$ALX
ALEXANDERS INC

2017 Q3 Form 10-Q Financial Statement

#000119312517241486 Filed on July 31, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q2
Revenue $58.09M $57.19M $57.01M
YoY Change 1.71% 0.32% 12.56%
Cost Of Revenue $22.40M $21.30M $19.90M
YoY Change -1.75% 7.04% 9.94%
Gross Profit $35.70M $35.90M $37.10M
YoY Change 4.08% -3.23% 14.15%
Gross Profit Margin 61.45% 62.77% 65.08%
Selling, General & Admin $100.0K $1.100M $1.200M
YoY Change 0.0% -8.33% -7.69%
% of Gross Profit 0.28% 3.06% 3.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.700M $8.700M $10.00M
YoY Change 11.49% -13.0% 23.46%
% of Gross Profit 27.17% 24.23% 26.95%
Operating Expenses $30.93M $30.58M $30.53M
YoY Change -0.17% 0.17% 13.95%
Operating Profit $27.16M $26.61M $26.48M
YoY Change 3.93% 0.5% 11.0%
Interest Expense -$6.900M -$6.000M -$4.700M
YoY Change 35.29% 27.66% -27.69%
% of Operating Profit -25.4% -22.55% -17.75%
Other Income/Expense, Net
YoY Change
Pretax Income $20.31M $20.65M $21.80M
YoY Change -3.51% -5.25% 25.7%
Income Tax $6.000K -$6.000K $32.00K
% Of Pretax Income 0.03% -0.03% 0.15%
Net Earnings $20.30M $20.66M $21.77M
YoY Change -3.5% -5.09% 25.52%
Net Earnings / Revenue 34.94% 36.13% 38.18%
Basic Earnings Per Share $3.97 $4.04 $4.26
Diluted Earnings Per Share $3.97 $4.04 $4.26
COMMON SHARES
Basic Shares Outstanding 5.107M shares 5.107M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $309.4M $497.5M $235.8M
YoY Change 0.65% 111.0% 11.65%
Cash & Equivalents $280.0M $466.5M $235.8M
Short-Term Investments $29.42M $31.08M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $4.000M $2.800M $2.500M
Other Receivables $175.8M $176.8M $180.5M
Total Short-Term Assets $459.8M $646.1M $418.8M
YoY Change 2.91% 54.27% 5.94%
LONG-TERM ASSETS
Property, Plant & Equipment $762.6M $768.9M $791.3M
YoY Change -3.03% -2.83% -1.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $228.7M $31.10M $45.70M
YoY Change 428.18% -31.95% 14.54%
Other Assets $129.5M $130.7M $138.4M
YoY Change -3.72% -5.56% 4.3%
Total Long-Term Assets $1.162B $984.2M $1.027B
YoY Change 15.67% -4.17% 0.43%
TOTAL ASSETS
Total Short-Term Assets $459.8M $646.1M $418.8M
Total Long-Term Assets $1.162B $984.2M $1.027B
Total Assets $1.622B $1.630B $1.446B
YoY Change 11.74% 12.76% 1.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $36.50M $41.90M $30.10M
YoY Change -4.45% 39.2% -13.01%
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 $37.00M $42.50M $31.30M
YoY Change -5.37% 35.78% -21.95%
LONG-TERM LIABILITIES
Long-Term Debt $1.240B $1.240B $1.053B
YoY Change 17.81% 17.75% 2.09%
Other Long-Term Liabilities $2.900M $2.900M $2.900M
YoY Change 0.0% 0.0% -3.33%
Total Long-Term Liabilities $1.243B $1.243B $1.056B
YoY Change 17.76% 17.7% 2.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.00M $42.50M $31.30M
Total Long-Term Liabilities $1.243B $1.243B $1.056B
Total Liabilities $1.280B $1.285B $1.087B
YoY Change 16.93% 18.21% 1.19%
SHAREHOLDERS EQUITY
Retained Earnings $306.4M $307.8M
YoY Change -0.45%
Common Stock $5.173M $5.173M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $368.0K $368.0K
YoY Change -1.6%
Treasury Stock Shares 66.16K shares 66.16K shares
Shareholders Equity $342.1M $345.2M $358.8M
YoY Change
Total Liabilities & Shareholders Equity $1.622B $1.630B $1.446B
YoY Change 11.74% 12.76% 1.97%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $20.30M $20.66M $21.77M
YoY Change -3.5% -5.09% 25.52%
Depreciation, Depletion And Amortization $9.700M $8.700M $10.00M
YoY Change 11.49% -13.0% 23.46%
Cash From Operating Activities $36.40M -$5.800M -$12.70M
YoY Change -26.02% -54.33% -36.82%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M -$600.0K -$2.200M
YoY Change -56.52% -72.73% -84.83%
Acquisitions
YoY Change
Other Investing Activities -$199.3M
YoY Change
Cash From Investing Activities -$200.2M -$600.0K -$3.900M
YoY Change 8604.35% -84.62% -136.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -22.60M 165.3M -21.30M
YoY Change 6.1% -876.06% 13.9%
NET CHANGE
Cash From Operating Activities 36.40M -5.800M -12.70M
Cash From Investing Activities -200.2M -600.0K -3.900M
Cash From Financing Activities -22.60M 165.3M -21.30M
Net Change In Cash -186.4M 158.9M -37.90M
YoY Change -828.12% -519.26% 34.88%
FREE CASH FLOW
Cash From Operating Activities $36.40M -$5.800M -$12.70M
Capital Expenditures -$1.000M -$600.0K -$2.200M
Free Cash Flow $37.40M -$5.200M -$10.50M
YoY Change -27.38% -50.48% 87.5%

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<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td valign="top" width="6%" align="left"><b>2.</b></td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="justify"><b>Basis of Presentation</b></p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%" align="justify">The accompanying consolidated financial statements are unaudited and include the accounts of Alexander&#x2019;s and its 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&#xA0;States of America (&#x201C;GAAP&#x201D;) have been condensed or omitted. These condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the Securities and Exchange Commission (the &#x201C;SEC&#x201D;) 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 December&#xA0;31, 2016, as filed with the SEC.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%" align="justify">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. The results of operations for the three and six months ended June&#xA0;30, 2017 are not necessarily indicative of the operating results for the full year.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%" align="justify">We operate in one reportable segment.</p> </div>
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<div> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="6%" valign="top" align="left"><b>1.</b></td> <td align="left" valign="top"> <p align="justify" style="margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"> <b>Organization</b></p> </td> </tr> </table> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" align="justify">Alexander&#x2019;s, Inc. (NYSE: ALX) is a real estate investment trust (&#x201C;REIT&#x201D;), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to &#x201C;we,&#x201D; &#x201C;us,&#x201D; &#x201C;our,&#x201D; &#x201C;Company&#x201D; and &#x201C;Alexander&#x2019;s&#x201D; refer to Alexander&#x2019;s, Inc. and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (&#x201C;Vornado&#x201D;) (NYSE: VNO). We have seven properties in the greater New York City metropolitan area.</p> </div>
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18926000
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WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5115320 shares

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