2017 Q1 Form 10-Q Financial Statement

#000156918717000022 Filed on May 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $90.75M $60.09M
YoY Change 51.04% 27.14%
Cost Of Revenue $69.77M $42.72M
YoY Change 63.32% 23.61%
Gross Profit $20.98M $17.37M
YoY Change 20.76% 36.76%
Gross Profit Margin 23.12% 28.91%
Selling, General & Admin $2.990M $2.480M
YoY Change 20.56% 6.44%
% of Gross Profit 14.25% 14.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.473M $5.468M
YoY Change 18.38% 30.19%
% of Gross Profit 30.86% 31.48%
Operating Expenses $82.29M $54.09M
YoY Change 52.13% 28.88%
Operating Profit $8.466M $5.999M
YoY Change 41.12% -52.77%
Interest Expense $4.535M $3.791M
YoY Change 19.63% 24.46%
% of Operating Profit 53.57% 63.19%
Other Income/Expense, Net $37.00K $76.00K
YoY Change -51.32% -157.58%
Pretax Income $9.055M $26.75M
YoY Change -66.15% 230.79%
Income Tax $302.0K $218.0K
% Of Pretax Income 3.34% 0.81%
Net Earnings $5.936M $17.37M
YoY Change -65.83% 113.97%
Net Earnings / Revenue 6.54% 28.91%
Basic Earnings Per Share
Diluted Earnings Per Share $157.9K $375.8K
COMMON SHARES
Basic Shares Outstanding 37.62M shares 30.19M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.00M $18.80M
YoY Change -46.81% -40.32%
Cash & Equivalents $10.04M $18.81M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $2.700M
Prepaid Expenses
Receivables $14.10M $13.40M
Other Receivables $50.20M $31.50M
Total Short-Term Assets $74.30M $66.40M
YoY Change 11.9% -38.69%
LONG-TERM ASSETS
Property, Plant & Equipment $779.8M $664.6M
YoY Change 17.33% 44.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.79M
YoY Change
Other Assets $3.600M $3.700M
YoY Change -2.7% -7.5%
Total Long-Term Assets $918.6M $743.6M
YoY Change 23.53% 50.01%
TOTAL ASSETS
Total Short-Term Assets $74.30M $66.40M
Total Long-Term Assets $918.6M $743.6M
Total Assets $992.9M $810.0M
YoY Change 22.58% 34.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.00M $6.800M
YoY Change 61.76% 21.43%
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 $68.50M $50.40M
YoY Change 35.91% 26.32%
LONG-TERM LIABILITIES
Long-Term Debt $522.4M $460.9M
YoY Change 13.34% 26.73%
Other Long-Term Liabilities $48.90M $43.40M
YoY Change 12.67% 15.73%
Total Long-Term Liabilities $571.3M $504.3M
YoY Change 13.29% 25.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $68.50M $50.40M
Total Long-Term Liabilities $571.3M $504.3M
Total Liabilities $639.8M $737.8M
YoY Change -13.28% 67.25%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $200.3M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $149.7M $72.20M
YoY Change
Total Liabilities & Shareholders Equity $992.9M $810.0M
YoY Change 22.58% 34.11%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $5.936M $17.37M
YoY Change -65.83% 113.97%
Depreciation, Depletion And Amortization $6.473M $5.468M
YoY Change 18.38% 30.19%
Cash From Operating Activities $8.274M $11.31M
YoY Change -26.83% -2927.0%
INVESTING ACTIVITIES
Capital Expenditures -$15.29M -$186.3M
YoY Change -91.79% 740.86%
Acquisitions $6.767M $165.2M
YoY Change -95.9%
Other Investing Activities $1.980M $75.14M
YoY Change -97.36% 443.7%
Cash From Investing Activities -$13.32M -$111.1M
YoY Change -88.01% 1233.77%
FINANCING ACTIVITIES
Cash Dividend Paid $9.726M $7.621M
YoY Change 27.62% 19.68%
Common Stock Issuance & Retirement, Net $3.523M $10.09M
YoY Change -65.08%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$6.463M $91.62M
YoY Change -107.05% 539.33%
NET CHANGE
Cash From Operating Activities $8.274M $11.31M
Cash From Investing Activities -$13.32M -$111.1M
Cash From Financing Activities -$6.463M $91.62M
Net Change In Cash -$11.51M -$8.179M
YoY Change 40.67% -246.05%
FREE CASH FLOW
Cash From Operating Activities $8.274M $11.31M
Capital Expenditures -$15.29M -$186.3M
Free Cash Flow $23.56M $197.6M
YoY Change -88.07% 808.31%

Facts In Submission

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ProceedsFromIssuanceOfCommonStock
3523000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
144684000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
44952000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
83748000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
4441000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
26533000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
8753000 USD
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
45000 USD
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
68000 USD
CY2016Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
139553000 USD
CY2017Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
145981000 USD
CY2016Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
908287000 USD
CY2017Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
925766000 USD
CY2016Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
768734000 USD
CY2017Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
779785000 USD
CY2016Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
36803000 USD
CY2017Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
63519000 USD
CY2016Q1 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
2349000 USD
CY2017Q1 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
2509000 USD
CY2016Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
0 USD
CY2017Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
2000000 USD
CY2017Q1 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
2000000 USD
CY2016Q4 us-gaap Rental Properties
RentalProperties
894078000 USD
CY2017Q1 us-gaap Rental Properties
RentalProperties
898526000 USD
CY2016Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
54821000 USD
CY2017Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
44530000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3251000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3649000 USD
CY2016Q1 us-gaap Revenues
Revenues
60086000 USD
CY2017Q1 us-gaap Revenues
Revenues
90751000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
437000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
411000 USD
CY2017Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3362000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
289000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
736000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
148143000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
149671000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
348978000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
351115000 USD
CY2016Q1 us-gaap Straight Line Rent
StraightLineRent
188000 USD
CY2017Q1 us-gaap Straight Line Rent
StraightLineRent
383000 USD
CY2016Q1 us-gaap Temporary Equity Stock Issued During Period Value New Issues
TemporaryEquityStockIssuedDuringPeriodValueNewIssues
0 USD
CY2017Q1 us-gaap Temporary Equity Stock Issued During Period Value New Issues
TemporaryEquityStockIssuedDuringPeriodValueNewIssues
2000000 USD
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30191000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37622000 shares
CY2017Q1 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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