2018 Q1 Form 10-Q Financial Statement

#000150021718000055 Filed on May 04, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $80.73M $73.79M
YoY Change 9.4% 4.33%
Cost Of Revenue $28.97M $27.40M
YoY Change 5.73% 9.21%
Gross Profit $51.77M $46.40M
YoY Change 11.57% 1.65%
Gross Profit Margin 64.12% 62.88%
Selling, General & Admin $5.979M $5.518M
YoY Change 8.35% 9.61%
% of Gross Profit 11.55% 11.89%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $33.28M $17.99M
YoY Change 85.03% 3.05%
% of Gross Profit 64.29% 38.77%
Operating Expenses $67.81M $50.46M
YoY Change 34.38% 7.17%
Operating Profit $12.92M $23.33M
YoY Change -44.62% -1.33%
Interest Expense $13.82M $13.33M
YoY Change 3.67% 2.97%
% of Operating Profit 106.97% 57.14%
Other Income/Expense, Net $209.0K $310.0K
YoY Change -32.58% 1191.67%
Pretax Income -$690.0K $10.31M
YoY Change -106.69% -3.82%
Income Tax -$65.00K -$163.0K
% Of Pretax Income -1.58%
Net Earnings -$453.0K $7.387M
YoY Change -106.13% -3.45%
Net Earnings / Revenue -0.56% 10.01%
Basic Earnings Per Share -$0.01 $0.16
Diluted Earnings Per Share -$0.01 $0.16
COMMON SHARES
Basic Shares Outstanding 46.94M shares 46.17M shares
Diluted Shares Outstanding 46.94M shares 64.06M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.30M $190.1M
YoY Change -70.91% 332.05%
Cash & Equivalents $55.34M $190.1M
Short-Term Investments
Other Short-Term Assets $6.500M $6.900M
YoY Change -5.8% 23.21%
Inventory
Prepaid Expenses
Receivables $8.800M $7.600M
Other Receivables $0.00 $0.00
Total Short-Term Assets $70.60M $204.6M
YoY Change -65.49% 257.69%
LONG-TERM ASSETS
Property, Plant & Equipment $2.055B $1.823B
YoY Change 12.71% -0.75%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.900M $9.800M
YoY Change 1.02% 5.38%
Total Long-Term Assets $2.143B $1.911B
YoY Change 12.15% -0.51%
TOTAL ASSETS
Total Short-Term Assets $70.60M $204.6M
Total Long-Term Assets $2.143B $1.911B
Total Assets $2.214B $2.115B
YoY Change 4.64% 6.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.50M $39.10M
YoY Change 11.25% 5.68%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $52.20M $45.30M
YoY Change 15.23% 5.1%
LONG-TERM LIABILITIES
Long-Term Debt $1.284B $1.161B
YoY Change 10.62% 9.4%
Other Long-Term Liabilities $48.20M $47.50M
YoY Change 1.47% -11.05%
Total Long-Term Liabilities $1.332B $1.208B
YoY Change 10.26% 8.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $52.20M $45.30M
Total Long-Term Liabilities $1.332B $1.208B
Total Liabilities $1.384B $1.254B
YoY Change 10.42% 8.31%
SHAREHOLDERS EQUITY
Retained Earnings -$110.6M -$81.92M
YoY Change 34.95% 20.96%
Common Stock $920.3M $905.8M
YoY Change 1.6% 4.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $823.0M $834.9M
YoY Change
Total Liabilities & Shareholders Equity $2.214B $2.115B
YoY Change 4.64% 6.95%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$453.0K $7.387M
YoY Change -106.13% -3.45%
Depreciation, Depletion And Amortization $33.28M $17.99M
YoY Change 85.03% 3.05%
Cash From Operating Activities $43.97M $47.61M
YoY Change -7.63% 38.95%
INVESTING ACTIVITIES
Capital Expenditures -$10.10M -$12.30M
YoY Change -17.89% -28.07%
Acquisitions
YoY Change
Other Investing Activities -$1.200M -$1.000M
YoY Change 20.0% 25.0%
Cash From Investing Activities -$11.37M -$13.16M
YoY Change -13.61% -26.49%
FINANCING ACTIVITIES
Cash Dividend Paid $17.39M $16.72M
YoY Change 3.98% 5.66%
Common Stock Issuance & Retirement, Net $30.08M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$59.34M $110.7M
YoY Change -153.58% -1001.61%
NET CHANGE
Cash From Operating Activities $43.97M $47.61M
Cash From Investing Activities -$11.37M -$13.16M
Cash From Financing Activities -$59.34M $110.7M
Net Change In Cash -$26.73M $145.2M
YoY Change -118.41% 3456.96%
FREE CASH FLOW
Cash From Operating Activities $43.97M $47.61M
Capital Expenditures -$10.10M -$12.30M
Free Cash Flow $54.07M $59.91M
YoY Change -9.74% 16.64%

