Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.22.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Revenues $ 272,690 $ 208,626 $ 258,959
Operating costs and expenses      
Cost of sales and processing (including depreciation and amortization of $16,415, $15,300, and $15,361, respectively) 244,114 179,948 220,444
Gross Profit 28,576 28,678 38,515
General and Administrative Expenses      
General and administrative 26,123 24,334 24,386
Professional services associated with M&A and strategic initiatives 4,655 558 0
Impairment of goodwill and certain intangibles 0 0 24,152
Depreciation 882 848 840
Total General and Administrative Expenses 31,660 25,740 49,378
Operating income (loss) (3,084) 2,938 (10,863)
Other expenses      
Interest expense 1,205 2,491 5,139
Gain on extinguishment of debt (6,123) 0 0
(Gain) loss on disposal of assets (279) 39 680
Miscellaneous income (486) (595) (232)
Total other income (expense) (5,683) 1,935 5,587
Income (loss) from continuing operations before income tax benefit 2,599 1,003 (16,450)
Income tax benefit 2,364 3,963 3,566
Income (loss) from continuing operations 4,963 4,966 (12,884)
Income (loss) from discontinued operations, net of tax 0 26,209 (2,090)
Net income (loss) $ 4,963 $ 31,175 $ (14,974)
Basic income (loss) per common share:      
Net income (loss) from continuing operations (in dollars per share) $ 0.20 $ 0.20 $ (0.52)
Net income (loss) from discontinued operations, net of tax (in dollars per share) 0 1.06 (0.08)
Net income (loss) (in dollars per share) $ 0.20 $ 1.26 $ (0.60)
Basic weighted average number of common shares outstanding (in shares) 24,459 24,802 24,698
Diluted income (loss) per common share:      
Net income (loss) from continuing operations (in dollars per share) $ 0.20 $ 0.20 $ (0.52)
Net income (loss) from discontinued operations, net of tax (in dollars per share) 0 1.03 (0.08)
Net income (loss) (in dollars per share) $ 0.20 $ 1.23 $ (0.60)
Diluted weighted average number of common shares outstanding (in shares) 25,081 25,356 24,698
Product sales      
Revenues      
Revenues $ 257,539 $ 192,375 $ 243,314
Processing fees      
Revenues      
Revenues $ 15,151 $ 16,251 $ 15,645