XML 41 R27.htm IDEA: XBRL DOCUMENT

Note 20 - Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2020

20.

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

The tables below present quarterly financial information for 2020 and 2019:

	2020
	Three Months Ended
	March 31			June 30			September 30			December 31
	(in thousands, except per share data)

Operating revenues	$	129,155		$	92,979		$	121,942		$	142,750
Operating expenses and costs		119,669			94,986			111,868			126,380

Operating income (loss)		9,486			(2,007	)		10,074			16,370
Non-operating (loss) income		(9,076	)		2,961			(94	)		4,510
Interest expense		(2,212	)		(2,179	)		(2,211	)		(2,214	)
Income tax benefit (expense)		498			402			(1,769	)		(4,713	)

Net (loss) income	$	(1,304	)	$	(823	)	$	6,000		$	13,953

Net (loss) income per common share:
Basic	$	(0.23	)	$	(0.14	)	$	1.04		$	2.43
Diluted	$	(0.23	)	$	(0.14	)	$	1.04		$	2.43

Average common shares outstanding:
Basic		5,746			5,766			5,763			5,734
Diluted		5,746			5,766			5,768			5,752

	2019
	Three Months Ended
	March 31			June 30			September 30			December 31
	(in thousands, except per share data)

Operating revenues	$	128,686		$	133,000		$	128,994		$	123,497
Operating expenses and costs		118,999			119,789			121,461			141,381

Operating income (loss)		9,687			13,211			7,533			(17,884	)
Non-operating income (loss)		3,472			(197	)		490			2,457
Interest expense		(2,040	)		(2,059	)		(2,178	)		(2,377	)
Income tax (expense) benefit		(2,818	)		(2,301	)		(1,264	)		4,168

Net income (loss)	$	8,301		$	8,654		$	4,581		$	(13,636	)

Net income (loss) per common share:
Basic	$	1.40		$	1.47		$	0.80		$	(2.37	)
Diluted	$	1.39		$	1.45		$	0.79		$	(2.37	)

Average common shares outstanding:
Basic		5,921			5,901			5,756			5,751
Diluted		5,985			5,949			5,799			5,751