Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - Unaudited

v3.23.2
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - Unaudited - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Sales $ 104,858 $ 81,322 $ 196,992 $ 153,541
Real estate development and property management fees 2,636 0 4,247 0
Interest income 1,674 1,221 4,191 2,370
Net gains on sales of real estate assets 0 0 0 1,329
Other revenue 312 1,150 659 1,929
Total revenues 106,844 83,693 201,842 159,169
Costs and expenses:        
Interest expense 700 509 1,435 1,045
Recoveries from loan losses, net (2,507) (3,289) (3,107) (3,937)
Impairment losses 0 0 0 64
Selling, general and administrative expenses 34,306 30,061 68,084 57,425
Total costs and expenses 116,514 86,757 222,601 167,314
Operating losses (9,670) (3,064) (20,759) (8,145)
Equity in net earnings of unconsolidated real estate joint ventures 728 19,154 1,832 20,686
Other income (loss) 716 103 2,887 1,087
Foreign exchange loss (488) 357 (534) 168
(Loss) income before income taxes (8,687) 16,550 503 13,796
Benefit (provision) for income taxes 1,292 (6,161) (375) (5,333)
Net (loss) income (7,395) 10,389 128 8,463
Net (income) loss attributable to noncontrolling interests (606) 66 (226) 176
Net (loss) income attributable to shareholders $ (8,001) $ 10,455 $ (98) $ 8,639
Basic (loss) earnings per share (in dollars per share) $ (0.56) $ 0.68 $ (0.01) $ 0.56
Diluted (loss) earnings per share (in dollars per share) $ (0.56) $ 0.68 $ (0.01) $ 0.56
Basic weighted average number of common shares outstanding (in shares) [1] 14,354 15,471 14,354 15,473
Diluted weighted average number of common shares outstanding (in shares) [1] 14,354 15,471 14,354 15,491
Net (loss) income $ (7,395) $ 10,389 $ 128 $ 8,463
Other comprehensive income (loss), net of tax:        
Unrealized (loss) gain on securities available for sale (23) (45) 4 (91)
Foreign currency translation adjustments 363 (378) 374 (214)
Other comprehensive income (loss), net 340 (423) 378 (305)
Comprehensive (loss) income, net of tax (7,055) 9,966 506 8,158
Comprehensive (income) loss attributable to noncontrolling interests (606) 66 (226) 176
Comprehensive (loss) income attributable to shareholders (7,661) 10,032 280 8,334
The Altman Companies, LLC [Member]        
Costs and expenses:        
Gain on consolidation 0 0 6,195 0
Other Investments in Real Estate Joint Ventures [Member]        
Costs and expenses:        
Gain on consolidation 27 0 10,882 0
Trade [Member]        
Revenues:        
Sales 61,203 72,585 124,917 138,334
Costs and expenses:        
Cost of sales 44,927 55,598 92,334 106,604
Real Estate [Member]        
Revenues:        
Sales 4,445 8,737 6,217 15,207
Costs and expenses:        
Cost of sales 959 3,878 1,537 6,113
Construction [Member]        
Revenues:        
Sales 36,574 0 61,611 0
Costs and expenses:        
Cost of sales $ 38,129 $ 0 $ 62,318 $ 0
[1] For periods prior to the spin-off on September 30, 2020, the number of shares is based on the shares issued in connection with the spin-off. See Note 1 for further discussion.