$CHCI
Comstock Holding Companies, Inc.

2015 Q4 Form 10-K Financial Statement

#000119312517126231 Filed on April 17, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2015 Q2
Revenue $26.21M $12.29M $12.56M
YoY Change 166.22% -33.1% 6.47%
Cost Of Revenue $21.70M $10.90M $10.80M
YoY Change 189.33% -27.81% 13.68%
Gross Profit $4.500M $1.436M $1.782M
YoY Change 95.65% -56.03% -21.01%
Gross Profit Margin 17.17% 11.69% 14.18%
Selling, General & Admin $2.400M $2.351M $2.425M
YoY Change 9.09% 5.62% -15.71%
% of Gross Profit 53.33% 163.72% 136.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $100.0K $122.0K $94.00K
YoY Change 388.0% 291.67%
% of Gross Profit 2.22% 8.5% 5.27%
Operating Expenses $2.400M $2.351M $2.425M
YoY Change 9.09% 5.62% -15.71%
Operating Profit -$812.0K -$1.015M -$799.0K
YoY Change -68.16% -199.32% 28.04%
Interest Expense -$100.0K $97.00K $154.0K
YoY Change
% of Operating Profit
Other Income/Expense, Net $100.0K $28.00K $582.0K
YoY Change 0.0% -73.58% 4750.0%
Pretax Income -$753.0K -$987.0K -$217.0K
YoY Change -69.8% -187.5% -64.54%
Income Tax -$800.0K $36.00K $57.00K
% Of Pretax Income
Net Earnings -$1.725M -$1.091M -$808.0K
YoY Change -49.81% 586.16% -51.44%
Net Earnings / Revenue -6.58% -8.88% -6.43%
Basic Earnings Per Share -$0.54 -$0.33 -$0.25
Diluted Earnings Per Share -$0.54 -$0.33 -$0.25
COMMON SHARES
Basic Shares Outstanding 3.284M shares 3.173M shares
Diluted Shares Outstanding 3.284M shares 3.173M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.40M $1.800M $6.200M
YoY Change 65.33% -63.27% 29.17%
Cash & Equivalents $12.45M $1.761M $6.152M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $300.0K $500.0K $1.000M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $12.70M $2.300M $7.200M
YoY Change 67.11% -55.77% 18.03%
LONG-TERM ASSETS
Property, Plant & Equipment $394.0K $454.0K $478.0K
YoY Change -0.25% 74.62% 136.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.600M $2.500M $2.200M
YoY Change 44.44% -10.71% -26.67%
Total Long-Term Assets $45.46M $57.25M $54.81M
YoY Change -6.78% 16.32% 10.94%
TOTAL ASSETS
Total Short-Term Assets $12.70M $2.300M $7.200M
Total Long-Term Assets $45.46M $57.25M $54.81M
Total Assets $58.16M $59.55M $62.01M
YoY Change 3.18% 9.43% 11.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.600M $10.10M $9.500M
YoY Change -10.59% -13.68% -12.04%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $45.10M $46.90M $49.00M
YoY Change -1.74% 46.56% 53.61%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $52.70M $57.00M $58.50M
YoY Change -3.13% 30.14% 37.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $52.70M $57.00M $58.50M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $52.72M $57.03M $58.51M
YoY Change -3.29% 30.22% 36.83%
SHAREHOLDERS EQUITY
Retained Earnings -$175.8M -$174.1M -$173.0M
YoY Change 2.67% 3.74% 3.19%
Common Stock $176.0M $173.0M $172.8M
YoY Change 2.52% 1.09% 1.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.276M -$3.644M -$2.644M
YoY Change
Total Liabilities & Shareholders Equity $58.16M $59.55M $62.01M
YoY Change 3.18% 9.43% 11.72%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2015 Q2
OPERATING ACTIVITIES
Net Income -$1.725M -$1.091M -$808.0K
YoY Change -49.81% 586.16% -51.44%
Depreciation, Depletion And Amortization $100.0K $122.0K $94.00K
YoY Change 388.0% 291.67%
Cash From Operating Activities $10.00M -$1.800M -$1.800M
YoY Change -266.67% -143.9% 157.14%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$100.0K $0.00
YoY Change -100.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities -$200.0K -$200.0K -$100.0K
YoY Change -120.0% -33.33% 0.0%
Cash From Investing Activities -$100.0K -$200.0K -$200.0K
YoY Change -111.11% -50.0% 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 900.0K -2.400M 2.700M
YoY Change -88.31% -31.43% -250.0%
NET CHANGE
Cash From Operating Activities 10.00M -1.800M -1.800M
Cash From Investing Activities -100.0K -200.0K -200.0K
Cash From Financing Activities 900.0K -2.400M 2.700M
Net Change In Cash 10.80M -4.400M 700.0K
YoY Change 315.38% -2300.0% -126.92%
FREE CASH FLOW
Cash From Operating Activities $10.00M -$1.800M -$1.800M
Capital Expenditures $0.00 -$100.0K $0.00
Free Cash Flow $10.00M -$1.700M -$1.800M
YoY Change -272.41% -140.48% 157.14%

