CORNING NATURAL GAS CORP: 10-Q filed 2012-05-11

Name: CORNING NATURAL GAS CORP: 10-Q filed 2012-05-11
Creator: CORNING NATURAL GAS CORP
License: https://creativecommons.org/licenses/by/4.0/

What CORNING NATURAL GAS CORP reported in its quarterly report filed 2012-05-11 (fiscal Q2 2012): 39 published measures, 127 facts as tagged in accession 0000024751-12-000023.

This filing

Form: 10-Q (quarterly report)
Filed: 2012-05-11
Fiscal period: fiscal Q2 2012
Accession: 0000024751-12-000023 on SEC EDGAR

Values are as tagged in this filing. A later filing can restate them; a measure with a published history links to it, and the history shows the latest-filed value per period. All CORNING NATURAL GAS CORP filings.

Reported measures

Total assets

Resources recognized on the balance sheet. Book assets are not the market value of the business.

Period	Value	Unit
At 2012-03-31	46,755,005	USD
At 2011-09-30	45,451,432	USD
At 2011-03-31	42,351,409	USD

Total liabilities

Recognized obligations at the reporting date. The definition and scope differ from interest-bearing debt.

Period	Value	Unit
At 2012-03-31	8,806,874	USD
At 2011-09-30	8,788,034	USD
At 2011-03-31	9,160,282	USD

Stockholders equity

The reported residual interest after liabilities. It is an accounting amount, not market capitalization.

Period	Value	Unit
At 2012-03-31	18,126,303	USD
At 2011-09-30	14,646,582	USD
At 2011-03-31	14,945,647	USD

Cash and cash equivalents

Cash and qualifying short-term liquid investments under the filer’s accounting policy. Restricted cash and longer-term investments may be reported separately.

Period	Value	Unit
At 2012-03-31	168,164	USD
At 2011-09-30	173,245	USD
At 2011-03-31	151,969	USD
At 2010-09-30	69,552	USD

Net income or loss

Reported profit or loss for the period. Check the filing for attribution, exceptional items and discontinued operations before comparing companies.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	1,137,157	USD	91
2011-10-01 to 2012-03-31	1,547,961	USD	183
2011-01-01 to 2011-03-31	1,168,859	USD	90
2010-10-01 to 2011-03-31	1,681,265	USD	182

Operating cash flow

Cash generated or used by operating activities. Working-capital timing can make this differ substantially from reported income.

Period	Value	Unit	Days
2011-10-01 to 2012-03-31	2,618,018	USD	183
2010-10-01 to 2011-03-31	3,876,404	USD	182

Financing cash flow

Net cash from financing activities, including borrowing, repayments and transactions with owners. A positive amount does not establish operating profitability.

Period	Value	Unit	Days
2011-10-01 to 2012-03-31	359,118	USD	183
2010-10-01 to 2011-03-31	-1,830,531	USD	182

Investing cash flow

Net cash from investing activities, including asset purchases, disposals and investment transactions. This differs from capital expenditure payments alone.

Period	Value	Unit	Days
2011-10-01 to 2012-03-31	-2,982,217	USD	183
2010-10-01 to 2011-03-31	-1,963,456	USD	182

Retained earnings or deficit

Accumulated undistributed earnings or deficit at the reporting date. This balance is not cash available for distribution.

Period	Value	Unit
At 2012-03-31	2,120,946	USD
At 2011-09-30	1,018,766	USD
At 2011-03-31	3,337,590	USD

Basic weighted-average shares

Time-weighted shares used for basic earnings per share. This denominator differs from shares outstanding at a single reporting date.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	1,968,568	shares	91
2011-10-01 to 2012-03-31	1,892,101	shares	183
2011-01-01 to 2011-03-31	1,740,500	shares	90
2010-10-01 to 2011-03-31	1,731,018	shares	182

Diluted weighted-average shares

Weighted-average shares used for diluted earnings per share. Potential shares are included under the applicable dilution rules, not simply added to outstanding shares.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	1,981,379	shares	91
2011-10-01 to 2012-03-31	1,905,948	shares	183
2011-01-01 to 2011-03-31	1,759,407	shares	90
2010-10-01 to 2011-03-31	1,747,800	shares	182

Basic earnings per share

Reported earnings or loss per basic common share or unit. Inspect attribution, share classes and restatements before comparing periods. This is not a market return.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	0.58	USD/shares	91
2011-10-01 to 2012-03-31	0.82	USD/shares	183
2011-01-01 to 2011-03-31	0.67	USD/shares	90
2010-10-01 to 2011-03-31	0.97	USD/shares	182

