2018 Q2 Form 10-Q Financial Statement

#000147604518000071 Filed on August 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $86.59M $79.64M
YoY Change 8.72% 2.11%
Cost Of Revenue $42.97M $39.08M
YoY Change 9.95% 125.5%
Gross Profit $43.62M $40.56M
YoY Change 7.54% -33.14%
Gross Profit Margin 50.38% 50.93%
Selling, General & Admin $34.21M $30.98M
YoY Change 10.43% 4.95%
% of Gross Profit 78.42% 76.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.92M $11.71M
YoY Change 1.77% -4.62%
% of Gross Profit 27.33% 28.88%
Operating Expenses $66.24M $67.74M
YoY Change -2.21% 13.98%
Operating Profit $19.14M $10.91M
YoY Change 75.42% -41.26%
Interest Expense $6.667M $6.773M
YoY Change -1.57% -4.5%
% of Operating Profit 34.84% 62.09%
Other Income/Expense, Net
YoY Change
Pretax Income $13.49M $5.069M
YoY Change 166.03% -59.22%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $13.39M $5.034M
YoY Change 165.93% -58.63%
Net Earnings / Revenue 15.46% 6.32%
Basic Earnings Per Share $0.29 $0.13
Diluted Earnings Per Share $0.29 $0.13
COMMON SHARES
Basic Shares Outstanding 45.87M shares 38.53M shares
Diluted Shares Outstanding 46.08M shares 38.75M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.100M $12.80M
YoY Change -36.72% -16.34%
Cash & Equivalents $8.077M $12.79M
Short-Term Investments
Other Short-Term Assets $4.400M $5.100M
YoY Change -13.73% -5.56%
Inventory
Prepaid Expenses
Receivables $7.000M $7.300M
Other Receivables $0.00 $0.00
Total Short-Term Assets $19.50M $25.20M
YoY Change -22.62% -6.67%
LONG-TERM ASSETS
Property, Plant & Equipment $1.309B $1.216B
YoY Change 7.64% -2.53%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $50.70M $50.40M
YoY Change 0.6% 13.51%
Other Assets $5.400M $4.300M
YoY Change 25.58% -15.69%
Total Long-Term Assets $1.365B $1.270B
YoY Change 7.42% -2.04%
TOTAL ASSETS
Total Short-Term Assets $19.50M $25.20M
Total Long-Term Assets $1.365B $1.270B
Total Assets $1.384B $1.295B
YoY Change 6.84% -2.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $31.40M $27.80M
YoY Change 12.95% 5.3%
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 $36.80M $32.80M
YoY Change 12.2% 5.47%
LONG-TERM LIABILITIES
Long-Term Debt $531.1M $573.1M
YoY Change -7.33% -4.23%
Other Long-Term Liabilities $7.600M $5.800M
YoY Change 31.03% 23.4%
Total Long-Term Liabilities $538.7M $578.9M
YoY Change -6.94% -4.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.80M $32.80M
Total Long-Term Liabilities $538.7M $578.9M
Total Liabilities $575.4M $611.7M
YoY Change -5.93% -3.54%
SHAREHOLDERS EQUITY
Retained Earnings -$83.08M -$61.47M
YoY Change 35.14% 68.89%
Common Stock $883.2M $739.9M
YoY Change 19.37% 2.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $800.1M $678.4M
YoY Change
Total Liabilities & Shareholders Equity $1.384B $1.295B
YoY Change 6.84% -2.14%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $13.39M $5.034M
YoY Change 165.93% -58.63%
Depreciation, Depletion And Amortization $11.92M $11.71M
YoY Change 1.77% -4.62%
Cash From Operating Activities $24.56M $21.99M
YoY Change 11.69% -13.9%
INVESTING ACTIVITIES
Capital Expenditures -$5.810M -$7.820M
YoY Change -25.7% 8.91%
Acquisitions
YoY Change
Other Investing Activities $1.820M -$4.320M
YoY Change -142.13% -280.75%
Cash From Investing Activities -$3.990M -$12.13M
YoY Change -67.11% 153.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -23.41M -8.920M
YoY Change 162.44% -50.25%
NET CHANGE
Cash From Operating Activities 24.56M 21.99M
Cash From Investing Activities -3.990M -12.13M
Cash From Financing Activities -23.41M -8.920M
Net Change In Cash -2.840M 940.0K
YoY Change -402.13% -66.67%
FREE CASH FLOW
Cash From Operating Activities $24.56M $21.99M
Capital Expenditures -$5.810M -$7.820M
Free Cash Flow $30.37M $29.81M
YoY Change 1.88% -8.89%

