2016 Q4 Form 10-Q Financial Statement

#000156918716000033 Filed on November 02, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $50.48M $63.86M $75.13M
YoY Change 22.19% -15.0% 55.72%
Cost Of Revenue $57.25M $45.46M $58.64M
YoY Change 21.14% -22.48% 61.28%
Gross Profit $19.74M $18.39M $16.49M
YoY Change 24.78% 11.55% 38.75%
Gross Profit Margin 39.11% 28.8% 21.95%
Selling, General & Admin $2.690M $2.160M $1.870M
YoY Change 28.1% 15.51% 7.47%
% of Gross Profit 13.63% 11.74% 11.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.690M $8.880M $6.320M
YoY Change 57.05% 40.51% 38.6%
% of Gross Profit 49.09% 48.28% 38.33%
Operating Expenses $12.38M $57.00M $67.12M
YoY Change 49.88% -15.07% 56.59%
Operating Profit $19.74M $6.858M $16.49M
YoY Change 24.79% -58.41% 206.13%
Interest Expense -$1.950M $4.124M $3.518M
YoY Change 14.71% 17.23% 28.68%
% of Operating Profit -9.88% 60.13% 21.34%
Other Income/Expense, Net -$10.00K $35.00K $17.00K
YoY Change -99.34% 105.88% -71.19%
Pretax Income $5.250M $7.962M $4.455M
YoY Change -36.97% 78.72% 64.33%
Income Tax $100.0K $16.00K $118.0K
% Of Pretax Income 1.9% 0.2% 2.65%
Net Earnings $5.145M $5.212M $4.337M
YoY Change -39.06% 20.18% 168.54%
Net Earnings / Revenue 10.19% 8.16% 5.77%
Basic Earnings Per Share
Diluted Earnings Per Share $63.73K $101.1K $103.6K
COMMON SHARES
Basic Shares Outstanding 36.43M shares 33.79M shares 25.96M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.90M $23.90M $15.20M
YoY Change -18.89% 57.24% -11.11%
Cash & Equivalents $21.94M $23.89M $15.19M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $0.00 $0.00 $0.00
Prepaid Expenses
Receivables $15.10M $15.10M $22.00M
Other Receivables $39.40M $40.00M $48.10M
Total Short-Term Assets $76.40M $79.00M $85.30M
YoY Change -39.22% -7.39% 61.86%
LONG-TERM ASSETS
Property, Plant & Equipment $768.7M $726.7M $555.6M
YoY Change 51.26% 30.8% 16.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.24M $10.36M
YoY Change 625.37%
Other Assets $3.300M $3.500M $4.200M
YoY Change -52.86% -16.67% -4.55%
Total Long-Term Assets $906.1M $852.8M $608.8M
YoY Change 60.69% 40.09% 18.3%
TOTAL ASSETS
Total Short-Term Assets $76.40M $79.00M $85.30M
Total Long-Term Assets $906.1M $852.8M $608.8M
Total Assets $982.5M $931.8M $694.1M
YoY Change 42.48% 34.25% 22.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.80M $10.60M $6.300M
YoY Change 66.15% 68.25% -17.11%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $61.90M $61.80M $60.50M
YoY Change -11.06% 2.15% 27.64%
LONG-TERM LIABILITIES
Long-Term Debt $522.2M $514.0M $420.1M
YoY Change 38.29% 22.35% 25.1%
Other Long-Term Liabilities $49.40M $46.10M $27.90M
YoY Change 195.81% 65.23% 30.37%
Total Long-Term Liabilities $571.6M $560.1M $448.0M
YoY Change 44.97% 25.02% 25.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.90M $61.80M $60.50M
Total Long-Term Liabilities $571.6M $560.1M $448.0M
Total Liabilities $633.5M $621.9M $508.4M
YoY Change 36.58% 22.31% 25.67%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $197.5M $153.9M $64.29M
YoY Change 91.35% 139.41% 25615.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $148.1M $107.8M $10.09M
YoY Change
Total Liabilities & Shareholders Equity $982.5M $931.8M $694.1M
YoY Change 42.48% 34.25% 22.34%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $5.145M $5.212M $4.337M
YoY Change -39.06% 20.18% 168.54%
Depreciation, Depletion And Amortization $9.690M $8.880M $6.320M
YoY Change 57.05% 40.51% 38.6%
Cash From Operating Activities $21.21M $19.83M $12.31M
YoY Change 37.1% 61.09% 0.16%
INVESTING ACTIVITIES
Capital Expenditures -$28.83M -$30.42M -$40.14M
YoY Change 66.74% -24.22% 32.96%
Acquisitions
YoY Change
Other Investing Activities -$9.730M -$7.880M -$340.0K
YoY Change -145.13% 2217.65% -73.64%
Cash From Investing Activities -$38.57M -$38.29M -$40.49M
YoY Change -1001.17% -5.43% 28.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.84M 22.36M 16.00M
YoY Change -299.5% 39.75% -20.04%
NET CHANGE
Cash From Operating Activities 21.21M 19.83M 12.31M
Cash From Investing Activities -38.57M -38.29M -40.49M
Cash From Financing Activities 15.84M 22.36M 16.00M
Net Change In Cash -1.520M 3.900M -12.18M
YoY Change -112.87% -132.02% -1567.47%
FREE CASH FLOW
Cash From Operating Activities $21.21M $19.83M $12.31M
Capital Expenditures -$28.83M -$30.42M -$40.14M
Free Cash Flow $50.04M $50.25M $52.45M
YoY Change 52.75% -4.19% 23.47%

