Littlefield Corp. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011; Reports Asset Impairment Charges
Littlefield Corp. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company has reported loss excluding noted items (non-GAAP basis) was $72,570 compared to $116,022 for the same period a year ago. For the fourth quarter, total revenue increased to $2,162,000, surpassing last year by $77,000 or 4%. Loss was $811,406 or basic LPS of $0.05 compared to $481,151 or $0.03 for the same period a year ago.
For the year, the company has reported income excluding noted items (non-GAAP basis) was $590,510 compared to $1,173,302 for the same period a year ago. Consolidated revenue was $9,434,572, within 2% or $200,738 of last year's record-setting level of annual bingo revenue. Loss was $953,763 or basic LPS of $0.06 compared to $193,306 or $0.01 for the same period a year ago.
The company reported asset impairment charges of $388,742.