Note 14 - Quarterly Financial Information (Unaudited)

3 Months Ended

Mar. 31, 2012

Quarterly Financial Information [Text Block]

14. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

(in thousands, except per share data)

	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter
2012
Operating Revenues	$	16,561	$	25,461	$	25,650	$	21,710
Operating Income		251		919		901		2
Net Income		168		593		579		10
Basic Earnings per share		0.07		0.24		0.24		0.00
Diluted Earnings per share		0.07		0.24		0.24		0.00
2011
Operating Revenues	$	15,023	$	20,171	$	22,314	$	25,854
Operating Income		410		816		915		1,297
Net Income		299		546		599		694	(1)
Basic Earnings per share		0.12		0.23		0.25		0.28
Diluted Earnings per share		0.12		0.22		0.24		0.28

(1) Adjustments for an over statement of Puerto Rico tax credits and other accumulated items in prior periods resulted in an increase in the provision for income taxes in the Company’s fourth quarter.