2013 Q2 Form 10-Q Financial Statement

#000144530513001920 Filed on August 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $18.20M $13.90M
YoY Change 30.94% 2.96%
Cost Of Revenue $1.000M $1.900M
YoY Change -47.37% -50.0%
Gross Profit $17.20M $12.00M
YoY Change 43.33% 23.71%
Gross Profit Margin 94.51% 86.33%
Selling, General & Admin $4.000M $4.100M
YoY Change -2.44% 64.0%
% of Gross Profit 23.26% 34.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $4.037M $4.054M
YoY Change -0.42% 61.32%
Operating Profit $13.16M $7.946M
YoY Change 65.66% 10.56%
Interest Expense $955.0K $1.929M
YoY Change -50.49% -48.98%
% of Operating Profit 7.26% 24.28%
Other Income/Expense, Net
YoY Change
Pretax Income $11.80M $9.900M
YoY Change 19.19% 52.31%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $11.79M $9.910M
YoY Change 18.96% 51.99%
Net Earnings / Revenue 64.77% 71.29%
Basic Earnings Per Share
Diluted Earnings Per Share $315.5K $471.4K
COMMON SHARES
Basic Shares Outstanding 36.88M shares 20.57M shares
Diluted Shares Outstanding 37.37M shares 20.99M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $156.8M $12.00M
YoY Change 1206.67% -51.02%
Cash & Equivalents $156.8M $11.96M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $161.6M $23.20M
YoY Change 596.55% -27.27%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $592.0M $575.9M
YoY Change 2.8% -23.43%
Other Assets $1.000M $1.200M
YoY Change -16.67% -42.86%
Total Long-Term Assets $736.5M $680.3M
YoY Change 8.26% -21.23%
TOTAL ASSETS
Total Short-Term Assets $161.6M $23.20M
Total Long-Term Assets $736.5M $680.3M
Total Assets $898.1M $703.5M
YoY Change 27.66% -21.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.400M $1.100M
YoY Change 27.27% -42.11%
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 $20.80M $11.20M
YoY Change 85.71% 9.8%
LONG-TERM LIABILITIES
Long-Term Debt $191.3M $350.7M
YoY Change -45.45% -39.75%
Other Long-Term Liabilities $0.00 $300.0K
YoY Change -100.0% -97.2%
Total Long-Term Liabilities $191.3M $351.0M
YoY Change -45.5% -40.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.80M $11.20M
Total Long-Term Liabilities $191.3M $351.0M
Total Liabilities $212.1M $362.2M
YoY Change -41.43% -39.93%
SHAREHOLDERS EQUITY
Retained Earnings -$9.320M
YoY Change
Common Stock $695.9M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $686.0M $341.3M
YoY Change
Total Liabilities & Shareholders Equity $898.1M $703.5M
YoY Change 27.66% -21.44%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $11.79M $9.910M
YoY Change 18.96% 51.99%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $11.30M $3.600M
YoY Change 213.89% -64.71%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$42.50M -$9.800M
YoY Change 333.67% -53.33%
Cash From Investing Activities -$42.50M -$9.800M
YoY Change 333.67% -53.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -37.70M -13.30M
YoY Change 183.46% 3.91%
NET CHANGE
Cash From Operating Activities 11.30M 3.600M
Cash From Investing Activities -42.50M -9.800M
Cash From Financing Activities -37.70M -13.30M
Net Change In Cash -68.90M -19.50M
YoY Change 253.33% -17.37%
FREE CASH FLOW
Cash From Operating Activities $11.30M $3.600M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2012Q2 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
168000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
25965000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
16766000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
3720000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
505000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
751000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
281000 USD
us-gaap Payments To Purchase Mortgage Loans Held For Sale
PaymentsToPurchaseMortgageLoansHeldForSale
17883000 USD
