2015 Q4 Form 10-Q Financial Statement

#000091584016000069 Filed on February 04, 2016

View on sec.gov

Income Statement

Concept 2015 Q4 2014 Q4
Revenue $344.4M $265.8M
YoY Change 29.61% -9.35%
Cost Of Revenue $285.5M $230.5M
YoY Change 23.86% -3.35%
Gross Profit $57.58M $35.22M
YoY Change 63.5% -35.58%
Gross Profit Margin 16.72% 13.25%
Selling, General & Admin $45.40M $42.40M
YoY Change 7.08% 5.47%
% of Gross Profit 78.84% 120.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.991M $2.341M
YoY Change 27.77% -19.47%
% of Gross Profit 5.19% 6.65%
Operating Expenses $48.40M $44.80M
YoY Change 8.04% 3.94%
Operating Profit $9.148M -$9.490M
YoY Change -196.4% -182.29%
Interest Expense $7.432M $9.747M
YoY Change -23.75% -39.2%
% of Operating Profit 81.24%
Other Income/Expense, Net $900.0K -$9.434M
YoY Change -109.54% -40.13%
Pretax Income $1.815M -$18.78M
YoY Change -109.66% 380.85%
Income Tax $600.0K -$696.0K
% Of Pretax Income 33.06%
Net Earnings $999.0K -$22.34M
YoY Change -104.47% 334.8%
Net Earnings / Revenue 0.29% -8.41%
Basic Earnings Per Share $0.03 -$0.84
Diluted Earnings Per Share $0.03 -$0.84
COMMON SHARES
Basic Shares Outstanding 31.76M shares 26.46M shares
Diluted Shares Outstanding 31.84M shares 26.46M shares

Balance Sheet

Concept 2015 Q4 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $144.9M $138.7M
YoY Change 4.47% -63.75%
Cash & Equivalents $144.9M $138.7M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.730B $1.679B
Prepaid Expenses
Receivables $50.60M $32.30M
Other Receivables $200.0K $100.0K
Total Short-Term Assets $1.926B $1.850B
YoY Change 4.08% 3.41%
LONG-TERM ASSETS
Property, Plant & Equipment $20.24M $19.32M
YoY Change 4.77% 10.77%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $11.70M $34.70M
YoY Change -66.28% -26.79%
Other Assets $364.4M $64.10M
YoY Change 468.49% 17.61%
Total Long-Term Assets $413.1M $139.2M
YoY Change 196.79% -3.1%
TOTAL ASSETS
Total Short-Term Assets $1.926B $1.850B
Total Long-Term Assets $413.1M $139.2M
Total Assets $2.339B $1.989B
YoY Change 17.56% 2.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $81.40M $65.80M
YoY Change 23.71% 8.76%
Accrued Expenses $72.80M $57.90M
YoY Change 25.73% 33.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $169.4M $140.7M
YoY Change 20.4% 4.38%
LONG-TERM LIABILITIES
Long-Term Debt $1.502B $1.537B
YoY Change -2.25% 1.34%
Other Long-Term Liabilities $34.30M $53.90M
YoY Change -36.36% 16.92%
Total Long-Term Liabilities $1.536B $1.591B
YoY Change -3.4% 1.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $169.4M $140.7M
Total Long-Term Liabilities $1.536B $1.591B
Total Liabilities $1.706B $1.731B
YoY Change -1.47% 2.0%
SHAREHOLDERS EQUITY
Retained Earnings -$226.2M -$593.6M
YoY Change -61.9% -2.81%
Common Stock $859.1M $852.8M
YoY Change 0.74% 0.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $633.0M $258.2M
YoY Change
Total Liabilities & Shareholders Equity $2.339B $1.989B
YoY Change 17.56% 2.93%

Cashflow Statement

Concept 2015 Q4 2014 Q4
OPERATING ACTIVITIES
Net Income $999.0K -$22.34M
YoY Change -104.47% 334.8%
Depreciation, Depletion And Amortization $2.991M $2.341M
YoY Change 27.77% -19.47%
Cash From Operating Activities -$77.85M -$172.5M
YoY Change -54.88% 51.51%
INVESTING ACTIVITIES
Capital Expenditures $2.663M $2.934M
YoY Change -9.24% -8.31%
Acquisitions
YoY Change
Other Investing Activities $1.400M -$2.300M
YoY Change -160.87% 0.0%
Cash From Investing Activities -$1.313M -$5.229M
YoY Change -74.89% -5.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$27.54M -$7.713M
YoY Change 257.06% 211.01%
NET CHANGE
Cash From Operating Activities -$77.85M -$172.5M
Cash From Investing Activities -$1.313M -$5.229M
Cash From Financing Activities -$27.54M -$7.713M
Net Change In Cash -$106.7M -$185.5M
YoY Change -42.47% 52.15%
FREE CASH FLOW
Cash From Operating Activities -$77.85M -$172.5M
Capital Expenditures $2.663M $2.934M
Free Cash Flow -$80.51M -$175.5M
YoY Change -54.12% 49.87%