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79000
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288000
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0
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315000
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2000
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13000
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400000
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1 Investment
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0.1880 pure
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-0.3854 pure
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1285000
CY2016 dei Entity Registrant Name
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Comstock Holding Companies, Inc.
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586000
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0
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-37000
CY2016 dei Document Type
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10-K
CY2016 dei Entity Central Index Key
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0001299969
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1046000
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2016-12-31
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0.0390 pure
CY2016 dei Entity Well Known Seasoned Issuer
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No
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38236000
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86000
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CY2016 dei Document Fiscal Year Focus
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2016
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false
CY2016 dei Current Fiscal Year End Date
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5586000
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-2.81
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8000
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181000
CY2016 dei Document Fiscal Period Focus
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FY
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CY2016 dei Entity Filer Category
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Smaller Reporting Company
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17000
CY2016 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
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-37000
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2917000
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4691000
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227000
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CY2016 us-gaap Prior Period Reclassification Adjustment Description
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Reclassifications</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Certain amounts in the prior year consolidated financial statements have been reclassified to the current year presentation. The impact of the reclassifications made to prior year amounts is not material and did not affect net loss.</p> </div>
CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2016 us-gaap Stockholders Equity Reverse Stock Split
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On September 25, 2015, the Company effected a 1-for-7 reverse stock split of its issued and outstanding Class A common stock and Class B common stock.
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CY2016 us-gaap Guarantees Indemnifications And Warranties Policies
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> <b><i>Warranty reserve</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Warranty reserves for units settled are established to cover potential costs for materials and labor with regard to warranty-type claims expected to arise during the typical <font style="WHITE-SPACE: nowrap">one-year</font> warranty period provided by the Company or within the <font style="WHITE-SPACE: nowrap">two-year</font> statutorily mandated structural warranty period for condominiums. Because the Company typically subcontracts its homebuilding work, subcontractors are required to provide the Company with an indemnity and a certificate of insurance prior to receiving payments for their work. Claims relating to workmanship and materials are generally the primary responsibility of the subcontractors and product manufacturers. 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FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2016</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2015</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Balance at beginning of period</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">312</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">492</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Additions</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">233</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">246</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Releases and/or charges incurred</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(258</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(426</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Balance at end of period</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">287</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">312</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; 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9978000
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2017
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-1703000
CY2016 chci Interest Expensed As Component Of Cost Of Sales
InterestExpensedAsComponentOfCostOfSales
1833000
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.33
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-1046000
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-756000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-854000
CY2016Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
13103000
CY2016Q3 us-gaap Profit Loss
ProfitLoss
-756000
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.54
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.54
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
-1725000
CY2016 chci Number Of Equity Method Investments
NumberOfEquityMethodInvestments
1 Investment
CY2016 chci Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
-0.1287 pure
CY2016 chci Maturity Date Of Note Receivable
MaturityDateOfNoteReceivable
2019-09-02
CY2016 chci Interest Rate On Notes Receivable
InterestRateOnNotesReceivable
0.06 pure
CY2016 chci Effective Income Tax Rate Reconciliation Return To Provision Adjustments
EffectiveIncomeTaxRateReconciliationReturnToProvisionAdjustments
0.1816 pure
CY2016 chci Net Operating Loss Carry Forward Expiration Year Begin
NetOperatingLossCarryForwardExpirationYearBegin
2027
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.31
CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-943000
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-738000
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-930000
CY2015Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
10317000
CY2015Q1 us-gaap Profit Loss
ProfitLoss
-668000
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-808000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-217000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-799000
CY2015Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
12564000
CY2015Q2 us-gaap Profit Loss
ProfitLoss
-274000
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.55
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.55
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-1724000
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1263000
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-1271000
CY2016Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
9706000
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-1288000
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.60
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.60
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-1995000
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1429000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1442000
CY2015Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-753000
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-812000
CY2015Q4 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
26207000
CY2015Q4 us-gaap Profit Loss
ProfitLoss
2000
CY2016Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.38
CY2016Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.38
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
-4576000
CY2016Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3259000
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-3297000
CY2016Q4 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
8793000
CY2016Q4 us-gaap Profit Loss
ProfitLoss
-3257000

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