2018 Q4 Form 10-Q Financial Statement

#000156918718000030 Filed on October 31, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $43.44M $48.88M $68.30M
YoY Change -27.96% -28.43% 6.95%
Cost Of Revenue $22.32M $28.92M $48.90M
YoY Change -45.68% -40.86% 7.57%
Gross Profit $21.11M $19.96M $19.40M
YoY Change 9.91% 2.92% 5.46%
Gross Profit Margin 48.6% 40.84% 28.4%
Selling, General & Admin $3.340M $2.370M $2.100M
YoY Change 25.09% 12.86% -2.78%
% of Gross Profit 15.82% 11.87% 10.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.27M $10.19M $9.240M
YoY Change 21.18% 10.28% 4.05%
% of Gross Profit 53.38% 51.04% 47.64%
Operating Expenses $14.61M $41.55M $60.32M
YoY Change 22.06% -31.11% 5.82%
Operating Profit $6.504M $7.329M $7.980M
YoY Change -10.18% -8.16% 16.36%
Interest Expense -$3.800M $4.677M $4.253M
YoY Change 211.48% 9.97% 3.13%
% of Operating Profit -58.43% 63.81% 53.3%
Other Income/Expense, Net $160.0K $65.00K $74.00K
YoY Change -900.0% -12.16% 111.43%
Pretax Income $5.420M $5.549M $10.49M
YoY Change -5.08% -47.1% 31.75%
Income Tax $520.0K -$120.0K $29.00K
% Of Pretax Income 9.59% -2.16% 0.28%
Net Earnings $4.895M $4.202M $7.488M
YoY Change -15.14% -43.88% 43.67%
Net Earnings / Revenue 11.27% 8.6% 10.96%
Basic Earnings Per Share
Diluted Earnings Per Share $30.66K $85.38K $166.7K
COMMON SHARES
Basic Shares Outstanding 49.63M shares 48.89M shares 44.93M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.30M $17.70M $19.70M
YoY Change 6.5% -10.15% -17.57%
Cash & Equivalents $21.25M $17.73M $19.72M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $900.0K
Prepaid Expenses
Receivables $19.00M $18.20M $15.80M
Other Receivables $16.20M $22.00M $35.90M
Total Short-Term Assets $57.40M $57.90M $71.40M
YoY Change -3.69% -18.91% -9.62%
LONG-TERM ASSETS
Property, Plant & Equipment $987.8M $980.3M $811.9M
YoY Change 19.03% 20.74% 11.72%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $22.20M $16.81M $11.17M
YoY Change 94.58% 50.51% 7.81%
Other Assets $2.800M $2.900M $3.200M
YoY Change -6.67% -9.38% -8.57%
Total Long-Term Assets $1.208B $1.160B $959.6M
YoY Change 22.82% 20.88% 12.52%
TOTAL ASSETS
Total Short-Term Assets $57.40M $57.90M $71.40M
Total Long-Term Assets $1.208B $1.160B $959.6M
Total Assets $1.265B $1.218B $1.031B
YoY Change 21.31% 18.12% 10.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.20M $15.80M $14.40M
YoY Change 0.0% 9.72% 35.85%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $14.90M $12.00M
YoY Change
Total Short-Term Liabilities $80.90M $73.30M $62.60M
YoY Change 29.23% 17.09% 1.29%
LONG-TERM LIABILITIES
Long-Term Debt $679.3M $641.8M $488.6M
YoY Change 31.32% 31.35% -4.94%
Other Long-Term Liabilities $49.20M $42.70M $46.40M
YoY Change 14.69% -7.97% 0.65%
Total Long-Term Liabilities $728.5M $684.5M $535.0M
YoY Change 30.04% 27.94% -4.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $80.90M $73.30M $62.60M
Total Long-Term Liabilities $728.5M $684.5M $535.0M
Total Liabilities $809.5M $757.7M $597.6M
YoY Change 29.97% 26.8% -3.91%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $357.9M $351.3M $288.9M
YoY Change 24.32% 21.6% 87.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $273.9M $274.9M $232.2M
YoY Change
Total Liabilities & Shareholders Equity $1.265B $1.218B $1.031B
YoY Change 21.31% 18.12% 10.64%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $4.895M $4.202M $7.488M
YoY Change -15.14% -43.88% 43.67%
Depreciation, Depletion And Amortization $11.27M $10.19M $9.240M
YoY Change 21.18% 10.28% 4.05%
Cash From Operating Activities $28.89M $15.94M $14.70M
YoY Change 47.62% 8.44% -25.87%
INVESTING ACTIVITIES
Capital Expenditures -$35.05M -$71.70M -$38.76M
YoY Change 51.4% 84.98% 27.42%
Acquisitions
YoY Change
Other Investing Activities -$21.96M -$8.740M $8.410M
YoY Change 178.33% -203.92% -206.73%
Cash From Investing Activities -$57.00M -$80.44M -$30.35M
YoY Change 83.63% 165.04% -20.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 31.52M 69.73M 16.85M
YoY Change 175.04% 313.83% -24.64%
NET CHANGE
Cash From Operating Activities 28.89M 15.94M 14.70M
Cash From Investing Activities -57.00M -80.44M -30.35M
Cash From Financing Activities 31.52M 69.73M 16.85M
Net Change In Cash 3.410M 5.230M 1.200M
YoY Change -34200.0% 335.83% -69.23%
FREE CASH FLOW
Cash From Operating Activities $28.89M $15.94M $14.70M
Capital Expenditures -$35.05M -$71.70M -$38.76M
Free Cash Flow $63.94M $87.64M $53.46M
YoY Change 49.67% 63.94% 6.39%

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us-gaap Payments For Tenant Improvements
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229000 USD
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5400000 USD
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us-gaap Proceeds From Issuance Of Debt
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us-gaap Proceeds From Issuance Of Debt
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4271000 USD
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CY2017Q3 us-gaap Revenues
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us-gaap Revenues
Revenues
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Revenues
48880000 USD
us-gaap Revenues
Revenues
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CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Straight Line Rent
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us-gaap Straight Line Rent
StraightLineRent
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2000000 USD
us-gaap Temporary Equity Stock Issued During Period Value New Issues
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0 USD
us-gaap Unrealized Gain Loss On Derivatives
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us-gaap Unrealized Gain Loss On Derivatives
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CY2018Q3 us-gaap Unrealized Gain Loss On Interest Rate Cash Flow Hedges Pretax Accumulated Other Comprehensive Income Loss
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CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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CY2018Q3 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
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us-gaap Use Of Estimates
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<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 significantly from management&#8217;s estimates.</font></div></div>

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