Facts In Submission

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13734000 USD
CY2015Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
11721000 USD
CY2015Q3 us-gaap Land Available For Development
LandAvailableForDevelopment
270990000 USD
CY2015Q4 us-gaap Land Available For Development
LandAvailableForDevelopment
271321000 USD
CY2015Q4 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
6565000 USD
CY2015Q3 us-gaap Land Under Purchase Options Recorded
LandUnderPurchaseOptionsRecorded
0 USD
CY2015Q3 us-gaap Liabilities
Liabilities
1790780000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
1705719000 USD
CY2015Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2421203000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2338696000 USD
CY2015Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
116400000 USD
CY2015Q3 us-gaap Litigation Reserve
LitigationReserve
12607000 USD
CY2015Q4 us-gaap Litigation Reserve
LitigationReserve
13612000 USD
CY2014Q4 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
4000000 USD
CY2014Q4 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
206000 USD
CY2015Q4 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
0 USD
CY2014Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-7713000 USD
CY2015Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-27540000 USD
CY2014Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5229000 USD
CY2015Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1313000 USD
CY2014Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-172532000 USD
CY2015Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-77849000 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-22340000 USD
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
999000 USD
CY2015Q3 us-gaap Notes Payable
NotesPayable
1528275000 USD
CY2015Q4 us-gaap Notes Payable
NotesPayable
1502056000 USD
CY2015Q3 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 region
CY2015Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
13 state
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-9490000 USD
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
9148000 USD
CY2015Q3 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
36215000 USD
CY2015Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
34261000 USD
CY2015Q3 us-gaap Other Assets
OtherAssets
18994000 USD
CY2015Q4 us-gaap Other Assets
OtherAssets
16688000 USD
CY2014Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-22134000 USD
CY2015Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
999000 USD
CY2014Q4 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
9434000 USD
CY2015Q3 us-gaap Other Liabilities
OtherLiabilities
148966000 USD
CY2015Q4 us-gaap Other Liabilities
OtherLiabilities
122268000 USD
CY2014Q4 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-49000 USD
CY2015Q4 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
0 USD
CY2014Q4 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
126000 USD
CY2015Q4 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
413000 USD
CY2014Q4 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
184000 USD
CY2015Q4 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
201000 USD
CY2014Q4 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
1144000 USD
CY2015Q4 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
1779000 USD
CY2014Q4 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 USD
CY2015Q4 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 USD
CY2014Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2934000 USD
CY2015Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2663000 USD
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2015Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0 USD
CY2015Q4 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
1142000 USD
CY2014Q4 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
0 USD
CY2015Q4 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
150000 USD
CY2014Q4 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-199000 USD
CY2015Q4 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-201000 USD
CY2014Q4 us-gaap Proceeds From Sale Of Buildings
ProceedsFromSaleOfBuildings
0 USD
CY2015Q4 us-gaap Proceeds From Sale Of Buildings
ProceedsFromSaleOfBuildings
2437000 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22230000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
20236000 USD
CY2014Q3 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
87619000 USD
CY2014Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
99868000 USD
CY2015Q3 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
123457000 USD
CY2015Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
132462000 USD
CY2014Q4 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
8287000 USD
CY2015Q4 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
13651000 USD
CY2014Q4 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
30283000 USD
CY2015Q4 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
30088000 USD
CY2014Q4 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
265764000 USD
CY2015Q4 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
344449000 USD
CY2014Q4 us-gaap Repayments Of Debt
RepaymentsOfDebt
7388000 USD
CY2015Q4 us-gaap Repayments Of Debt
RepaymentsOfDebt
26926000 USD
CY2015Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
38901000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
39351000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-227163000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-226164000 USD
CY2014Q4 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
10926000 USD
CY2015Q4 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
13774000 USD
CY2014Q4 us-gaap Share Based Compensation
ShareBasedCompensation
1375000 USD
CY2015Q4 us-gaap Share Based Compensation
ShareBasedCompensation
1756000 USD
CY2014Q4 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
9807 shares
CY2015Q4 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
14536 shares
CY2014Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
16084000 USD
CY2014Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
27227000 USD
CY2015Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
27681000 USD
CY2015Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
28913000 USD
CY2014Q4 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
4612000 USD
CY2015Q4 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
11983000 USD
CY2014Q4 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
14230000 USD
CY2015Q4 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
10600000 USD
CY2014Q4 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1525000 USD
CY2015Q4 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2615000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
630423000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
632977000 USD
CY2014Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26457000 shares
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31844000 shares
CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26457000 shares
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31757000 shares
CY2015Q4 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates.</font><font style="font-family:inherit;font-size:10pt;"> The preparation of financial statements in conformity with GAAP requires management to make informed estimates and judgments that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Accordingly, actual results could differ from these estimates.</font></div></div>

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