2015 Q3 Form 10-Q Financial Statement

#000146776015000012 Filed on November 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $51.90M $35.40M
YoY Change 46.61% 79.7%
Cost Of Revenue $13.20M $8.800M
YoY Change 50.0% 877.78%
Gross Profit $38.70M $26.60M
YoY Change 45.49% 41.49%
Gross Profit Margin 74.57% 75.14%
Selling, General & Admin $6.200M $4.600M
YoY Change 34.78% 4.55%
% of Gross Profit 16.02% 17.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $6.196M $4.627M
YoY Change 33.91% 4.73%
Operating Profit $32.50M $21.97M
YoY Change 47.93% 52.78%
Interest Expense $13.19M $8.786M
YoY Change 50.09% 892.77%
% of Operating Profit 40.57% 39.99%
Other Income/Expense, Net
YoY Change
Pretax Income $25.80M $19.20M
YoY Change 34.38% 48.84%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $25.85M $19.16M
YoY Change 34.91% 48.52%
Net Earnings / Revenue 49.8% 54.12%
Basic Earnings Per Share
Diluted Earnings Per Share $430.7K $407.6K
COMMON SHARES
Basic Shares Outstanding 59.36M shares 46.85M shares
Diluted Shares Outstanding 59.93M shares 47.07M shares