CY2013Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1860000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
776000 USD
CY2012Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
USD
CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2012Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
3450000 shares
CY2013Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
3450000 shares
CY2012Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
3450000 shares
CY2013Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
3450000 shares
CY2013Q2 us-gaap Preferred Stock Value
PreferredStockValue
35000 USD
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
35000 USD
us-gaap Proceeds From Collection Of Mortgage Loans Held For Sale
ProceedsFromCollectionOfMortgageLoansHeldForSale
18000 USD
us-gaap Proceeds From Collection Of Mortgage Loans Held For Sale
ProceedsFromCollectionOfMortgageLoansHeldForSale
68779000 USD
us-gaap Proceeds From Collection Of Other Loans Held For Sale
ProceedsFromCollectionOfOtherLoansHeldForSale
6598000 USD
us-gaap Proceeds From Collection Of Other Loans Held For Sale
ProceedsFromCollectionOfOtherLoansHeldForSale
5744000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
148804000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
121338000 USD
us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
USD
us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
280000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
251327000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
USD
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-9320000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
574000 USD
CY2013Q2 us-gaap Secured Debt Repurchase Agreements
SecuredDebtRepurchaseAgreements
191312000 USD
CY2012Q4 us-gaap Secured Debt Repurchase Agreements
SecuredDebtRepurchaseAgreements
225158000 USD
CY2012Q4 us-gaap Securities Held As Collateral At Fair Value
SecuritiesHeldAsCollateralAtFairValue
211809000 USD
CY2013Q2 us-gaap Securities Held As Collateral At Fair Value
SecuritiesHeldAsCollateralAtFairValue
184208000 USD
CY2013Q2 us-gaap Securities Loaned Or Sold Under Agreements To Repurchase Fair Value Disclosure
SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure
191312000 USD
CY2012Q4 us-gaap Securities Loaned Or Sold Under Agreements To Repurchase Fair Value Disclosure
SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure
225158000 USD
CY2013Q2 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
191312000 USD
CY2012Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
225158000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1969000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1311000 USD
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
148804000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
546924000 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
685994000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
188000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
130000 USD
CY2012Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
192000 USD
CY2013Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
57000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
3463000 USD
CY2013Q2 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-1421000 USD
CY2012Q2 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
2078000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-2500000 USD
CY2012Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20991450 shares
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
37373885 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33946329 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20978938 shares
ari Aggregate Balance Of Companys Investment In Repurchase Facility
AggregateBalanceOfCompanysInvestmentInRepurchaseFacility
47439000 USD
