Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Operations And Comprehensive Income

v3.20.2
Condensed Consolidated Statements Of Operations And Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Revenue from customers $ 40,662 $ 45,973 $ 113,876 $ 137,707
Interest income 387 178 586 674
Net gains on sales of real estate assets 164 399 130 11,395
Other revenue 992 1,142 2,398 3,052
Total revenues 42,205 47,692 116,990 152,828
Costs and Expenses:        
Interest expense   118   409
Recoveries from loan losses, net (807) (1,821) (5,844) (4,206)
Impairment losses   37 30,740 37
Selling, general and administrative expenses 18,110 23,194 54,024 68,504
Total costs and expenses 48,651 52,232 168,547 159,232
Operating losses (6,446) (4,540) (51,557) (6,404)
Equity in net (losses) earnings of unconsolidated real estate joint ventures (646) 28,534 50 37,276
Loss on the deconsolidation of IT'SUGAR, LLC (3,326)   (3,326)  
Other income 81 67 192 621
Foreign exchange (loss) gain (58) 1 214 (23)
(Loss) income before income taxes (10,395) 24,062 (54,427) 31,470
Benefit (provision) for income taxes 1,633 (6,893) 10,847 (9,041)
Net (loss) income from continuing operations (8,762) 17,169 (43,580) 22,429
Discontinued Operation        
Loss from operations   (4,829) (91) (9,473)
Benefit for income taxes   1,175 17 2,296
Loss from discontinued operations   (3,654) (74) (7,177)
Net (loss) income (8,762) 13,515 (43,654) 15,252
Less: Net loss attributable to noncontrolling interests 510 97 4,822 165
Net (loss) income attributable to shareholders $ (8,252) $ 13,612 $ (38,832) $ 15,417
Basic and diluted (loss) earnings per share from continuing operations $ (0.43) $ 0.89 $ (2.01) $ 1.17
Basic and diluted loss per share from discontinued operations   (0.19)   (0.37)
Total basic and diluted (loss) earnings per share $ (0.43) $ 0.70 $ (2.01) $ 0.80
Weighted average number of common shares outstanding 19,318 19,318 19,318 19,318
Other comprehensive income (loss), net of tax:        
Unrealized gain on securities available for sale $ 15 $ 17 $ 19 $ 54
Foreign currency translation adjustments 157 (75) (198) 151
Other comprehensive income (loss), net 172 (58) (179) 205
Comprehensive (loss) income, net of tax (8,590) 13,457 (43,833) 15,457
Less: Comprehensive income attributable to noncontrolling interests 510 97 4,822 165
Comprehensive (loss) income attributable to shareholders (8,080) 13,554 (39,011) 15,622
Trade Sales [Member]        
Revenues        
Revenue from customers 35,692 45,603 99,628 132,677
Costs and Expenses:        
Total costs 27,981 30,704 80,154 91,845
Sales Of Real Estate Inventory [Member]        
Revenues        
Revenue from customers 4,970 $ 370 14,248 5,030
Costs and Expenses:        
Total costs $ 3,367   $ 9,473 $ 2,643