Diluted earnings per share

Reported earnings or loss per share under dilution rules. Antidilutive instruments may be excluded. A diluted value can equal the basic value without implying no potential dilution.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	0.57	USD/shares	91
2011-10-01 to 2012-03-31	0.81	USD/shares	183
2011-01-01 to 2011-03-31	0.66	USD/shares	90
2010-10-01 to 2011-03-31	0.96	USD/shares	182

Income tax expense or benefit

Current and deferred income tax expense or benefit for continuing operations. This accounting expense differs from cash taxes paid.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	652,066	USD	91
2011-10-01 to 2012-03-31	1,030,665	USD	183
2011-01-01 to 2011-03-31	655,183	USD	90
2010-10-01 to 2011-03-31	966,540	USD	182

Net property, plant and equipment

Carrying amount of property, plant and equipment after accumulated depreciation, depletion and amortization. It is not replacement cost or market value.

Period	Value	Unit
At 2012-03-31	35,549,812	USD
At 2011-09-30	33,128,614	USD
At 2011-03-31	32,149,353	USD

Share-based compensation expense

Reported noncash expense for share-based payment arrangements. Noncash treatment does not mean the awards have no economic cost to shareholders.

Period	Value	Unit	Days
2011-10-01 to 2012-03-31	200,365	USD	183
2010-10-01 to 2011-03-31	27,178	USD	182

Operating income or loss

Operating revenue less operating expenses for the reporting period. It excludes items outside the reported operating result and is not free cash flow.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	1,953,157	USD	91
2011-10-01 to 2012-03-31	2,693,362	USD	183
2011-01-01 to 2011-03-31	2,047,930	USD	90
2010-10-01 to 2011-03-31	2,916,305	USD	182

Current assets

Assets classified as current under the normal operating cycle or one-year boundary. Not all current assets can be converted immediately into cash.

Period	Value	Unit
At 2012-03-31	5,706,061	USD
At 2011-09-30	6,496,394	USD
At 2011-03-31	5,470,836	USD

Interest expense

Borrowing costs recognized as interest expense. This is distinct from cash interest paid and may not include every capitalized borrowing cost.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	248,761	USD	91
2011-10-01 to 2012-03-31	500,120	USD	183
2011-01-01 to 2011-03-31	245,037	USD	90
2010-10-01 to 2011-03-31	453,679	USD	182

Current liabilities

Obligations classified as current under the operating-cycle or one-year boundary. The balance includes more than short-term borrowing.

Period	Value	Unit
At 2012-03-31	9,110,064	USD
At 2011-09-30	10,482,015	USD
At 2011-03-31	8,242,552	USD

Current accounts payable

Current amounts owed to suppliers for goods and services received. This is one component of current liabilities, not all accrued obligations.

Period	Value	Unit
At 2012-03-31	1,599,681	USD
At 2011-09-30	1,882,249	USD
At 2011-03-31	1,975,392	USD

Net current accounts receivable

Current customer receivables after the allowance for credit loss. The balance is not cash collected or a guarantee of collection.

Period	Value	Unit
At 2012-03-31	2,677,183	USD
At 2011-09-30	1,598,241	USD
At 2011-03-31	3,520,114	USD

Operating expenses

Recurring operating costs under this accounting concept, generally excluding production costs included in cost of sales. Check filing presentation before combining expense subtotals.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	2,780,258	USD	91
2011-10-01 to 2012-03-31	4,956,234	USD	183
2011-01-01 to 2011-03-31	2,749,700	USD	90
2010-10-01 to 2011-03-31	5,236,061	USD	182

Gross profit

Revenue less the costs directly attributed to the goods or services sold. It precedes other operating expenses and is not net income.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	4,733,415	USD	91
2011-10-01 to 2012-03-31	7,649,596	USD	183
2011-01-01 to 2011-03-31	4,797,630	USD	90
2010-10-01 to 2011-03-31	8,152,366	USD	182

Common shares outstanding

Common shares outstanding at the reporting date. This point-in-time count differs from the weighted-average shares used for earnings per share and can exclude other share classes.

Period	Value	Unit
At 2012-03-31	1,970,818	shares
At 2011-09-30	1,787,769	shares
At 2011-03-31	1,741,899	shares

Additional paid-in capital

Capital contributed above par value under this concept. It records historical contributions, not the current value of the equity or cash on hand.

