2016 Q3 Form 10-Q Financial Statement
#000000349916000047 Filed on August 01, 2016
Income Statement
| Concept | 2016 Q3 | 2015 Q2 |
|---|---|---|
| Revenue | $57.12M | $50.65M |
| YoY Change | 8.98% | 1.33% |
| Cost Of Revenue | $22.80M | $18.10M |
| YoY Change | 14.0% | 2.26% |
| Gross Profit | $34.30M | $32.50M |
| YoY Change | 5.86% | 0.93% |
| Gross Profit Margin | 60.05% | 64.17% |
| Selling, General & Admin | $100.0K | $1.300M |
| YoY Change | -80.0% | 30.0% |
| % of Gross Profit | 0.29% | 4.0% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $8.700M | $8.100M |
| YoY Change | 1.16% | 1.25% |
| % of Gross Profit | 25.36% | 24.92% |
| Operating Expenses | $30.98M | $26.79M |
| YoY Change | 8.44% | 3.09% |
| Operating Profit | $26.14M | $23.86M |
| YoY Change | 9.63% | -0.58% |
| Interest Expense | -$5.100M | -$6.500M |
| YoY Change | -10.53% | -9.72% |
| % of Operating Profit | -19.51% | -27.25% |
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | $21.04M | $17.34M |
| YoY Change | 15.79% | 3.04% |
| Income Tax | $7.000K | $1.000K |
| % Of Pretax Income | 0.03% | 0.01% |
| Net Earnings | $21.04M | $17.34M |
| YoY Change | 15.76% | 3.05% |
| Net Earnings / Revenue | 36.83% | 34.24% |
| Basic Earnings Per Share | $4.11 | $3.39 |
| Diluted Earnings Per Share | $4.11 | $3.39 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 5.106M shares | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2016 Q3 | 2015 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $307.4M | $211.2M |
| YoY Change | 21.56% | -31.41% |
| Cash & Equivalents | $264.1M | $211.2M |
| Short-Term Investments | $43.29M | |
| Other Short-Term Assets | ||
| YoY Change | ||
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $2.900M | $3.200M |
| Other Receivables | $179.8M | $180.9M |
| Total Short-Term Assets | $446.8M | $395.3M |
| YoY Change | 2.27% | -19.15% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $786.4M | $802.9M |
| YoY Change | -2.44% | 8.06% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $43.30M | $39.90M |
| YoY Change | 5.35% | 11.76% |
| Other Assets | $134.5M | $132.7M |
| YoY Change | -0.74% | -5.08% |
| Total Long-Term Assets | $1.005B | $1.023B |
| YoY Change | -1.47% | 6.41% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $446.8M | $395.3M |
| Total Long-Term Assets | $1.005B | $1.023B |
| Total Assets | $1.452B | $1.418B |
| YoY Change | -0.35% | -2.21% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $38.20M | $34.60M |
| YoY Change | -9.48% | 5.49% |
| 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 | $39.10M | $40.10M |
| YoY Change | -18.88% | -46.75% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $1.053B | $1.031B |
| YoY Change | -0.74% | -0.3% |
| Other Long-Term Liabilities | $2.900M | $3.000M |
| YoY Change | -3.33% | -11.76% |
| Total Long-Term Liabilities | $1.055B | $1.034B |
| YoY Change | -0.74% | -0.34% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $39.10M | $40.10M |
| Total Long-Term Liabilities | $1.055B | $1.034B |
| Total Liabilities | $1.095B | $1.074B |
| YoY Change | -1.53% | -3.48% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $307.8M | |
| YoY Change | 3.06% | |
| Common Stock | $5.173M | |
| YoY Change | 0.0% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | $374.0K | |
| YoY Change | 0.0% | |
| Treasury Stock Shares | 67.25K shares | |
| Shareholders Equity | $357.0M | $343.7M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $1.452B | $1.418B |
| YoY Change | -0.35% | -2.21% |
Cashflow Statement
| Concept | 2016 Q3 | 2015 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $21.04M | $17.34M |
| YoY Change | 15.76% | 3.05% |
| Depreciation, Depletion And Amortization | $8.700M | $8.100M |
| YoY Change | 1.16% | 1.25% |
| Cash From Operating Activities | $49.20M | -$20.10M |
| YoY Change | 4.02% | 11.67% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$2.300M | -$14.50M |
| YoY Change | -81.6% | 20.83% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | $25.10M |
| YoY Change | -100.0% | |
| Cash From Investing Activities | -$2.300M | $10.70M |
| YoY Change | -82.17% | -189.17% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -21.30M | -18.70M |
| YoY Change | -391.78% | 8.09% |
| NET CHANGE | ||
| Cash From Operating Activities | 49.20M | -20.10M |
| Cash From Investing Activities | -2.300M | 10.70M |
| Cash From Financing Activities | -21.30M | -18.70M |
| Net Change In Cash | 25.60M | -28.10M |
| YoY Change | -38.61% | -40.59% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $49.20M | -$20.10M |
| Capital Expenditures | -$2.300M | -$14.50M |
| Free Cash Flow | $51.50M | -$5.600M |
| YoY Change | -13.88% | -6.67% |
Facts In Submission
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2016-06-30 | ||
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<p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">1</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">.</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">       Organization</font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:20.15px;">Alexander's, Inc. (NYSE: ALX) is a real estate investment trust (“REIT”), incorporated in </font><font style="font-family:Times New Roman;font-size:10pt;">Delaware</font><font style="font-family:Times New Roman;font-size:10pt;">, engaged in leasing, managing, developing and redeveloping its properties. All references to “we,” “us,” “our,” “Company” and “Alexander's” refer to Alexander's, Inc. and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (“Vornado”) (NYSE: VNO).</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p> | ||
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Basis Of Accounting
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<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">2</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">.</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">       </font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Basis of Presentation</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;"> </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:20.15px;">The accompanying consolidated financial statements are unaudited and include </font><font style="font-family:Times New Roman;font-size:10pt;">the</font><font style="font-family:Times New Roman;font-size:10pt;"> accounts </font><font style="font-family:Times New Roman;font-size:10pt;">of Alexander's </font><font style="font-family:Times New Roman;font-size:10pt;">and </font><font style="font-family:Times New Roman;font-size:10pt;">its</font><font style="font-family:Times New Roman;font-size:10pt;"> consolidated subsidiaries. All intercompany amounts have been eliminated. In our opinion, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and changes in cash flows have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. </font><font style="font-family:Times New Roman;font-size:10pt;">These condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the Securities and Exchange Commission (the “SEC”) and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended </font><font style="font-family:Times New Roman;font-size:10pt;">December 31,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">2015</font><font style="font-family:Times New Roman;font-size:10pt;">, as filed with the SEC. </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:20.15px;">We have made estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">The results of operations for the </font><font style="font-family:Times New Roman;font-size:10pt;">three and six months</font><font style="font-family:Times New Roman;font-size:10pt;"> ended </font><font style="font-family:Times New Roman;font-size:10pt;">June 30,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">2016</font><font style="font-family:Times New Roman;font-size:10pt;"> are not necessarily indicative of the oper</font><font style="font-family:Times New Roman;font-size:10pt;">ating results for the full year</font><font style="font-family:Times New Roman;font-size:10pt;">. </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:20.15px;">We currently operate in one business segment.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p> | ||
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