Quarterly Results Of Operations

12 Months Ended

Dec. 31, 2011

Quarterly Results Of Operations [Abstract]

NOTE 10 – QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

The following is a summary of quarterly results of operations (unaudited) for the years ended December 31, 2011 and 2010 (in thousands of dollars, except per share amounts):


	Quarter Ended
	March 31		June 30		Sept. 30		Dec. 31
2011
Royalties	$	5,415	$	6,543	$	6,473	$	8,184
Interest and other income		34		29		21		40
Total revenues		5,449		6,572		6,494		8,224
Expenses		954		919		838		980
Net income	$	4,495	$	5,653	$	5,656	$	7,244
Earnings per share	$	3.00	$	3.77	$	3.77	$	4.83

2010
Royalties	$	3,088	$	5,257	$	6,000	$	6,288
Interest and other income		82		32		67		52
Total revenues		3,170		5,289		6,067		6,340
Expenses		849		845		824		879
Net income	$	2,321	$	4,444	$	5,243	$	5,461
Earnings per share	$	1.55	$	2.96	$	3.50	$	3.64

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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