Period	Value	Unit
At 2012-03-31	9,017,260	USD
At 2011-09-30	7,382,167	USD
At 2011-03-31	8,299,843	USD

Accumulated other comprehensive income or loss

Cumulative other comprehensive items after tax, such as translation and unrealized hedging or securities effects. These amounts have not passed through net income.

Period	Value	Unit
At 2012-03-31	-2,865,993	USD
At 2011-09-30	-2,693,196	USD
At 2011-03-31	-2,498,116	USD

Gross property, plant and equipment

Cost of property, plant and equipment before accumulated depreciation. Historical cost does not indicate current value or replacement cost.

Period	Value	Unit
At 2012-03-31	50,751,718	USD
At 2011-09-30	47,490,565	USD
At 2011-03-31	45,792,573	USD

Accumulated depreciation on property, plant and equipment

Cumulative depreciation, depletion and amortization recorded against property, plant and equipment. It measures cost allocation to date, not physical wear or market value.

Period	Value	Unit
At 2012-03-31	15,201,906	USD
At 2011-09-30	14,361,951	USD
At 2011-03-31	13,643,220	USD

Other noncurrent assets

Noncurrent assets the filer does not present separately. The composition differs by filer and is described only in the filing.

Period	Value	Unit
At 2012-03-31	219,012	USD
At 2011-09-30	221,089	USD
At 2011-03-31	230,485	USD

Other noncurrent liabilities

Noncurrent liabilities the filer does not present separately. The composition differs by filer and is described only in the filing.

Period	Value	Unit
At 2012-03-31	306,781	USD
At 2011-09-30	316,556	USD
At 2011-03-31	184,458	USD

Accrued current liabilities

Current obligations accrued for goods and services received but not yet invoiced or paid. This is one component of current liabilities, not all short-term obligations.

Period	Value	Unit
At 2012-03-31	1,165,184	USD
At 2011-09-30	1,338,446	USD
At 2011-03-31	1,011,069	USD

Pre-tax income or loss from continuing operations

Income or loss from continuing operations before income taxes and noncontrolling interests. It excludes discontinued operations and is not net income.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	1,789,223	USD	91
2011-10-01 to 2012-03-31	2,578,626	USD	183
2011-01-01 to 2011-03-31	1,824,042	USD	90
2010-10-01 to 2011-03-31	2,647,805	USD	182

Comprehensive income or loss

Net income plus other comprehensive income after tax. It includes unrealized items that net income excludes and is not a cash measure.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	1,100,538	USD	91
2011-10-01 to 2012-03-31	1,375,164	USD	183
2011-01-01 to 2011-03-31	1,074,303	USD	90
2010-10-01 to 2011-03-31	1,423,001	USD	182

Depreciation expense

Depreciation recognized for the period under this concept. It is a noncash allocation of asset cost and may exclude amortization and depletion reported elsewhere.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	418,841	USD	91
2011-10-01 to 2012-03-31	838,592	USD	183
2011-01-01 to 2011-03-31	326,903	USD	90
2010-10-01 to 2011-03-31	620,361	USD	182

Current income tax expense or benefit

Income tax expense or benefit for the period that is currently payable or refundable. It differs from cash taxes paid and from total tax expense.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	448,274	USD	91
2011-10-01 to 2012-03-31	210,843	USD	183
2011-01-01 to 2011-03-31	775,042	USD	90
2010-10-01 to 2011-03-31	817,409	USD	182

Deferred income tax expense or benefit

The deferred portion of income tax expense or benefit, arising from timing differences. It is not tax paid in the period.

Period	Value	Unit	Days
2012-01-01 to 2012-03-31	203,792	USD	91
2011-10-01 to 2012-03-31	819,822	USD	183
2011-01-01 to 2011-03-31	-119,859	USD	90
2010-10-01 to 2011-03-31	149,131	USD	182

Income taxes paid, net

Cash income taxes paid net of refunds during the period. It differs from income tax expense and can reflect prior years and estimated payments.

Period	Value	Unit	Days
2011-10-01 to 2012-03-31	79,554	USD	183
2010-10-01 to 2011-03-31	477,888	USD	182

Change in accounts payable

The cash flow adjustment for the change in payables during the period. A positive value under this concept means payables grew and added to operating cash flow.

Period	Value	Unit	Days
2011-10-01 to 2012-03-31	-282,568	USD	183
2010-10-01 to 2011-03-31	607,508	USD	182

Inspect the source

Entity: CORNING NATURAL GAS CORP / CIK 0000024751
Captured: 2026-09-22 19:27 UTC
SEC response SHA-256: 8673e00bb5fd344685267055bb75ba1b9b6db53db55ecdb3dce1306b275e03b8

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