Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Data

v2.4.0.8
Quarterly Financial Data
 12 Months Ended
Jun. 30, 2013
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data
Note 18 - Quarterly Financial Data (Unaudited)
The following table summarizes the unaudited quarterly financial data, including (loss) income before income taxes, net (loss) income, and net (loss) income per common share for the fiscal years ended:
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
June 30,
2013
 
(In thousands, except per share data)
Fiscal year ended June 30, 2013
 
 
 
 
 
 
 
 
 
Total operating revenues
$
1,660

 
$
1,748

 
$
1,937

 
$
1,725

 
$
7,070

Total operating expenses
$
7,542

 
$
9,485

 
$
7,303

 
$
5,227

 
$
29,557

Loss before income taxes
$
(5,646
)
 
$
(7,606
)
 
$
(4,653
)
 
$
(3,128
)
 
$
(21,033
)
Net loss
$
(5,310
)
 
$
(7,285
)
 
$
(4,332
)
 
$
(2,840
)
 
$
(19,767
)
 
 
 
 
 
 
 
 
 
 
Net loss per basic common share outstanding
$(0.10)
 
$(0.14)
 
$(0.09)
 
$(0.08)
 
$(0.41)
Net loss per diluted common share outstanding
$(0.10)

 
$(0.14)
 
$(0.09)
 
$(0.08)
 
$(0.41)

 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
June 30, 2012
 
(In thousands, except per share data)
Fiscal year ended June 30, 2012
 
 
 
 
 
 
 
 
 
Total operating revenues
$
3,735

 
$
3,202

 
$
4,805

 
$
1,970

 
$
13,712

Total operating expenses (income)
$
2,883

 
$
8,076

 
$
9,367

 
$
(26,388
)
 
$
(6,062
)
Income (loss) before income taxes
$
1,123

 
$
(4,755
)
 
$
(4,590
)
 
$
28,754

 
$
20,532

Net income (loss)
$
940

 
$
(4,557
)
 
$
(4,590
)
 
$
34,705

 
$
26,498

 
 
 
 
 
 
 
 
 
 
Net income (loss) per basic common share outstanding
$0.02
 
$(0.08)
 
$(0.09)
 
$0.64

 
$0.49

Net income (loss) per diluted common share outstanding
$0.02
 
$(0.08)
 
$(0.09)
 
$0.64

 
$0.49

During the fourth quarter of fiscal year 2012, Magellan, through its wholly owned subsidiary MPA, completed the Santos SA (see Note 2) and became the sole owner of the Palm Valley Interests and of the Dingo Interests, while Santos became the sole owner of the Mereenie Interests. The transaction resulted in a gain on sale of assets in the amount of $36.2 million.