Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Data (Unaudited) (Notes)

v2.4.0.8
Quarterly Financial Data (Unaudited) (Notes)
12 Months Ended
Dec. 31, 2013
Quarterly Financial Data [Abstract]  
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited) 
 
 
For the Fiscal Quarters Ended
 
 
March 31, 2013
 
June 30, 2013
 
September 30, 2013
 
December 31, 2013
Lease revenue
 
$
5,638,244

 
$
5,638,244

 
$
5,638,244

 
$
5,638,244

Sales revenue
 
2,515,573

 
1,929,772

 
1,935,868

 
2,351,831

Total revenue
 
8,153,817

 
7,568,016

 
7,574,112

 
7,990,075

Cost of sales
 
2,003,639

 
1,476,348

 
1,411,318

 
1,843,360

Management fees, net of expense reimbursements
 
643,814

 
646,394

 
647,380

 
699,677

All other expenses
 
3,705,925

 
3,845,005

 
4,227,013

 
3,880,512

Total expenses
 
6,353,378

 
5,967,747

 
6,285,711

 
6,423,549

Income (loss) from operations, before income taxes
 
1,800,439

 
1,600,269

 
1,288,401

 
1,566,526

Realized and unrealized gain (loss) on securities transactions, before income taxes
 
2,742,049

 
(30,976
)
 
872,020

 
1,783,460

Distributions and income from investments, net
 
13,124

 
2,701

 
568,332

 
657

Income tax expense, net
 
(737,381
)
 
(907,275
)
 
(818,134
)
 
(825,588
)
Total other income (loss) and expense, net, before income taxes
 
2,017,792

 
(935,550
)
 
622,218

 
958,529

Income (loss) before income taxes
 
3,818,231

 
664,719

 
1,910,619

 
2,525,055

Current and deferred tax expense, net
 
1,020,944

 
241,754

 
1,105,125

 
581,695

Net income
 
$
2,797,287

 
$
422,965

 
$
805,494

 
$
1,943,360

Net income attributable to non-controlling interest
 
$
384,534

 
$
352,893

 
$
366,042

 
$
363,298

Net income attributable to CORR stockholders
 
$
2,412,753

 
$
70,072

 
$
439,452

 
$
1,580,062

Basic and diluted earnings per share
 
$
0.10

 
$0.00
 
$
0.02

 
$
0.06

 
 
For the Fiscal Quarters Ended
 
 
February 28,
2012
 
May 31,
2012
 
August 31,
2012
 
November 30,
2012
Lease income
 
$
638,244

 
$
638,244

 
$
638,244

 
$
638,243

Sales revenue
 
2,437,310

 
1,439,958

 
1,927,626

 
2,216,128

Total revenue
 
3,075,554

 
2,078,202

 
2,565,870

 
2,854,371

Cost of sales
 
2,004,672

 
1,031,114

 
1,381,161

 
1,661,155

Management fees, net of expense reimbursements
 
247,381

 
254,965

 
298,051

 
246,399

All other expenses
 
599,865

 
892,759

 
1,082,911

 
1,117,268

Total expenses
 
2,851,918

 
2,178,838

 
2,762,123

 
3,024,822

Income (loss) from operations, before income taxes
 
223,636

 
(100,636
)
 
(196,253
)
 
(170,451
)
Realized and unrealized gain (loss) on securities transactions, before income taxes
 
8,931,466

 
3,237,325

 
8,492,502

 
(479,416
)
Distributions and income from investments, net
 
85,262

 
55,462

 
(502,176
)
 
82,057

Interest Expense
 
(27,409
)
 
(25,229
)
 
(16,780
)
 
(11,705
)
Total other income (loss) and expense, net, before income taxes
 
8,989,319

 
3,267,558

 
7,973,546

 
(409,064
)
Income (loss) before income taxes
 
9,212,955

 
3,166,922

 
7,777,293

 
(579,515
)
Current and deferred tax expense, net
 
(3,465,914
)
 
(1,190,162
)
 
(2,788,785
)
 
215,927

Net income
 
$
5,747,041

 
$
1,976,760

 
$
4,988,508

 
$
(363,588
)
Basic and diluted earnings (loss) per share
 
$
0.63

 
$
0.21

 
$
0.54

 
$
(0.04
)

On February 5, 2013, the Board of Directors of the Company approved a change in the Company's fiscal year end from November 30 to December 31. This change to the calendar year reporting cycle began January 1, 2013. Financial information for the years ended December 31, 2012 and 2011 has not been included in this Form 10-K for the following reasons: (i) the years ended November 30, 2012 and 2011 provide as meaningful a comparison to the year ended December 31, 2013 as would the years ended December 31, 2012 and 2011; (ii) there are no significant factors, seasonal or other, that would impact the comparability of information if the results for the years ended December 31, 2012 and 2011 were presented in lieu of results for the years ended November 30, 2012 and 2011; and (iii) it was not practicable or cost justified to prepare this information.