| Schedule of Quarterly Financial Information |
Selected financial information for interim quarterly periods is presented below (in thousands, except per share data). Earnings (loss) per common share are computed independently for each of the quarters presented, and the sum of the quarterly earnings (loss) per share may not necessarily equal the total for the year:
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Three Months Ended |
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Mar. 31 |
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Jun. 30 |
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Sep. 30 |
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Dec. 31(1)
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2016 |
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Operating revenues |
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$ |
62,582 |
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$ |
63,351 |
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$ |
65,006 |
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$ |
56,289 |
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Operating income (loss) |
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$ |
(805 |
) |
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$ |
(3,509 |
) |
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$ |
2,366 |
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$ |
(1,421 |
) |
Net loss |
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$ |
(3,950 |
) |
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$ |
(4,510 |
) |
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$ |
(802 |
) |
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$ |
(5,648 |
) |
Net income (loss) attributable to common shares |
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$ |
(3,818 |
) |
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$ |
1,938 |
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$ |
(560 |
) |
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$ |
(5,538 |
) |
Earnings (loss) per common share - basic |
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$ |
(0.19 |
) |
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$ |
0.09 |
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$ |
(0.03 |
) |
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$ |
(0.27 |
) |
Earnings (loss) per common share - diluted |
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$ |
(0.19 |
) |
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$ |
0.09 |
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$ |
(0.03 |
) |
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$ |
(0.27 |
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2015 |
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Operating revenues |
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$ |
67,415 |
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$ |
70,738 |
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$ |
69,741 |
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$ |
73,943 |
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Operating income |
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$ |
5,853 |
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$ |
8,535 |
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$ |
5,123 |
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$ |
4,783 |
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Net income (loss) |
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$ |
(239 |
) |
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$ |
11,105 |
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$ |
653 |
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$ |
(3,620 |
) |
Net income attributable to common shares |
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$ |
(42 |
) |
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$ |
11,333 |
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$ |
861 |
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$ |
(3,447 |
) |
Earnings (loss) per common share - basic |
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$ |
— |
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$ |
0.55 |
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$ |
0.04 |
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$ |
(0.17 |
) |
Earnings (loss) per common share - diluted |
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$ |
— |
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$ |
0.55 |
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$ |
0.04 |
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$ |
(0.17 |
) |
_______________
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(1) |
The fourth quarter of 2016 includes adjustments that were immaterial to the fiscal year ended December 31, 2016 and to prior periods. The impact of the corrections made in the fourth quarter 2016 was a $1.7 million decrease in operating income, including a $2.0 million increase in operating expense, a $0.5 million decrease in depreciation and amortization expense and a $0.3 million decrease in gains on asset dispositions, a $1.0 million increase in net loss and net loss attributable to common shares and a $0.05 increase in loss per common share.
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