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EXCEL - IDEA: XBRL DOCUMENT - LIFE PARTNERS HOLDINGS INCFinancial_Report.xls
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v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
12 Months Ended
Feb. 29, 2012
Feb. 28, 2011
Feb. 28, 2010
REVENUES $ 32,922,189 $ 101,579,213 $ 108,792,559
BROKERAGE FEES 21,207,759 46,448,548 49,251,785
REVENUES, NET OF BROKERAGE FEES 11,714,430 55,130,665 59,540,774
OPERATING AND ADMINISTRATIVE EXPENSES:      
General and administrative 7,778,958 9,828,675 10,447,259
Legal and professional fees 6,522,221 1,986,648 1,311,637
Premium advances, net 1,363,915 882,920 (1,715,265)
Impairment of investment in policies 906,451 6,212,150 2,139,183
Settlement costs 613,374 789,622 3,615,726
Depreciation and amortization 266,150 282,859 313,050
Benefits, Losses and Expenses, Total 17,451,069 19,982,874 16,111,590
INCOME (LOSS) FROM OPERATIONS (5,736,639) 35,147,791 43,429,184
Interest and other income 1,374,390 834,050 1,493,464
Interest expense (5,694) (1,505) (46,988)
Gain on investment in life settlements trust   143,554 222,186
Realized gain (loss) and impairment on investment securities (185,456) 88,492 (1,823,364)
Nonoperating Income (Expense), Total 1,183,240 1,064,591 (154,702)
INCOME (LOSS) BEFORE INCOME TAXES (4,553,399) 36,212,382 43,274,482
INCOME TAXES (1,429,921) 12,786,633 17,197,268
NET INCOME (LOSS) (3,123,478) 23,425,749 26,077,214
EARNINGS (LOSS):      
Per share - Basic and Diluted $ (0.17) $ 1.26 $ 1.40
AVERAGE COMMON AND COMMON EQUIVALENT SHARES OUTSTANDING:      
Basic 18,647,468 18,641,554 18,573,770
Diluted 18,647,468 18,641,554 18,573,770
THE COMPONENTS OF COMPREHENSIVE INCOME:      
Net income (loss) (3,123,478) 23,425,749 26,077,214
Gain (loss) on investment securities, net of taxes 89,912 (89,912) 2,298,640
COMPREHENSIVE INCOME $ (3,033,566) $ 23,335,837 $ 28,375,854
Common share dividends declared $ 0.70 $ 1.04 $ 0.86