Facts In Submission

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1038000 USD
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140000 USD
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371000 USD
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457000 USD
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13702000 USD
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InterestExpense
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CY2017Q4 us-gaap Land Available For Development
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9392000 USD
CY2018Q1 us-gaap Land Available For Development
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9392000 USD
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757000 USD
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794000 USD
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1415720000 USD
CY2018Q1 us-gaap Liabilities
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1384233000 USD
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2259864000 USD
CY2018Q1 us-gaap Liabilities And Stockholders Equity
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2213566000 USD
CY2017Q4 us-gaap Line Of Credit
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0 USD
CY2018Q1 us-gaap Line Of Credit
LineOfCredit
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CY2018Q1 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.0340
CY2018Q1 us-gaap Loss On Contract Termination For Default
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7500000 USD
CY2017Q1 us-gaap Management Fee Expense
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486000 USD
CY2018Q1 us-gaap Management Fee Expense
ManagementFeeExpense
488000 USD
CY2017Q4 us-gaap Off Market Lease Unfavorable
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30182000 USD
CY2017Q1 us-gaap Marketing Expense
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436000 USD
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412000 USD
CY2017Q4 us-gaap Minority Interest
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110745000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
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-59336000 USD
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CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2017Q1 us-gaap Net Income Loss
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CY2018Q1 us-gaap Net Income Loss
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-453000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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7387000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-453000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
10248000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-453000 USD
CY2017Q1 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
2861000 USD
CY2018Q1 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-166000 USD
CY2017Q4 us-gaap Notes Payable
NotesPayable
279889000 USD
CY2018Q1 us-gaap Notes Payable
NotesPayable
205773000 USD
CY2018Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 Segment
CY2018Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
26 Property
CY2018Q1 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
29245000 USD
CY2017Q1 us-gaap Operating Expenses
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50463000 USD
CY2018Q1 us-gaap Operating Expenses
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67812000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
23329000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
12920000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due
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37516000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
2464000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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2613000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
3460000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
3422000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
3347000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
22210000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
885867000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
130747000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
97455000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
116692000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
139343000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
159736000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
241894000 USD
CY2017Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
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CY2018Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
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CY2017Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
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CY2018Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
8660000 USD
CY2017Q4 us-gaap Other Assets
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CY2018Q1 us-gaap Other Assets
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45283000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
145000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
320000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-996000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
2861000 USD
CY2017Q4 us-gaap Other Finite Lived Intangible Assets Gross
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227000 USD
CY2018Q1 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
214000 USD
CY2017Q4 us-gaap Other Liabilities
OtherLiabilities
63000 USD
CY2018Q1 us-gaap Other Liabilities
OtherLiabilities
67000 USD
CY2017Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-796000 USD
CY2018Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2031000 USD
CY2017Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
0 USD
CY2018Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
4000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
310000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
209000 USD
CY2017Q1 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
3752000 USD
CY2018Q1 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
4531000 USD
CY2017Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
7253000 USD
CY2018Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
10138000 USD
CY2017Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
5000000 USD
CY2017Q1 us-gaap Percentage Rent
PercentageRent
455000 USD
CY2018Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
0 USD
CY2017Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1812000 USD
CY2018Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2656000 USD
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
16723000 USD
CY2018Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
17388000 USD
CY2018Q1 us-gaap Percentage Rent
PercentageRent
436000 USD
CY2017Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
5945000 USD
CY2018Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
6459000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
30075000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
250000000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
CY2018Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-176000 USD
CY2017Q1 us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
0 USD
CY2018Q1 us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
35000000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
10308000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
-691000 USD
CY2017Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
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537431000 USD
CY2018Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
568348000 USD
CY2017Q4 us-gaap Real Estate Investment Property At Cost
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2614138000 USD
CY2018Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2623330000 USD
CY2017Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2076707000 USD
CY2018Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2054982000 USD
CY2017Q1 us-gaap Real Estate Tax Expense
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7536000 USD
CY2018Q1 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
8546000 USD
CY2017Q4 us-gaap Rental Properties
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2536474000 USD
CY2018Q1 us-gaap Rental Properties
RentalProperties
2539491000 USD
CY2017Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
20000000 USD
CY2018Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2017Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
130795000 USD
CY2018Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
74116000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents
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9836000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
9344000 USD
CY2018Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
9889000 USD
CY2017Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
600000 USD
CY2018Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
700000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-97280000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-110550000 USD
CY2017Q1 us-gaap Revenue From Leased And Owned Hotels
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9865000 USD
CY2018Q1 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
9783000 USD
CY2017Q1 us-gaap Revenues
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73792000 USD
CY2018Q1 us-gaap Revenues
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80732000 USD
CY2017Q4 us-gaap Secured Debt
SecuredDebt
279550000 USD
CY2018Q1 us-gaap Secured Debt
SecuredDebt
205486000 USD
CY2017Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
6570000 USD
CY2018Q1 us-gaap Security Deposit Liability
SecurityDepositLiability
8683000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
639000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
727000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
0 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
833710000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
823040000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
844144000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
829333000 USD
CY2017Q1 us-gaap Straight Line Rent
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200000 USD
CY2018Q1 us-gaap Straight Line Rent
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CY2017Q1 us-gaap Tenant Reimbursements
TenantReimbursements
7888000 USD
CY2018Q1 us-gaap Tenant Reimbursements
TenantReimbursements
8342000 USD
CY2017Q4 us-gaap Unsecured Debt
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1045470000 USD
CY2018Q1 us-gaap Unsecured Debt
UnsecuredDebt
1045178000 USD
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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64062610 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46935820 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46173788 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46935820 shares

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