$CHCI
Comstock Holding Companies, Inc.

2017 Q3 Form 10-Q Financial Statement

#000119312517345713 Filed on November 16, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $13.82M $13.10M
YoY Change 5.43% 6.63%
Cost Of Revenue $13.30M $12.10M
YoY Change 9.92% 11.01%
Gross Profit $484.0K $1.033M
YoY Change -53.15% -28.06%
Gross Profit Margin 3.5% 7.88%
Selling, General & Admin $1.664M $1.663M
YoY Change 0.06% -29.26%
% of Gross Profit 343.8% 160.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $89.00K
YoY Change -100.0% -27.05%
% of Gross Profit 0.0% 8.62%
Operating Expenses $1.664M $1.663M
YoY Change 0.06% -29.26%
Operating Profit -$1.193M -$854.0K
YoY Change 39.7% -15.86%
Interest Expense $16.00K $133.0K
YoY Change -87.97% 37.11%
% of Operating Profit
Other Income/Expense, Net $21.00K $98.00K
YoY Change -78.57% 250.0%
Pretax Income -$1.172M -$756.0K
YoY Change 55.03% -23.4%
Income Tax $29.00K $0.00
% Of Pretax Income
Net Earnings -$1.510M -$1.046M
YoY Change 44.36% -4.12%
Net Earnings / Revenue -10.93% -7.98%
Basic Earnings Per Share -$0.45 -$0.34
Diluted Earnings Per Share -$0.45 -$0.34
COMMON SHARES
Basic Shares Outstanding 3.374M shares 3.326M shares
Diluted Shares Outstanding 3.374M shares 3.326M shares

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.100M $2.500M
YoY Change -16.0% 38.89%
Cash & Equivalents $2.086M $2.464M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.300M $500.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.400M $3.000M
YoY Change 13.33% 30.43%
LONG-TERM ASSETS
Property, Plant & Equipment $329.0K $282.0K
YoY Change 16.67% -37.89%
Goodwill $1.702M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.000M $2.600M
YoY Change -61.54% 4.0%
Total Long-Term Assets $52.61M $53.58M
YoY Change -1.8% -6.42%
TOTAL ASSETS
Total Short-Term Assets $3.400M $3.000M
Total Long-Term Assets $52.61M $53.58M
Total Assets $56.01M $56.58M
YoY Change -0.99% -5.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.800M $12.20M
YoY Change -27.87% 20.79%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $44.00M $41.80M
YoY Change 5.26% -10.87%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $52.80M $54.00M
YoY Change -2.22% -5.26%
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 $52.80M $54.00M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $52.90M $53.95M
YoY Change -1.94% -5.41%
SHAREHOLDERS EQUITY
Retained Earnings -$186.5M -$180.5M
YoY Change 3.37% 3.68%
Common Stock $176.1M
YoY Change 1.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$11.36M -$5.762M
YoY Change
Total Liabilities & Shareholders Equity $56.01M $56.58M
YoY Change -0.99% -5.0%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$1.510M -$1.046M
YoY Change 44.36% -4.12%
Depreciation, Depletion And Amortization $0.00 $89.00K
YoY Change -100.0% -27.05%
Cash From Operating Activities $600.0K -$6.800M
YoY Change -108.82% 277.78%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$600.0K $100.0K
YoY Change -700.0% -150.0%
Cash From Investing Activities -$600.0K $100.0K
YoY Change -700.0% -150.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.000M 5.900M
YoY Change -116.95% -345.83%
NET CHANGE
Cash From Operating Activities 600.0K -6.800M
Cash From Investing Activities -600.0K 100.0K
Cash From Financing Activities -1.000M 5.900M
Net Change In Cash -1.000M -800.0K
YoY Change 25.0% -81.82%
FREE CASH FLOW
Cash From Operating Activities $600.0K -$6.800M
Capital Expenditures $0.00 $0.00
Free Cash Flow $600.0K -$6.800M
YoY Change -108.82% 300.0%

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<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 consolidated financial statements have been prepared in accordance with GAAP. The preparation of these consolidated 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>
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ImpairmentOfRealEstate
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RealEstateRevenueNet
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IncomeTaxExpenseBenefit
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us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
259000
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1450000
chci Interest And Real Estate Taxes Incurred And Capitalized
InterestAndRealEstateTaxesIncurredAndCapitalized
2574000
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10000
chci Real Estate Taxes Incurred And Capitalized
RealEstateTaxesIncurredAndCapitalized
170000
chci Impairment Recovery Value Of Real Estate
ImpairmentRecoveryValueOfRealEstate
-91000
chci Interest Expensed As Component Of Cost Of Sales
InterestExpensedAsComponentOfCostOfSales
1285000
chci Increase In Preferred Stock Value In Connection With Dividends Paid
IncreaseInPreferredStockValueInConnectionWithDividendsPaid
78000
CY2017Q3 us-gaap Home Building Costs
HomeBuildingCosts
12482000
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EarningsPerShareBasic
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DepreciationAndAmortization
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EarningsPerShareDiluted
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EffectiveIncomeTaxRateContinuingOperations
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CY2017Q3 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
66000
CY2017Q3 us-gaap Other Nonoperating Income Expense
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21000
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GrossProfit
484000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-1510000
CY2017Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
309000
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1172000
CY2017Q3 us-gaap Interest Expense
InterestExpense
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InterestExpenseBorrowings
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CY2017Q3 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
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CY2016Q3 us-gaap Interest Expense
InterestExpense
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InterestExpenseBorrowings
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CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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NetIncomeLoss
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CY2016Q3 us-gaap Product Warranty Accrual Warranties Issued
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CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2016Q3 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2016Q3 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
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CY2016Q3 chci Interest And Real Estate Tax Expense
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CY2016Q3 chci Interest And Real Estate Taxes Expensed As Component Of Cost Of Sales
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CY2016Q3 chci Interest And Real Estate Taxes Incurred And Capitalized
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CY2016Q3 chci Real Estate Taxes Incurred And Expensed For Inactive Projects Net
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CY2016Q3 chci Real Estate Taxes Incurred And Capitalized
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53000
CY2016Q3 chci Impairment Recovery Value Of Real Estate
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CY2016Q3 chci Interest Expensed As Component Of Cost Of Sales
InterestExpensedAsComponentOfCostOfSales
579000

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