2015 Q2 Form 10-Q Financial Statement

#000146776015000009 Filed on July 29, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $44.40M $29.00M
YoY Change 53.1% 59.34%
Cost Of Revenue $11.60M $5.300M
YoY Change 118.87% 430.0%
Gross Profit $32.80M $23.80M
YoY Change 37.82% 38.37%
Gross Profit Margin 73.87% 82.07%
Selling, General & Admin $5.900M $4.400M
YoY Change 34.09% 10.0%
% of Gross Profit 17.99% 18.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $5.946M $4.445M
YoY Change 33.77% 10.11%
Operating Profit $26.85M $19.36M
YoY Change 38.74% 47.04%
Interest Expense $11.92M $5.258M
YoY Change 126.65% 450.58%
% of Operating Profit 44.38% 27.17%
Other Income/Expense, Net
YoY Change
Pretax Income $24.70M $24.00M
YoY Change 2.92% 103.39%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $24.66M $23.96M
YoY Change 2.92% 103.22%
Net Earnings / Revenue 55.54% 82.61%
Basic Earnings Per Share
Diluted Earnings Per Share $410.3K $556.8K
COMMON SHARES
Basic Shares Outstanding 58.43M shares 42.89M shares
Diluted Shares Outstanding 59.02M shares 43.10M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.80M $63.30M
YoY Change -22.91% -59.63%
Cash & Equivalents $48.85M $63.34M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $61.60M $78.50M
YoY Change -21.53% -51.42%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.523B $1.096B
YoY Change 38.97% 85.17%
Other Assets $43.40M $35.20M
YoY Change 23.3% 3420.0%
Total Long-Term Assets $2.272B $1.476B
YoY Change 53.89% 100.44%
TOTAL ASSETS
Total Short-Term Assets $61.60M $78.50M
Total Long-Term Assets $2.272B $1.476B
Total Assets $2.333B $1.555B
YoY Change 50.08% 73.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.300M $5.300M
YoY Change 56.6% 278.57%
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 $39.90M $28.90M
YoY Change 38.06% 38.94%
LONG-TERM LIABILITIES
Long-Term Debt $1.247B $674.8M
YoY Change 84.74% 252.74%
Other Long-Term Liabilities $2.100M $1.100M
YoY Change 90.91%
Total Long-Term Liabilities $1.249B $675.9M
YoY Change 84.75% 253.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $39.90M $28.90M
Total Long-Term Liabilities $1.249B $675.9M
Total Liabilities $1.289B $704.8M
YoY Change 82.84% 232.23%
SHAREHOLDERS EQUITY
Retained Earnings -$15.97M -$10.13M
YoY Change 57.57% 8.71%
Common Stock $1.063B $860.9M
YoY Change 23.53% 23.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.045B $850.0M
YoY Change
Total Liabilities & Shareholders Equity $2.333B $1.555B
YoY Change 50.08% 73.11%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $24.66M $23.96M
YoY Change 2.92% 103.22%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $23.10M $15.70M
YoY Change 47.13% 38.94%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$288.5M -$588.2M
YoY Change -50.95% 1284.0%
Cash From Investing Activities -$288.5M -$588.2M
YoY Change -50.95% 1284.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 274.3M 509.4M
YoY Change -46.15% -1451.19%
NET CHANGE
Cash From Operating Activities 23.10M 15.70M
Cash From Investing Activities -288.5M -588.2M
Cash From Financing Activities 274.3M 509.4M
Net Change In Cash 8.900M -63.10M
YoY Change -114.1% -8.42%
FREE CASH FLOW
Cash From Operating Activities $23.10M $15.70M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Interest And Dividend Income Securities Held To Maturity
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6394000 USD
CY2014Q2 us-gaap Interest And Fee Income Loans Commercial
InterestAndFeeIncomeLoansCommercial
6438000 USD
us-gaap Interest And Fee Income Loans Commercial
InterestAndFeeIncomeLoansCommercial
10449000 USD
CY2015Q2 us-gaap Interest And Fee Income Loans Commercial
InterestAndFeeIncomeLoansCommercial
11968000 USD
us-gaap Interest And Fee Income Loans Commercial
InterestAndFeeIncomeLoansCommercial
22061000 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
5258000 USD
us-gaap Interest Expense
InterestExpense
7015000 USD
CY2015Q2 us-gaap Interest Expense
InterestExpense
11917000 USD
us-gaap Interest Expense
InterestExpense
23399000 USD
CY2014Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
23784000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
43187000 USD
CY2015Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
32817000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
61371000 USD
CY2014Q2 us-gaap Interest Income Other
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4000 USD
us-gaap Interest Income Other
InterestIncomeOther
4000 USD
CY2015Q2 us-gaap Interest Income Other
InterestIncomeOther
6000 USD
us-gaap Interest Income Other
InterestIncomeOther
16000 USD
us-gaap Interest Paid
InterestPaid
2998000 USD
us-gaap Interest Paid
InterestPaid
20186000 USD
CY2014Q4 us-gaap Interest Receivable
InterestReceivable
10829000 USD
CY2015Q2 us-gaap Interest Receivable
InterestReceivable
12817000 USD
CY2014Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
4366000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
6785000 USD
CY2015Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
8265000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
16553000 USD
CY2014Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
37016000 USD
CY2015Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
20021000 USD
CY2014Q4 us-gaap Liabilities
Liabilities
990078000 USD
CY2015Q2 us-gaap Liabilities
Liabilities
1288594000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1845147000 USD
CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2333438000 USD
CY2015Q2 us-gaap Line Of Credit
LineOfCredit
878352000 USD
CY2014Q4 us-gaap Mortgage Backed Securities Available For Sale Fair Value Disclosure
MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure
17105000 USD
CY2015Q2 us-gaap Mortgage Backed Securities Available For Sale Fair Value Disclosure
MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
595959000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
427768000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-579852000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-460056000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
27132000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
40495000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
23958000 USD
us-gaap Net Income Loss
NetIncomeLoss
