Quarterly report pursuant to Section 13 or 15(d)

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

v3.23.3
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - Unaudited - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Sales $ 98,243 $ 72,703 $ 295,235 $ 226,244
Real estate development and property management fees 5,002 0 9,249 0
Interest income 2,545 1,576 6,736 3,968
Net gains on sales of real estate assets 2,271 0 2,210 1,329
Other revenue 280 955 939 2,862
Total revenues 103,339 75,234 305,120 234,403
Costs and expenses:        
Interest expense 810 615 2,245 1,660
Recoveries from loan losses, net (177) (278) (3,284) (4,215)
Impairment losses 349 311 349 375
Selling, general and administrative expenses 34,120 29,073 102,143 86,498
Total costs and expenses 112,924 84,334 335,464 251,648
Operating losses (9,585) (9,100) (30,344) (17,245)
Equity in net earnings of unconsolidated real estate joint ventures 2,126 15,026 3,958 35,712
Other income (expense) 1,155 (310) 4,042 777
Foreign exchange gain (loss) 421 903 (113) 1,071
(Loss) income before income taxes (7,141) 6,519 (6,638) 20,315
Benefit (provision) for income taxes 606 (2,519) 231 (7,852)
Net (loss) income (6,535) 4,000 (6,407) 12,463
Net (income) loss attributable to noncontrolling interests (1,290) 24 (1,516) 200
Net (loss) income attributable to shareholders $ (7,825) $ 4,024 $ (7,923) $ 12,663
Basic (loss) earnings per share (in dollars per share) $ (0.55) $ 0.26 $ (0.55) $ 0.82
Diluted (loss) earnings per share (in dollars per share) $ (0.55) $ 0.26 $ (0.56) $ 0.82
Basic weighted average number of common shares outstanding (in shares) 14,354 15,409 14,354 15,452
Diluted weighted average number of common shares outstanding (in shares) 14,354 15,494 14,354 15,491
Net (loss) income $ (6,535) $ 4,000 $ (6,407) $ 12,463
Other comprehensive income (loss), net of tax:        
Unrealized loss on securities available for sale (12) (61) (8) (152)
Foreign currency translation adjustments (338) (838) 36 (1,052)
Other comprehensive (loss) income, net (350) (899) 28 (1,204)
Comprehensive (loss) income, net of tax (6,885) 3,101 (6,379) 11,259
Comprehensive (income) loss attributable to noncontrolling interests (1,290) 24 (1,516) 200
Comprehensive (loss) income attributable to shareholders (8,175) 3,125 (7,895) 11,459
The Altman Companies, LLC [Member]        
Costs and expenses:        
Gain on the consolidation of The Altman Companies (2,393) 0 3,802 0
Gain (loss) on consolidation     3,802 (0)
Other Investments in Real Estate Joint Ventures [Member]        
Costs and expenses:        
Gain (loss) on consolidation 1,135 0 12,017 0
Trade [Member]        
Revenues:        
Sales 61,462 71,097 186,379 209,431
Costs and expenses:        
Cost of sales 45,307 54,057 137,641 160,661
Real Estate [Member]        
Revenues:        
Sales 2,712 1,606 8,929 16,813
Costs and expenses:        
Cost of sales 570 556 2,107 6,669
Construction [Member]        
Revenues:        
Sales 29,067 0 90,678 0
Costs and expenses:        
Cost of sales $ 31,945 $ 0 $ 94,263 $ 0