$ALX
ALEXANDERS INC

2017 Q4 Form 10-Q Financial Statement

#000119312517323962 Filed on October 30, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $58.06M $58.09M $57.12M
YoY Change 1.41% 1.71% 8.98%
Cost Of Revenue $21.20M $22.40M $22.80M
YoY Change 3.41% -1.75% 14.0%
Gross Profit $36.90M $35.70M $34.30M
YoY Change 0.54% 4.08% 5.86%
Gross Profit Margin 63.55% 61.45% 60.05%
Selling, General & Admin $2.200M $100.0K $100.0K
YoY Change 0.0% 0.0% -80.0%
% of Gross Profit 5.96% 0.28% 0.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.70M $9.700M $8.700M
YoY Change 34.48% 11.49% 1.16%
% of Gross Profit 31.71% 27.17% 25.36%
Operating Expenses $12.50M $30.93M $30.98M
YoY Change 22.55% -0.17% 8.44%
Operating Profit $24.40M $27.16M $26.14M
YoY Change -7.92% 3.93% 9.63%
Interest Expense -$6.500M -$6.900M -$5.100M
YoY Change 35.42% 35.29% -10.53%
% of Operating Profit -26.64% -25.4% -19.51%
Other Income/Expense, Net
YoY Change
Pretax Income $17.90M $20.31M $21.04M
YoY Change -17.51% -3.51% 15.79%
Income Tax $0.00 $6.000K $7.000K
% Of Pretax Income 0.0% 0.03% 0.03%
Net Earnings $17.88M $20.30M $21.04M
YoY Change -17.42% -3.5% 15.76%
Net Earnings / Revenue 30.8% 34.94% 36.83%
Basic Earnings Per Share $3.50 $3.97 $4.11
Diluted Earnings Per Share $3.50 $3.97 $4.11
COMMON SHARES
Basic Shares Outstanding 5.107M shares 5.107M shares 5.106M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $342.7M $309.4M $307.4M
YoY Change 4.85% 0.65% 21.56%
Cash & Equivalents $307.5M $280.0M $264.1M
Short-Term Investments $35.16M $29.42M $43.29M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $2.700M $4.000M $2.900M
Other Receivables $174.7M $175.8M $179.8M
Total Short-Term Assets $484.9M $459.8M $446.8M
YoY Change 2.95% 2.91% 2.27%
LONG-TERM ASSETS
Property, Plant & Equipment $754.3M $762.6M $786.4M
YoY Change -3.39% -3.03% -2.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $233.7M $228.7M $43.30M
YoY Change 516.62% 428.18% 5.35%
Other Assets $131.5M $129.5M $134.5M
YoY Change -1.94% -3.72% -0.74%
Total Long-Term Assets $1.147B $1.162B $1.005B
YoY Change 17.06% 15.67% -1.47%
TOTAL ASSETS
Total Short-Term Assets $484.9M $459.8M $446.8M
Total Long-Term Assets $1.147B $1.162B $1.005B
Total Assets $1.632B $1.622B $1.452B
YoY Change 12.48% 11.74% -0.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.80M $36.50M $38.20M
YoY Change 1.42% -4.45% -9.48%
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 $45.30M $37.00M $39.10M
YoY Change 5.1% -5.37% -18.88%
LONG-TERM LIABILITIES
Long-Term Debt $1.240B $1.240B $1.053B
YoY Change 17.84% 17.81% -0.74%
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 $1.055B
YoY Change 17.8% 17.76% -0.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.30M $37.00M $39.10M
Total Long-Term Liabilities $1.243B $1.243B $1.055B
Total Liabilities $1.288B $1.280B $1.095B
YoY Change 17.3% 16.93% -1.53%
SHAREHOLDERS EQUITY
Retained Earnings $302.5M $306.4M $307.8M
YoY Change -2.09% -0.45% 3.06%
Common Stock $5.173M $5.173M $5.173M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $368.0K $368.0K $374.0K
YoY Change -1.6% -1.6% 0.0%
Treasury Stock Shares 66.16K shares 66.16K shares 67.25K shares
Shareholders Equity $344.0M $342.1M $357.0M
YoY Change
Total Liabilities & Shareholders Equity $1.632B $1.622B $1.452B
YoY Change 12.48% 11.74% -0.35%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $17.88M $20.30M $21.04M
YoY Change -17.42% -3.5% 15.76%
Depreciation, Depletion And Amortization $11.70M $9.700M $8.700M
YoY Change 34.48% 11.49% 1.16%
Cash From Operating Activities $51.20M $36.40M $49.20M
YoY Change 4.7% -26.02% 4.02%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K -$1.000M -$2.300M
YoY Change -90.48% -56.52% -81.6%
Acquisitions
YoY Change
Other Investing Activities $800.0K -$199.3M $0.00
YoY Change -100.0%
Cash From Investing Activities $400.0K -$200.2M -$2.300M
YoY Change -119.05% 8604.35% -82.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -23.00M -22.60M -21.30M
YoY Change 7.48% 6.1% -391.78%
NET CHANGE
Cash From Operating Activities 51.20M 36.40M 49.20M
Cash From Investing Activities 400.0K -200.2M -2.300M
Cash From Financing Activities -23.00M -22.60M -21.30M
Net Change In Cash 28.60M -186.4M 25.60M
YoY Change 12.6% -828.12% -38.61%
FREE CASH FLOW
Cash From Operating Activities $51.20M $36.40M $49.20M
Capital Expenditures -$200.0K -$1.000M -$2.300M
Free Cash Flow $51.40M $37.40M $51.50M
YoY Change 0.78% -27.38% -13.88%

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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 <font style="WHITE-SPACE: nowrap">10-Q</font> 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 <font style="WHITE-SPACE: nowrap">10-K</font> 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 nine months ended September&#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="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>1.</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>Organization</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">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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dei Trading Symbol
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments To Acquire Loans Held For Investment
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37598000
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58094000
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CY2017Q3 us-gaap Tenant Reimbursements
TenantReimbursements
20124000
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5115982 shares

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