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Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2015
Mar. 31, 2014
Revenues:        
Rental revenue $ 5,879 $ 5,291 $ 11,747 $ 10,391
Royalty and rents 1,315 1,203 2,635 2,448
Revenue - reimbursements 1,754 1,513 2,868 2,397
Total revenues 8,948 8,007 17,250 15,236
Cost of operations:        
Depreciation, depletion and amortization 1,878 1,693 3,761 3,299
Operating expenses 1,755 1,487 2,669 2,395
Property taxes 1,234 879 2,329 1,719
Management company indirect 442 403 794 784
Corporate expenses 1,480 1,723 3,193 3,041
Total cost of operations 6,789 6,185 12,746 11,238
Total operating profit 2,159 1,822 4,504 3,998
Interest income 0 0 0 1
Interest expense (620) (310) (1,065) (599)
Equity in loss of joint ventures (150) (31) (180) (63)
(Loss) Gain on investment land sold (3) 22 (20) 78
Income from continuing operations before income taxes 1,386 1,503 3,239 3,415
Provision for income taxes 541 586 1,263 1,332
Income from continuing operations 845 917 1,976 2,083
Gain from discontinued transportation operations, net of taxes 516 787 2,179 1,961
Net income $ 1,361 $ 1,704 $ 4,155 $ 4,044
Basic earnings per common share        
Income from continuing operations $ 0.09 $ 0.10 $ 0.20 $ 0.22
Discontinued operations 0.05 0.08 0.23 0.20
Net income 0.14 0.18 0.43 0.42
Diluted earnings per common share        
Income from continuing operations 0.09 0.10 0.20 0.22
Discontinued operations 0.05 0.08 0.22 0.20
Net income $ 0.14 $ 0.18 $ 0.42 $ 0.42
Number of shares (in thousands) used in computing:        
-basic earnings per common share 9,749 9,619 9,730 9,593
-diluted earnings per common share 9,818 9,707 9,813 9,690