ari Capital Increase Related To Equity Based Compensation
CapitalIncreaseRelatedToEquityBasedCompensation
-1311000 USD
CY2013Q2 ari Common Stock Offering Maximum Authorized Amount
CommonStockOfferingMaximumAuthorizedAmount
100000000 USD
CY2012 ari Coupon
Coupon
0.056
ari Coupon
Coupon
0.056
ari Deferred Financing Costs Not Yet Paid
DeferredFinancingCostsNotYetPaid
USD
ari Deferred Financing Costs Not Yet Paid
DeferredFinancingCostsNotYetPaid
250000 USD
CY2013Q2 ari Distributable Earnings
DistributableEarnings
0.40
ari Distributable Earnings
DistributableEarnings
0.80
ari Distributable Earnings
DistributableEarnings
0.88
CY2012Q2 ari Distributable Earnings
DistributableEarnings
0.40
ari Interest Rate For Principal Repayments That Occur Prior To Twenty First Month Are Subject To Make Whole Provision
InterestRateForPrincipalRepaymentsThatOccurPriorToTwentyFirstMonthAreSubjectToMakeWholeProvision
0.13
ari Investment Repurchase Agreement Amount
InvestmentRepurchaseAgreementAmount
47439000 USD
ari Investment Repurchase Agreement Description Of Investment Subject To Agreement
InvestmentRepurchaseAgreementDescriptionOfInvestmentSubjectToAgreement
P18M
CY2013Q2 ari Loans Held For Investment Current Face Amount
LoansHeldForInvestmentCurrentFaceAmount
145737000 USD
CY2012Q4 ari Loans Held For Investment Current Face Amount
LoansHeldForInvestmentCurrentFaceAmount
146550000 USD
CY2012Q4 ari Loans Held For Sale Mortgages Fair Value Disclosure
LoansHeldForSaleMortgagesFairValueDisclosure
150144000 USD
CY2013Q2 ari Loans Held For Sale Mortgages Fair Value Disclosure
LoansHeldForSaleMortgagesFairValueDisclosure
149281000 USD
CY2013Q2 ari Loans Held For Sale Other Fair Value Disclosure
LoansHeldForSaleOtherFairValueDisclosure
USD
CY2012Q4 ari Loans Held For Sale Other Fair Value Disclosure
LoansHeldForSaleOtherFairValueDisclosure
6598000 USD
CY2013Q2 ari Management Fees To Related Parties
ManagementFeesToRelatedParties
2600000 USD
ari Management Fees To Related Parties
ManagementFeesToRelatedParties
4759000 USD
ari Management Fees To Related Parties
ManagementFeesToRelatedParties
2581000 USD
CY2012Q2 ari Management Fees To Related Parties
ManagementFeesToRelatedParties
1292000 USD
ari Number Of Debt Position In Cdo Bond
NumberOfDebtPositionInCdoBond
58 debt_positions_and_securities
CY2012 ari Numberof Optionsto Extend Repurchase Agreement
NumberofOptionstoExtendRepurchaseAgreement
3 option
CY2012 ari Optionto Extend Repurchase Agreement Term
OptiontoExtendRepurchaseAgreementTerm
P6M
CY2013Q2 ari Payable For Offering Costs
PayableForOfferingCosts
47000 USD
CY2012Q2 ari Payable For Offering Costs
PayableForOfferingCosts
USD
ari Payments To Acquire Securities Held As Collateral At Fair Value
PaymentsToAcquireSecuritiesHeldAsCollateralAtFairValue
70676000 USD
ari Payments To Acquire Securities Held As Collateral At Fair Value
PaymentsToAcquireSecuritiesHeldAsCollateralAtFairValue
USD
ari Payments To Purchase Loans Held For Sale Commercial Real Estate
PaymentsToPurchaseLoansHeldForSaleCommercialRealEstate
174190000 USD
ari Payments To Purchase Loans Held For Sale Commercial Real Estate
PaymentsToPurchaseLoansHeldForSaleCommercialRealEstate
29833000 USD
ari Percentage Of Face Amount Of Cdo Bond
PercentageOfFaceAmountOfCdoBond
0.69
CY2013Q1 ari Percentage Of Internal Rate Of Return
PercentageOfInternalRateOfReturn
0.17
CY2012 ari Percentage Vintage
PercentageVintage
1
ari Percentage Vintage
PercentageVintage
1
ari Principal Payments Received On Securities At Estimated Fair Value
PrincipalPaymentsReceivedOnSecuritiesAtEstimatedFairValue
78203000 USD
ari Principal Payments Received On Securities At Estimated Fair Value
PrincipalPaymentsReceivedOnSecuritiesAtEstimatedFairValue
25415000 USD
ari Principal Payments Received On Securities Available For Sale
PrincipalPaymentsReceivedOnSecuritiesAvailableForSale
