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20. Quarterly Data (Unaudited)
The tables below set forth selected quarterly information for the years ended December 31, 2011 and 2010 (in thousands, except per share data). Certain of the amounts below have been reclassified to conform to the current period presentation of our consolidated financial statements.
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For the Year Ended December 31, 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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Revenues
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$ |
137,489 |
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$ |
142,833 |
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$ |
137,517 |
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$ |
139,002 |
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Operating income (loss)
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$ |
4,007 |
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$ |
12,836 |
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$ |
30,761 |
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$ |
(43,482 |
) |
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(Loss) income from continuing operations
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$ |
(20,366 |
) |
$ |
(5,524 |
) |
$ |
4,283 |
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$ |
(91,089 |
) |
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Discontinued operations
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$ |
(901 |
) |
$ |
(20,499 |
) |
$ |
3,187 |
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$ |
3,870 |
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Net (loss) income
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$ |
(18,566 |
) |
$ |
(26,007 |
) |
$ |
7,470 |
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$ |
(87,215 |
) |
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Net loss (income) attributable to noncontrolling interests
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776 |
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1,783 |
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(904 |
) |
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4,988 |
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Net (loss) income attributable to COPT
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(17,790 |
) |
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(24,224 |
) |
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6,566 |
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(82,227 |
) |
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Preferred share dividends
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(4,025 |
) |
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(4,026 |
) |
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(4,025 |
) |
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(4,026 |
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Net (loss) income attributable to COPT common shareholders
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$ |
(21,815 |
) |
$ |
(28,250 |
) |
$ |
2,541 |
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$ |
(86,253 |
) |
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Basic earnings per share:
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Loss from continuing operations
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$ |
(0.32 |
) |
$ |
(0.14 |
) |
$ |
(0.01 |
) |
$ |
(1.26 |
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Net (loss) income attributable to COPT common shareholders
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$ |
(0.33 |
) |
$ |
(0.42 |
) |
$ |
0.03 |
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$ |
(1.21 |
) |
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Diluted earnings per share:
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Loss from continuing operations
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$ |
(0.32 |
) |
$ |
(0.14 |
) |
$ |
(0.01 |
) |
$ |
(1.26 |
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Net (loss) income attributable to COPT common shareholders
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$ |
(0.33 |
) |
$ |
(0.42 |
) |
$ |
0.03 |
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$ |
(1.21 |
) |
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For the Year Ended December 31, 2010 |
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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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Revenues
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$ |
142,325 |
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$ |
129,163 |
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$ |
121,915 |
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$ |
144,195 |
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Operating income
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$ |
29,747 |
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$ |
32,718 |
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$ |
29,233 |
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$ |
32,834 |
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Income from continuing operations
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$ |
8,890 |
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$ |
7,891 |
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$ |
4,528 |
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$ |
15,311 |
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Discontinued operations
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$ |
1,768 |
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$ |
925 |
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$ |
1,921 |
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$ |
1,441 |
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Net income
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$ |
10,675 |
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$ |
9,151 |
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$ |
8,926 |
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$ |
16,752 |
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Net income attributable to noncontrolling interests
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(737 |
) |
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(685 |
) |
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(94 |
) |
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(1,228 |
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Net income attributable to COPT
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9,938 |
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8,466 |
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8,832 |
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15,524 |
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Preferred share dividends
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(4,025 |
) |
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(4,026 |
) |
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(4,025 |
) |
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(4,026 |
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Net income attributable to COPT common shareholders
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$ |
5,913 |
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$ |
4,440 |
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$ |
4,807 |
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$ |
11,498 |
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Basic earnings per share:
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Income from continuing operations
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$ |
0.07 |
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$ |
0.06 |
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$ |
0.05 |
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$ |
0.16 |
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Net income attributable to COPT common shareholders
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$ |
0.10 |
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$ |
0.07 |
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$ |
0.08 |
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$ |
0.18 |
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Diluted earnings per share:
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Income from continuing operations
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$ |
0.07 |
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$ |
0.06 |
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$ |
0.05 |
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$ |
0.16 |
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Net income attributable to COPT common shareholders
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$ |
0.10 |
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$ |
0.07 |
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$ |
0.08 |
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$ |
0.18 |
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