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.20M $58.60M
YoY Change -65.53% -32.49%
Cash & Equivalents $20.16M $58.65M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $34.60M $75.70M
YoY Change -54.29% -18.16%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.548B $1.296B
YoY Change 19.49% 89.78%
Other Assets $38.30M $38.30M
YoY Change 0.0% 130.72%
Total Long-Term Assets $2.493B $1.707B
YoY Change 46.03% 98.47%
TOTAL ASSETS
Total Short-Term Assets $34.60M $75.70M
Total Long-Term Assets $2.493B $1.707B
Total Assets $2.528B $1.783B
YoY Change 41.77% 87.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.700M $3.600M
YoY Change 30.56% 111.76%
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 $40.90M $27.50M
YoY Change 48.73% 28.5%
LONG-TERM LIABILITIES
Long-Term Debt $1.103B $873.2M
YoY Change 26.27% 284.33%
Other Long-Term Liabilities $26.50M
YoY Change 24.41%
Total Long-Term Liabilities $1.103B $899.7M
YoY Change 22.55% 262.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $40.90M $27.50M
Total Long-Term Liabilities $1.103B $899.7M
Total Liabilities $1.143B $927.3M
YoY Change 23.3% 243.63%
SHAREHOLDERS EQUITY
Retained Earnings -$22.23M -$11.66M
YoY Change 90.59% -11.89%
Common Stock $1.409B $868.1M
YoY Change 62.33% 24.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.384B $855.7M
YoY Change
Total Liabilities & Shareholders Equity $2.528B $1.783B
YoY Change 41.77% 87.14%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $25.85M $19.16M
YoY Change 34.91% 48.52%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $21.60M $13.40M
YoY Change 61.19% 25.23%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$224.2M -$198.6M
YoY Change 12.89% 136.15%
Cash From Investing Activities -$224.2M -$198.6M
YoY Change 12.89% 136.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 174.0M 180.6M
YoY Change -3.65% 5211.76%
NET CHANGE
Cash From Operating Activities 21.60M 13.40M
Cash From Investing Activities -224.2M -198.6M
Cash From Financing Activities 174.0M 180.6M
Net Change In Cash -28.60M -4.600M
YoY Change 521.74% -93.43%
FREE CASH FLOW
Cash From Operating Activities $21.60M $13.40M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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9050000 USD
CY2014Q3 us-gaap Interest And Fee Income Loans Commercial
InterestAndFeeIncomeLoansCommercial
8025000 USD
us-gaap Interest And Fee Income Loans Commercial
InterestAndFeeIncomeLoansCommercial
18475000 USD
CY2015Q3 us-gaap Interest And Fee Income Loans Commercial
InterestAndFeeIncomeLoansCommercial
15184000 USD
us-gaap Interest And Fee Income Loans Commercial
InterestAndFeeIncomeLoansCommercial
37246000 USD
CY2014Q3 us-gaap Interest Expense
InterestExpense
8786000 USD
us-gaap Interest Expense
InterestExpense
15802000 USD
CY2015Q3 us-gaap Interest Expense
InterestExpense
13187000 USD
us-gaap Interest Expense
InterestExpense
36287000 USD
CY2014Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
26570000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
69757000 USD
CY2015Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
38691000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
100061000 USD
us-gaap Interest Paid
InterestPaid
14565000 USD
us-gaap Interest Paid
InterestPaid
36563000 USD
CY2014Q4 us-gaap Interest Receivable
InterestReceivable
10829000 USD
CY2015Q3 us-gaap Interest Receivable
InterestReceivable
14424000 USD
CY2014Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
6129000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
12914000 USD
CY2015Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
8293000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
24846000 USD
CY2014Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
37016000 USD
CY2015Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
20183000 USD
CY2014Q4 us-gaap Liabilities
Liabilities
990078000 USD
CY2015Q3 us-gaap Liabilities
Liabilities
1143408000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1845147000 USD
CY2015Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2527803000 USD
CY2015Q3 us-gaap Line Of Credit
LineOfCredit
735437000 USD
CY2014Q4 us-gaap Mortgage Backed Securities Available For Sale Fair Value Disclosure
MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure
17105000 USD
CY2015Q3 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
776609000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
601792000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-778520000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-684346000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
40464000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
62071000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
19159000 USD
us-gaap Net Income Loss
NetIncomeLoss
60698000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
25847000 USD
us-gaap Net Income Loss
NetIncomeLoss
76016000 USD
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
17299000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
55118000 USD
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
23543000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
69993000 USD
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1528000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2527000 USD
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-6259000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-11741000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
4627000 USD
us-gaap Operating Expenses
OperatingExpenses
13080000 USD
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
6196000 USD
us-gaap Operating Expenses
OperatingExpenses
17837000 USD
CY2014Q4 us-gaap Other Assets
OtherAssets
1200000 USD
CY2015Q3 us-gaap Other Assets
OtherAssets
767000 USD
CY2014Q3 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
CY2015Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
53000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-307000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
371000 USD
CY2014Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
39000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
116000 USD
CY2015Q3 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
CY2014Q3 us-gaap Other Income
OtherIncome
21000 USD
us-gaap Other Income
OtherIncome
26000 USD
CY2015Q3 us-gaap Other Income
OtherIncome
239000 USD
us-gaap Other Income
OtherIncome
252000 USD
CY2014Q4 us-gaap Participating Mortgage Loans Participation Liabilities Amount
ParticipatingMortgageLoansParticipationLiabilitiesAmount
89584000 USD
CY2015Q3 us-gaap Participating Mortgage Loans Participation Liabilities Amount
ParticipatingMortgageLoansParticipationLiabilitiesAmount
119407000 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 For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1741000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
49065000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
71135000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
5580000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
5580000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
8846000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2900000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
308000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
956000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
39477000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
3929000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
1258000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
8000 USD
CY2014Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1860000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
5580000 USD
CY2015Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2304000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6023000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
us-gaap Proceeds From Collection Of Mortgage Loans Held For Sale
ProceedsFromCollectionOfMortgageLoansHeldForSale
666000 USD
us-gaap Proceeds From Collection Of Mortgage Loans Held For Sale
ProceedsFromCollectionOfMortgageLoansHeldForSale
41479000 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
256970000 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
343430000 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
0 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
197680000 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
86000 USD
CY2014Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
3193000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
8725000 USD
CY2015Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
4097000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
11325000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
30127000 USD
CY2015Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
30127000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-10485000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-22225000 USD
CY2014Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
622194000 USD
CY2015Q3 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
735437000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
220000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2573000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1741000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
855069000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
1384395000 USD
CY2014Q4 us-gaap Trading Securities Pledged As Collateral
TradingSecuritiesPledgedAsCollateral
522730000 USD
CY2015Q3 us-gaap Trading Securities Pledged As Collateral
TradingSecuritiesPledgedAsCollateral
512485000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1933000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-4151000 USD
CY2014Q3 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-2147000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
4787000 USD
CY2015Q3 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-6926000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-5792000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47068929 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42538744 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59934008 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56415082 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46848675 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42322380 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59355613 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55818731 shares

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