| Summary of quarterly financial data |
The following are summarized quarterly financial data for the years ended December 31, 2012 and 2011:
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2012 |
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2011 |
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First
Quarter |
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Second
Quarter |
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Third
Quarter |
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Fourth
Quarter |
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First
Quarter |
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Second
Quarter |
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Third
Quarter |
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Fourth
Quarter |
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(Dollars in thousands, except per share data)
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Revenues |
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$ |
19,787 |
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$ |
14,294 |
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$ |
18,814 |
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$ |
17,686 |
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$ |
20,777 |
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$ |
16,918 |
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$ |
20,252 |
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$ |
16,370 |
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Costs and expenses |
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13,948 |
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14,253 |
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16,971 |
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23,017 |
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14,211 |
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14,785 |
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17,379 |
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22,224 |
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Equity income (loss) from unconsolidated subsidiaries |
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4,467 |
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2,081 |
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4,249 |
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4,447 |
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1,871 |
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3,283 |
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2,777 |
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(5,700 |
) |
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Gain on business combinations |
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— |
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935 |
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— |
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— |
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— |
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278 |
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155 |
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— |
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Gain on debt extinguishment |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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26,543 |
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Gain on sale of subsidiaries |
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— |
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— |
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746 |
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705 |
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5 |
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— |
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— |
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1,813 |
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Income tax expense (benefit) |
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833 |
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5 |
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(59 |
) |
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195 |
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602 |
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1,024 |
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421 |
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1,655 |
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Net earnings |
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9,473 |
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3,052 |
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6,897 |
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(374 |
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7,840 |
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4,670 |
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5,384 |
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15,147 |
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Less: Net income attributable to noncontrolling interests |
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1,108 |
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1,565 |
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2,130 |
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(93 |
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4,115 |
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2,242 |
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2,654 |
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(187 |
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Net earnings attributable to FirstCity |
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8,365 |
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1,487 |
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4,767 |
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(281 |
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3,725 |
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2,428 |
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2,730 |
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15,334 |
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Less: Net earnings attributable to participating securities |
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82 |
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29 |
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96 |
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(6 |
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— |
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— |
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25 |
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142 |
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Net earnings to common stockholders |
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8,283 |
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1,458 |
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4,671 |
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(275 |
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3,725 |
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2,428 |
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2,705 |
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15,192 |
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Basic earnings per share of common stock: |
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Net earnings |
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$ |
0.80 |
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$ |
0.14 |
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$ |
0.45 |
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$ |
(0.03 |
) |
$ |
0.36 |
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$ |
0.24 |
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$ |
0.26 |
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$ |
1.48 |
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Diluted earnings per share of common stock: |
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Net earnings |
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$ |
0.80 |
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$ |
0.14 |
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$ |
0.45 |
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$ |
(0.03 |
) |
$ |
0.36 |
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$ |
0.24 |
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$ |
0.26 |
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$ |
1.47 |
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