

 

 

 (724)

 

 

 (476)

 

 

 (1,197)

 

Earnings (loss) attributable to controlling interests

 

 

 3,169 

 

 

 (5,615)

 

 

 11,230 

 

 

 4,341 

 

 

 13,125 

 

Preferred stock dividends declared and undeclared

 

 

 (891)

 

 

 (902)

 

 

 (914)

 

 

 (925)

 

 

 (3,632)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to common shareholders

 

$

 2,278 

 

$

 (6,517)

 

$

 10,316 

 

$

 3,416 

 

$

 9,493 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings Per Share (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic EPS from continuing operations

 

$

 0.23 

 

$

 (1.52)

 

$

 2.06 

 

$

 0.44 

 

$

 1.22 

 

Basic EPS from discontinued operations

 

 

 0.25 

 

 

 0.20 

 

 

 0.03 

 

 

 0.25 

 

 

 0.72 

 

Total EPS Basic

 

$

 0.48 

 

$

 (1.32)

 

$

 2.09 

 

$

 0.69 

 

$

 1.94 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Share (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted EPS from continuing operations

 

$

 (0.14)

 

$

 (1.52)

 

$

 0.12 

 

$

 (0.04)

 

$

 (0.15)

 

Diluted EPS from discontinued operations

 

 

 0.05 

 

 

 0.20 

 

 

 0.01 

 

 

 0.05 

 

 

 0.15 

 

Total EPS Diluted

 

$

 (0.09)

 

$

 (1.32)

 

$

 0.13 

 

$

 0.01 

 

$

 0.00 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Quarterly and total annual EPS are based on the weighted average number of shares outstanding during each quarter and the annual period. Due to rounding and differences in earnings and losses between the quarterly and annual periods, the sum of the quarterly EPS amounts may not equal the reported amounts for the year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarters ended (unaudited)

 

 

 

March 31,

 

June 30,

 

September 30,

 

December 31,

 

Total

 

 

 

2014

 

2014

 

2014

 

2014

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

 11,291 

 

$

 16,059 

 

$

 16,902 

 

$

 13,157 

 

$

 57,409 

 

Operating expenses

 

 

 12,480 

 

 

 13,808 

 

 

 14,556 

 

 

 13,117 

 

 

 53,961 

 

Operating income (loss)

 

 

 (1,189)

 

 

 2,251 

 

 

 2,346 

 

 

 40 

 

 

 3,448 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gain (loss) on dispositions of assets

 

 

 (25)

 

 

 (1)

 

 

 63 

 

 

 (36)

 

 

 1 

 

Unrealized derivative gain (loss)

 

 

 2,115 

 

 

 (11,718)

 

 

 (4,615)

 

 

 (212)

 

 

 (14,430)

 

Other income (expense)

 

 

 31 

 

 

 94 

 

 

 (12)

 

 

 3 

 

 

 116 

 

Interest expense

 

 

 (1,729)

 

 

 (1,819)

 

 

 (1,774)

 

 

 (1,697)

 

 

 (7,019)

 

Loss on debt extinguishment

 

 

 (9)

 

 

 (94)

 

 

 (37)

 

 

 (18)

 

 

 (158)

 

Impairment recovery (loss)

 

 

 119 

 

 

 0 

 

 

 0 

 

 

 (1,388)

 

 

 (1,269)

 

Earnings (loss) from continuing operations before income taxes

 

 

 (687)

 

 

 (11,287)

 

 

 (4,029)

 

 

 (3,308)

 

 

 (19,311)

 

Income tax expense

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

Earnings (loss) from continuing operations

 

 

 (687)

 

 

 (11,287)

 

 

 (4,029)

 

 

 (3,308)

 

 

 (19,311)

 

Gain from discontinued operations, net of tax

 

 

 182 

 

 

 829 

 

 

 1,628 

 

 

 413 

 

 

 3,052 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss)

 

 

 (505)

 

 

 (10,458)

 

 

 (2,401)

 

 

 (2,895)

 

 

 (16,259)

 

(Earnings) loss attributable to noncontrolling interest

 

 

 1 

 

 

 15 

 

 

 3 

 

 

 4 

 

 

 23 

 

Earnings (loss) attributable to controlling interests

 

 

 (504)

 

 

 (10,443)

 

 

 (2,398)

 

 

 (2,891)

 

 

 (16,236)

 

Preferred stock dividends declared and undeclared

 

 

 (847)

 

 

 (858)

 

 

 (868)

 

 

 (879)

 

 

 (3,452)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to common shareholders

 

$

 (1,351)

 

$

 (11,301)

 

$

 (3,266)

 

$

 (3,770)

 

$

 (19,688)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and Diluted Earnings Per Share (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EPS from continuing operations

 

$

 (0.53)

 

$

 (3.69)

 

$

 (1.04)

 

$

 (0.89)

 

$

 (5.84)

 

EPS from discontinued operations

 

$

 0.06 

 

$

 0.25 

 

$

 0.35 

 

$

 0.09 

 

$

 0.79 

 

Total EPS basic and diluted

 

$

 (0.47)

 

$

 (3.44)

 

$

 (0.69)

 

$

 (0.80)

 

$

 (5.05)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Quarterly and total annual EPS are based on the weighted average number of shares outstanding during each quarter and the annual period. Due to rounding and differences in earnings and losses between the quarterly and annual periods, the sum of the quarterly EPS amounts may not equal the reported amounts for the year