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Quarterly Operating Results
 12 Months Ended
Dec. 31, 2016
Quarterly Operating Results [Abstract]  
Quarterly Operating Results

NOTE 16. QUARTERLY OPERATING RESULTS (UNAUDITED)





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Quarters ended (unaudited)



 

March 31,

 

June 30,

 

September 30,

 

December 31,

 

Total



 

2016

 

2016

 

2016

 

2016

 

2016



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

 12,503 

 

$

 14,155 

 

$

 13,519 

 

$

 10,470 

 

$

 50,647 

Operating expenses

 

 

 12,662 

 

 

 12,508 

 

 

 12,445 

 

 

 11,009 

 

 

 48,624 

Operating income (loss)

 

 

 (159)

 

 

 1,647 

 

 

 1,074 

 

 

 (539)

 

 

 2,023 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gain on dispositions of assets

 

 

 3,367 

 

 

 8,856 

 

 

 3,591 

 

 

 7,318 

 

 

 23,132 

Equity in loss of joint venture

 

 

 -

 

 

 -

 

 

 (54)

 

 

 (190)

 

 

 (244)

Net gain on derivatives and convertible debt

 

 

 6,117 

 

 

 162 

 

 

 26 

 

 

 72 

 

 

 6,377 

Other income (expense)

 

 

 (21)

 

 

 23 

 

 

 85 

 

 

 (32)

 

 

 55 

Interest expense

 

 

 (1,329)

 

 

 (1,248)

 

 

 (1,127)

 

 

 (1,006)

 

 

 (4,710)

Loss on debt extinguishment

 

 

 (173)

 

 

 (976)

 

 

 (399)

 

 

 (639)

 

 

 (2,187)

Impairment loss

 

 

 (793)

 

 

 (121)

 

 

 (343)

 

 

 (220)

 

 

 (1,477)

Earnings from continuing operations before income tax expense

 

 

 7,009 

 

 

 8,343 

 

 

 2,853 

 

 

 4,764 

 

 

 22,969 

Income tax expense

 

 

 -

 

 

 -

 

 

 -

 

 

 (125)

 

 

 (125)

Earnings (loss) from continuing operations

 

 

 7,009 

 

 

 8,343 

 

 

 2,853 

 

 

 4,639 

 

 

 22,844 

Gain from discontinued operations, net of tax

 

 

 678 

 

 

 -

 

 

 -

 

 

 -

 

 

 678 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

 

 7,687 

 

 

 8,343 

 

 

 2,853 

 

 

 4,639 

 

 

 23,522 

Earnings attributable to noncontrolling interest

 

 

 (389)

 

 

 (178)

 

 

 (61)

 

 

 (99)

 

 

 (727)

Earnings attributable to controlling interests

 

 

 7,298 

 

 

 8,165 

 

 

 2,792 

 

 

 4,540 

 

 

 22,795 

Dividends declared and undeclared and in kind dividends deemed on preferred stock

 

 

 (17,740)

 

 

 (1,057)

 

 

 (976)

 

 

 (975)

 

 

 (20,748)

Net earnings (loss) attributable to common shareholders

 

$

 (10,442)

 

$

 7,108 

 

$

 1,816 

 

$

 3,565 

 

$

 2,047 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings Per Share (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic EPS from continuing operations

 

$

 (14.63)

 

$

 9.36 

 

$

 2.41 

 

$

 4.68 

 

$

 1.82 

Basic EPS from discontinued operations

 

 

 0.91 

 

 

 -

 

 

 -

 

 

 -

 

 

 0.85 

Total EPS Basic

 

$

 (13.72)

 

$

 9.36 

 

$

 2.41 

 

$

 4.68 

 

$

 2.67 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Share (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted EPS from continuing operations

 

$

 (14.63)

 

$

 1.17 

 

$

 0.39 

 

$

 0.65 

 

$

 0.78 

Diluted EPS from discontinued operations

 

 

 0.91 

 

 

 -

 

 

 -

 

 

 -

 

 

 0.13 

Total EPS Diluted

 

$

 (13.72)

 

$

 1.17 

 

$

 0.39 

 

$

 0.65 

 

$

 0.91 



(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



 

2015

 

2015

 

2015

 

2015

 

2015



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

 12,692 

 

$

 16,733 

 

$

 15,895 

 

$

 13,394 

 

$

 58,714 

Operating expenses

 

 

 13,134 

 

 

 14,247 

 

 

 13,983 

 

 

 13,826 

 

 

 55,190 

Operating income (loss)

 

 

 (442)

 

 

 2,486 

 

 

 1,912 

 

 

 (432)

 

 

 3,524 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gain (loss) on dispositions of assets

 

 

 11 

 

 

 (137)

 

 

 2,927 

 

 

 1,997 

 

 

 4,798 

Net gain (loss) on derivatives and convertible debt

 

 

 4,823 

 

 

 (4,710)

 

 

 7,895 

 

 

 3,570 

 

 

 11,578 

Other income (expense)

 

 

 95 

 

 

 31 

 

 

 (4)

 

 

 (8)

 

 

 114 

Interest expense

 

 

 (1,547)

 

 

 (1,510)

 

 

 (1,137)

 

 

 (1,328)

 

 

 (5,522)

Loss on debt extinguishment

 

 

 (7)

 

 

 -

 

 

 (104)

 

 

 (102)

 

 

 (213)

Impairment recovery (loss)

 

 

 (777)

 

 

 (3,053)

 

 

 313 

 

 

 (312)

 

 

 (3,829)

Earnings (loss) from continuing operations before income tax expense

 

 

 2,156 

 

 

 (6,893)

 

 

 11,802 

 

 

 3,385 

 

 

 10,450 

Income tax expense

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Earnings (loss) from continuing operations

 

 

 2,156 

 

 

 (6,893)

 

 

 11,802 

 

 

 3385 

 

 

 10,450 

Gain from discontinued operations, net of tax

 

 

 1,294 

 

 

 994 

 

 

 152 

 

 

 1,432 

 

 

 3,872 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 

Dividends declared and undeclared and in kind dividends deemed on preferred stock

 

 

 (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

 

$

 1.56 

 

$

 (9.88)

 

$

 13.39 

 

$

 2.85 

 

$

 8.06 

Basic EPS from discontinued operations

 

 

 1.56 

 

 

 1.30 

 

 

 0.20 

 

 

 1.63 

 

 

 4.55 

Total EPS Basic

 

$

 3.12 

 

$

 (8.58)

 

$

 13.59 

 

$

 4.48 

 

$

 12.61 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Share (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted EPS from continuing operations

 

$

 (0.91)

 

$

 (9.88)

 

$

 0.78 

 

$

 (0.26)

 

$

 (0.98)

Diluted EPS from discontinued operations

 

 

 0.33 

 

 

 1.30 

 

 

 0.07 

 

 

 0.33 

 

 

 0.98 

Total EPS Diluted

 

$

 (0.58)

 

$

 (8.58)

 

$

 0.85 

 

$

 0.07 

 

$

 -



(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.