13267000 USD
ari Principal Payments Received On Securities Available For Sale
PrincipalPaymentsReceivedOnSecuritiesAvailableForSale
55905000 USD
ari Proceeds From Collection Of Commercial Real Estate Loans Held For Sale
ProceedsFromCollectionOfCommercialRealEstateLoansHeldForSale
813000 USD
ari Proceeds From Collection Of Commercial Real Estate Loans Held For Sale
ProceedsFromCollectionOfCommercialRealEstateLoansHeldForSale
24363000 USD
ari Proceeds From Sale Of Securities Held As Collateral At Fair Value
ProceedsFromSaleOfSecuritiesHeldAsCollateralAtFairValue
16918000 USD
ari Proceeds From Sale Of Securities Held As Collateral At Fair Value
ProceedsFromSaleOfSecuritiesHeldAsCollateralAtFairValue
USD
ari Proceeds From Securities Sold Under Agreements To Repurchase
ProceedsFromSecuritiesSoldUnderAgreementsToRepurchase
313860000 USD
ari Repayments Of Repurchase Agreement Borrowings
RepaymentsOfRepurchaseAgreementBorrowings
33846000 USD
ari Repayments Of Repurchase Agreement Borrowings
RepaymentsOfRepurchaseAgreementBorrowings
253864000 USD
CY2012 ari Repurchase Agreements Maturity
RepurchaseAgreementsMaturity
P1Y1M6D
ari Repurchase Agreements Maturity
RepurchaseAgreementsMaturity
P1Y1M6D
ari Repurchase Facility Accrual Interest Rate
RepurchaseFacilityAccrualInterestRate
0.03
ari Repurchase Facility Current Pay Interest Rate
RepurchaseFacilityCurrentPayInterestRate
0.1
ari Repurchase Facility Interest Rate
RepurchaseFacilityInterestRate
0.13
CY2013Q2 ari Securities Pledged As Collateral
SecuritiesPledgedAsCollateral
68726000 USD
CY2013Q2 ari Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Expected To Vest
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpectedToVest
341430 shares
CY2009Q3 ari Share Based Compensation Arrangement Number Of Shares Authorized As Percentage Of Common Stock Outstanding
ShareBasedCompensationArrangementNumberOfSharesAuthorizedAsPercentageOfCommonStockOutstanding
0.075
CY2013Q2 ari Subordinate Loans Held For Investment Carrying Amount
SubordinateLoansHeldForInvestmentCarryingAmount
354865000 USD
CY2012Q4 ari Subordinate Loans Held For Investment Carrying Amount
SubordinateLoansHeldForInvestmentCarryingAmount
246246000 USD
ari Subordinate Loans Held For Investment Coupon Rate
SubordinateLoansHeldForInvestmentCouponRate
0.1223
CY2012 ari Subordinate Loans Held For Investment Coupon Rate
SubordinateLoansHeldForInvestmentCouponRate
0.1246
CY2013Q2 ari Subordinate Loans Held For Investment Original Face Amount
SubordinateLoansHeldForInvestmentOriginalFaceAmount
355974000 USD
CY2012Q4 ari Subordinate Loans Held For Investment Original Face Amount
SubordinateLoansHeldForInvestmentOriginalFaceAmount
245875000 USD
CY2013Q2 ari Subordinate Loans Held For Investments Current Face Amount
SubordinateLoansHeldForInvestmentsCurrentFaceAmount
356402000 USD
CY2012Q4 ari Subordinate Loans Held For Investments Current Face Amount
SubordinateLoansHeldForInvestmentsCurrentFaceAmount
246959000 USD
ari Undistributed Earnings Basic And Diluted
UndistributedEarningsBasicAndDiluted
-0.29
CY2013Q2 ari Undistributed Earnings Basic And Diluted
UndistributedEarningsBasicAndDiluted
-0.13
CY2012Q2 ari Undistributed Earnings Basic And Diluted
UndistributedEarningsBasicAndDiluted
0.07
ari Undistributed Earnings Basic And Diluted
UndistributedEarningsBasicAndDiluted
0.11
CY2012 ari Weighted Average Life
WeightedAverageLife
P1Y9M18D
ari Weighted Average Life
WeightedAverageLife
P1Y9M18D
CY2012 ari Yield
Yield
0.041
ari Yield
Yield
0.046
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001467760
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
36883467 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Apollo Commercial Real Estate Finance, Inc.
dei Trading Symbol
TradingSymbol
ARI

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