Facts In Submission

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CY2016Q3 us-gaap Income Tax Expense Benefit
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us-gaap Net Cash Provided By Used In Operating Activities
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CY2015Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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14314000 USD
CY2016Q3 us-gaap Net Income Loss
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5212000 USD
us-gaap Net Income Loss
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24616000 USD
CY2015Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Noncontrolling Interest Increase From Business Combination
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us-gaap Operating Income Loss
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13000 USD
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0 USD
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0 USD
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-1026000 USD
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-1574000 USD
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0 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
0 USD
CY2015Q4 us-gaap Other Liabilities
OtherLiabilities
25471000 USD
CY2016Q3 us-gaap Other Liabilities
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39517000 USD
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
56000 USD
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
154000 USD
us-gaap Partners Capital Account Redemptions
PartnersCapitalAccountRedemptions
58000 USD
us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
1715000 USD
us-gaap Payments For Leasing Costs
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1601000 USD
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
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79000 USD
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
58000 USD
us-gaap Payments For Tenant Improvements
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CY2016Q3 us-gaap Preferred Stock Shares Outstanding
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0 shares
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0 USD
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Debt
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us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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96312000 USD
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us-gaap Profit Loss
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22740000 USD
CY2016Q3 us-gaap Profit Loss
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us-gaap Profit Loss
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37610000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
123000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
178000 USD
CY2015Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
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CY2016Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
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133288000 USD
CY2015Q4 us-gaap Real Estate Investment Property At Cost
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CY2016Q3 us-gaap Real Estate Investment Property At Cost
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CY2016Q3 us-gaap Real Estate Investment Property Net
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38552000 USD
us-gaap Real Estate Revenue Net
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108555000 USD
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2056000 USD
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2356000 USD
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us-gaap Repayments Of Debt
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us-gaap Repayments Of Debt
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us-gaap Revenues
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us-gaap Revenues
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216000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
1120000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
49548000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
107847000 USD
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
225720000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
309968000 USD
us-gaap Straight Line Rent
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1724000 USD
us-gaap Straight Line Rent
StraightLineRent
765000 USD
CY2015Q3 us-gaap Weighted Average General Partnership Units Outstanding
WeightedAverageGeneralPartnershipUnitsOutstanding
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us-gaap Weighted Average General Partnership Units Outstanding
WeightedAverageGeneralPartnershipUnitsOutstanding
15159000 shares
CY2016Q3 us-gaap Weighted Average General Partnership Units Outstanding
WeightedAverageGeneralPartnershipUnitsOutstanding
17720000 shares
us-gaap Weighted Average General Partnership Units Outstanding
WeightedAverageGeneralPartnershipUnitsOutstanding
16956000 shares
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
40691000 shares
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Write Off Of Deferred Debt Issuance Cost
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us-gaap Write Off Of Deferred Debt Issuance Cost
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us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed. Such estimates are based on management&#8217;s historical experience and best judgment after considering past, current and expected events and economic conditions. Actual results could differ from management&#8217;s estimates.</font></div></div>

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