$CHCI
Comstock Holding Companies, Inc.

2016 Q2 Form 10-Q Financial Statement

#000119312516682032 Filed on August 15, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $9.978M $12.56M
YoY Change -20.58% 6.47%
Cost Of Revenue $9.300M $10.80M
YoY Change -13.89% 13.68%
Gross Profit $640.0K $1.782M
YoY Change -64.09% -21.01%
Gross Profit Margin 6.41% 14.18%
Selling, General & Admin $1.776M $2.425M
YoY Change -26.76% -15.71%
% of Gross Profit 277.5% 136.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $49.00K $94.00K
YoY Change -47.87% 291.67%
% of Gross Profit 7.66% 5.27%
Operating Expenses $1.776M $2.425M
YoY Change -26.76% -15.71%
Operating Profit -$1.442M -$799.0K
YoY Change 80.48% 28.04%
Interest Expense $304.0K $154.0K
YoY Change 97.4%
% of Operating Profit
Other Income/Expense, Net $13.00K $582.0K
YoY Change -97.77% 4750.0%
Pretax Income -$1.429M -$217.0K
YoY Change 558.53% -64.54%
Income Tax $32.00K $57.00K
% Of Pretax Income
Net Earnings -$1.995M -$808.0K
YoY Change 146.91% -51.44%
Net Earnings / Revenue -19.99% -6.43%
Basic Earnings Per Share -$0.60 -$0.25
Diluted Earnings Per Share -$0.60 -$0.25
COMMON SHARES
Basic Shares Outstanding 3.319M shares 3.173M shares
Diluted Shares Outstanding 3.319M shares 3.173M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.400M $6.200M
YoY Change -45.16% 29.17%
Cash & Equivalents $3.377M $6.152M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.100M $1.000M
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.500M $7.200M
YoY Change -37.5% 18.03%
LONG-TERM ASSETS
Property, Plant & Equipment $291.0K $478.0K
YoY Change -39.12% 136.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.800M $2.200M
YoY Change 27.27% -26.67%
Total Long-Term Assets $42.84M $54.81M
YoY Change -21.84% 10.94%
TOTAL ASSETS
Total Short-Term Assets $4.500M $7.200M
Total Long-Term Assets $42.84M $54.81M
Total Assets $47.34M $62.01M
YoY Change -23.66% 11.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.400M $9.500M
YoY Change -11.58% -12.04%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $38.90M $49.00M
YoY Change -20.61% 53.61%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $47.30M $58.50M
YoY Change -19.15% 37.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $47.30M $58.50M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $47.29M $58.51M
YoY Change -19.17% 36.83%
SHAREHOLDERS EQUITY
Retained Earnings -$179.4M -$173.0M
YoY Change 3.73% 3.19%
Common Stock $176.0M $172.8M
YoY Change 1.87% 1.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.838M -$2.644M
YoY Change
Total Liabilities & Shareholders Equity $47.34M $62.01M
YoY Change -23.66% 11.72%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$1.995M -$808.0K
YoY Change 146.91% -51.44%
Depreciation, Depletion And Amortization $49.00K $94.00K
YoY Change -47.87% 291.67%
Cash From Operating Activities $1.000M -$1.800M
YoY Change -155.56% 157.14%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 -$100.0K
YoY Change -100.0% 0.0%
Cash From Investing Activities $0.00 -$200.0K
YoY Change -100.0% 100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.200M 2.700M
YoY Change -181.48% -250.0%
NET CHANGE
Cash From Operating Activities 1.000M -1.800M
Cash From Investing Activities 0.000 -200.0K
Cash From Financing Activities -2.200M 2.700M
Net Change In Cash -1.200M 700.0K
YoY Change -271.43% -126.92%
FREE CASH FLOW
Cash From Operating Activities $1.000M -$1.800M
Capital Expenditures $0.00 $0.00
Free Cash Flow $1.000M -$1.800M
YoY Change -155.56% 157.14%

