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Selected Quarterly Financial Data (Unaudited) | 12 Months Ended
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Jun. 30, 2013
Selected Quarterly Financial Data (Unaudited) |
Selected Quarterly Financial Data (Unaudited) | Note 19—Selected Quarterly Financial Data (Unaudited) The following table presents summarized quarterly financial information for the years ended June 30, 2013 and 2012:
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 The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: 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 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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