Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES        
REVENUES $ 40,674 $ 69,371 $ 102,741 $ 134,526
OPERATING COSTS AND EXPENSES        
Cost of sales and processing (including depreciation and amortization of $3,534, $4,128, $7,486 and $8,357, respectively) 34,507 58,806 88,496 113,888
GROSS PROFIT 6,167 10,565 14,245 20,638
GENERAL AND ADMINISTRATIVE EXPENSES        
General and administrative 6,289 6,042 12,963 12,076
Depreciation 212 208 428 421
GENERAL AND ADMINISTRATIVE EXPENSES 6,501 6,250 13,391 12,497
OPERATING INCOME (LOSS) (334) 4,315 854 8,141
OTHER INCOME (EXPENSE)        
Interest income 0 0 0 5
Interest expense (735) (1,401) (1,651) (2,900)
Miscellaneous income, net 68 284 6 256
OTHER INCOME (EXPENSE) (667) (1,117) (1,645) (2,639)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (1,001) 3,198 (791) 5,502
INCOME TAX EXPENSE (BENEFIT) 858 691 (4,795) 1,185
INCOME (LOSS) FROM CONTINUING OPERATIONS (1,859) 2,507 4,004 4,317
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX (2) (103) 4,855 (162)
NET INCOME (LOSS) $ (1,861) $ 2,404 $ 8,859 $ 4,155
Basic Earnings per Common Share        
Net income from continuing operations (in dollars per share) $ (0.07) $ 0.10 $ 0.16 $ 0.17
Net income from discontinued operations, net of tax (in dollars per share) 0 0 0.20 (0.01)
Net income (in dollars per share) $ (0.07) $ 0.10 $ 0.36 $ 0.16
Basic weighted average number of common shares outstanding (in shares) 24,802 24,696 24,784 24,675
Diluted Earnings per Common Share        
Net income from continuing operations (in dollars per share) $ (0.07) $ 0.10 $ 0.16 $ 0.17
Net income from discontinued operations, net of tax (in dollars per share) 0 0 0.19 (0.01)
Net income (in dollars per share) $ (0.07) $ 0.10 $ 0.35 $ 0.16
Diluted weighted average number of common shares outstanding (in shares) 24,802 25,091 25,360 25,089
Product sales        
REVENUES        
REVENUES $ 36,707 $ 65,329 $ 93,890 $ 126,822
Processing fees        
REVENUES        
REVENUES $ 3,967 $ 4,042 $ 8,851 $ 7,704