Facts In Submission

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IncreaseDecreaseInInterestPayableNet
113000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
861000
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2717000
us-gaap Operating Income Loss
OperatingIncomeLoss
-2713000
us-gaap Interest Costs Incurred
InterestCostsIncurred
1593000
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
244000
us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
462000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-9586000
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
19684000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
789000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8000
us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
-17000
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
-50000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
57000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
627000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
172000
us-gaap Other Real Estate Period Increase Decrease
OtherRealEstatePeriodIncreaseDecrease
3318000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
128000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Our financial statements have been prepared in accordance with GAAP. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts for the reporting periods. We base these estimates and judgments on historical experience and on various other factors that we believe to be reasonable under the circumstances. We evaluate these estimates and judgements on an ongoing basis. Actual results may differ from those estimates under different assumptions or conditions.</p> </div>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3312000 shares
us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
On September 25, 2015, the Company effected a 1-for-7 reverse stock split of its issued and outstanding shares of Class A common stock and Class B common stock.
dei Trading Symbol
TradingSymbol
CHCI
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3312000 shares
CY2015Q2 chci Interest And Real Estate Taxes Incurred And Capitalized
InterestAndRealEstateTaxesIncurredAndCapitalized
987000
CY2015Q2 chci Real Estate Taxes Incurred And Expensed For Inactive Projects Net
RealEstateTaxesIncurredAndExpensedForInactiveProjectsNet
2000
us-gaap Profit Loss
ProfitLoss
-2749000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
886000
us-gaap Share Based Compensation
ShareBasedCompensation
41000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
50000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
18927000
us-gaap Interest Paid Net
InterestPaidNet
181000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 Segment
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2717000
chci Interest And Real Estate Tax Expense
InterestAndRealEstateTaxExpense
522000
chci Interest Incurred And Expensed For Inactive Projects Net
InterestIncurredAndExpensedForInactiveProjectsNet
5000
chci Period For Which Warranty Claims Expected To Arise Under Statutorily Period
PeriodForWhichWarrantyClaimsExpectedToAriseUnderStatutorilyPeriod
P2Y
chci Interest And Real Estate Taxes Expensed As Component Of Cost Of Sales
InterestAndRealEstateTaxesExpensedAsComponentOfCostOfSales
807000
chci Interest And Real Estate Taxes Incurred And Capitalized
InterestAndRealEstateTaxesIncurredAndCapitalized
1710000
CY2015Q2 us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
-118000
CY2015Q2 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
54000
CY2015Q2 chci Real Estate Taxes Incurred And Capitalized
RealEstateTaxesIncurredAndCapitalized
121000
chci Real Estate Taxes Incurred And Expensed For Inactive Projects Net
RealEstateTaxesIncurredAndExpensedForInactiveProjectsNet
5000
chci Real Estate Taxes Incurred And Capitalized
RealEstateTaxesIncurredAndCapitalized
117000
chci Interest Expensed As Component Of Cost Of Sales
InterestExpensedAsComponentOfCostOfSales
706000
chci Maturity Date Of Note Receivable
MaturityDateOfNoteReceivable
2019-09-02
chci Interest Rate On Notes Receivable
InterestRateOnNotesReceivable
0.06 pure
chci Increase In Preferred Stock Value In Connection With Dividends Paid
IncreaseInPreferredStockValueInConnectionWithDividendsPaid
52000
CY2013Q1 chci Amount Paid For Membership Interest In Private Placement
AmountPaidForMembershipInterestInPrivatePlacement
7300000
CY2015Q2 us-gaap Home Building Costs
HomeBuildingCosts
10594000
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1936000
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
CY2015Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
94000
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
582000
CY2015Q2 us-gaap Gross Profit
GrossProfit
1782000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-808000
CY2015Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
534000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-217000
CY2015Q2 us-gaap Interest Expense
InterestExpense
154000
CY2015Q2 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
154000
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-808000
CY2015Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
50000
CY2015Q2 us-gaap Home Building Revenue
HomeBuildingRevenue
12115000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-799000
CY2015Q2 us-gaap Interest Costs Incurred
InterestCostsIncurred
866000
CY2015Q2 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
188000
CY2015Q2 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
449000
CY2015Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
12564000
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
57000
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3173000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3173000 shares
CY2015Q2 us-gaap Profit Loss
ProfitLoss
-274000
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
489000
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
67000
CY2015Q2 chci Interest And Real Estate Tax Expense
InterestAndRealEstateTaxExpense
156000
CY2015Q2 chci Interest And Real Estate Taxes Expensed As Component Of Cost Of Sales
InterestAndRealEstateTaxesExpensedAsComponentOfCostOfSales
430000
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1429000
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
13000
CY2016Q2 us-gaap Gross Profit
GrossProfit
640000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-1909000
CY2016Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
448000
CY2016Q2 us-gaap Interest Expense
InterestExpense
304000
CY2016Q2 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
304000
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1995000
CY2016Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
42000
CY2016Q2 us-gaap Home Building Revenue
HomeBuildingRevenue
9699000
CY2015Q2 chci Interest Expensed As Component Of Cost Of Sales
InterestExpensedAsComponentOfCostOfSales
376000
CY2016Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2016Q2 us-gaap Home Building Costs
HomeBuildingCosts
9185000
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1373000
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.60
CY2016Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
49000
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.60
CY2016Q2 us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
-62000
CY2016Q2 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
52000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1442000
CY2016Q2 us-gaap Interest Costs Incurred
InterestCostsIncurred
857000
CY2016Q2 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
153000
CY2016Q2 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
279000
CY2016Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
9978000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
32000
CY2016Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
86000
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3319000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3319000 shares
CY2016Q2 us-gaap Profit Loss
ProfitLoss
-1461000
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
403000
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
19000
CY2016Q2 chci Interest And Real Estate Tax Expense
InterestAndRealEstateTaxExpense
306000
CY2016Q2 chci Interest And Real Estate Taxes Expensed As Component Of Cost Of Sales
InterestAndRealEstateTaxesExpensedAsComponentOfCostOfSales
466000
CY2016Q2 chci Interest And Real Estate Taxes Incurred And Capitalized
InterestAndRealEstateTaxesIncurredAndCapitalized
952000
CY2016Q2 chci Real Estate Taxes Incurred And Expensed For Inactive Projects Net
RealEstateTaxesIncurredAndExpensedForInactiveProjectsNet
2000
CY2016Q2 chci Real Estate Taxes Incurred And Capitalized
RealEstateTaxesIncurredAndCapitalized
95000
CY2016Q2 chci Interest Expensed As Component Of Cost Of Sales
InterestExpensedAsComponentOfCostOfSales
414000

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chci-20160630.xml Edgar Link completed
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