41539000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
24658000 USD
us-gaap Net Income Loss
NetIncomeLoss
50169000 USD
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
22098000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
37819000 USD
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
22798000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
46449000 USD
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3271000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
4055000 USD
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-3170000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-5483000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
4445000 USD
us-gaap Operating Expenses
OperatingExpenses
8452000 USD
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
5946000 USD
us-gaap Operating Expenses
OperatingExpenses
11642000 USD
CY2014Q4 us-gaap Other Assets
OtherAssets
1200000 USD
CY2015Q2 us-gaap Other Assets
OtherAssets
582000 USD
CY2014Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
0 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
0 USD
CY2015Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
738000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-360000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
318000 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
93000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
76000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
678000 USD
CY2014Q4 us-gaap Participating Mortgage Loans Participation Liabilities Amount
ParticipatingMortgageLoansParticipationLiabilitiesAmount
89584000 USD
CY2015Q2 us-gaap Participating Mortgage Loans Participation Liabilities Amount
ParticipatingMortgageLoansParticipationLiabilitiesAmount
120991000 USD
us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
0 USD
us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
327000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
30325000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
45254000 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
3720000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5433000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2830000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
208000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
279000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
3929000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
1256000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
8000 USD
CY2014Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1860000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3720000 USD
CY2015Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1860000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3720000 USD
CY2014Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
86250000 USD
CY2015Q2 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
86250000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
3450000 shares
CY2015Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
3450000 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
3450000 shares
CY2015Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
3450000 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
35000 USD
CY2015Q2 us-gaap Preferred Stock Value
PreferredStockValue
35000 USD
us-gaap Proceeds From Collection Of Mortgage Loans Held For Sale
ProceedsFromCollectionOfMortgageLoansHeldForSale
452000 USD
us-gaap Proceeds From Collection Of Mortgage Loans Held For Sale
ProceedsFromCollectionOfMortgageLoansHeldForSale
28474000 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
143750000 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
us-gaap Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
0 USD
us-gaap Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
20794000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
158693000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
193430000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
17291000 USD
us-gaap Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
21000 USD
us-gaap Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
125000 USD
CY2014Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
2966000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
5531000 USD
CY2015Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
3887000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
7228000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
30127000 USD
CY2015Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
34547000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-10485000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-15965000 USD
CY2014Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
622194000 USD
CY2015Q2 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
878352000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
-88000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1817000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
193430000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
855069000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
1044844000 USD
CY2014Q4 us-gaap Trading Securities Pledged As Collateral
TradingSecuritiesPledgedAsCollateral
522730000 USD
CY2015Q2 us-gaap Trading Securities Pledged As Collateral
TradingSecuritiesPledgedAsCollateral
518851000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-1093000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-6241000 USD
CY2014Q2 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
4749000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
6934000 USD
CY2015Q2 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-2273000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
1136000 USD
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43099354 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40236109 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59022217 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54621401 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42888747 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40021722 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58429155 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54020978 shares

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