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Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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Jun. 30, 2013
Selected Quarterly Financial Data (Unaudited) |
Summary of quarterly financial information |
2013 |  | First |  | Second |  | Third |  | Fourth(1) |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Revenues |  | $ | 4,291,546 |  | $ | 5,648,058 |  | $ | 6,010,567 |  | $ | 5,399,749 |
Operating income |  |  | 1,930,556 |  |  | 3,024,721 |  |  | 3,394,531 |  |  | 2,351,546 |
Net income available to commonsholders |  | $ | 990,951 |  | $ | 1,790,696 |  | $ | 2,228,467 |  | $ | 944,012 |
Basic net income per share |  | $ | 0.04 |  | $ | 0.06 |  | $ | 0.08 |  | $ | 0.03 |
Diluted net income per share |  | $ | 0.03 |  | $ | 0.06 |  | $ | 0.07 |  | $ | 0.03 |
(1) The tax provision for fiscal 2013 reflects a higher effective tax rate compared to the estimated annual effective rate at March 31, 2013. The March effective rate included the favorable effect depletion in excess of basis and was based on the Company's estimate of taxable ordinary income at that time. In contrast to the March forecast, actual taxable income for fiscal 2013 was lower due to a taxable loss on the sale of assets in June 2013 and lower than expected book income due to $0.6 million of lower Delhi Field revenue and $0.4 million of higher general and administrative expense, primarily attributable to an increase in accrued bonus, shelf registration costs and an engineering study.
2012 |  | First |  | Second |  | Third |  | Fourth |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Revenues |  | $ | 3,884,856 |  | $ | 4,646,702 |  | $ | 4,848,534 |  | $ | 4,581,946 |
Operating income |  | $ | 2,008,866 |  | $ | 2,426,838 |  | $ | 2,273,461 |  | $ | 2,120,109 |
Net income available to commonsholders |  | $ | 1,015,683 |  | $ | 1,259,950 |  | $ | 1,299,525 |  | $ | 926,581 |
Basic net income per share |  | $ | 0.04 |  | $ | 0.05 |  | $ | 0.05 |  | $ | 0.03 |
Diluted net income per share |  | $ | 0.03 |  | $ | 0.04 |  | $ | 0.04 |  | $ | 0.03 |

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=20225539&loc=d3e1280-108306 + Details
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