Facts In Submission

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6000 USD
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18000 USD
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InvestmentIncomeInterestAndDividend
15000 USD
us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
17000 USD
CY2017Q4 us-gaap Land
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291053000 USD
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582436000 USD
CY2018Q2 us-gaap Liabilities
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us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
1
CY2017Q4 us-gaap Liabilities And Stockholders Equity
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1392216000 USD
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2610000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
465000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
601000 USD
CY2017Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
6618000 USD
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MinorityInterestInOperatingPartnerships
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us-gaap Net Cash Provided By Used In Financing Activities
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-18845000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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-17183000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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36646000 USD
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5034000 USD
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CY2018Q2 us-gaap Net Income Loss
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13387000 USD
us-gaap Net Income Loss
NetIncomeLoss
16233000 USD
CY2017Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
35000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
66000 USD
CY2018Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
100000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
120000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4969000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9520000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13302000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
16063000 USD
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
68734000 USD
us-gaap Operating Expenses
OperatingExpenses
127543000 USD
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
67454000 USD
us-gaap Operating Expenses
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131221000 USD
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10909000 USD
us-gaap Operating Income Loss
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22935000 USD
CY2018Q2 us-gaap Operating Income Loss
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19136000 USD
us-gaap Operating Income Loss
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29402000 USD
us-gaap Payments Of Dividends Common Stock
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25634000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
30657000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
us-gaap Payments Of Financing Costs
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953000 USD
us-gaap Payments Of Stock Issuance Costs
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512000 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
12865000 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
12760000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
2523000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
4439000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
16871000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10681000 USD
us-gaap Proceeds From Secured Lines Of Credit
ProceedsFromSecuredLinesOfCredit
24000000 USD
us-gaap Proceeds From Secured Lines Of Credit
ProceedsFromSecuredLinesOfCredit
59000000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
5069000 USD
us-gaap Profit Loss
ProfitLoss
9713000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
13487000 USD
us-gaap Profit Loss
ProfitLoss
16353000 USD
CY2017Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
188154000 USD
CY2018Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
211974000 USD
CY2017Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1508236000 USD
CY2018Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1520545000 USD
CY2017Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1320082000 USD
CY2018Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1308571000 USD
CY2017Q4 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
24389000 USD
CY2018Q2 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
22776000 USD
CY2017Q2 us-gaap Real Estate Taxes And Insurance
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5573000 USD
us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
10361000 USD
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RealEstateTaxesAndInsurance
6180000 USD
us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
11955000 USD
CY2017Q2 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
2600000 USD
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
4800000 USD
CY2018Q2 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
2800000 USD
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
5200000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
31500000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
64000000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2070000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2425000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
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27166000 USD
CY2018Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
27881000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-69018000 USD
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RetainedEarningsAccumulatedDeficit
-83079000 USD
CY2017Q2 us-gaap Revenues
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79643000 USD
CY2017Q4 us-gaap Secured Debt
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538316000 USD
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150478000 USD
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Revenues
86590000 USD
us-gaap Revenues
Revenues
160623000 USD
CY2018Q2 us-gaap Secured Debt
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531072000 USD
us-gaap Share Based Compensation
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1786000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2114000 USD
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1405529 shares
CY2017Q1 us-gaap Stock Issued During Period Shares Employee Benefit Plan
StockIssuedDuringPeriodSharesEmployeeBenefitPlan
23980 shares
CY2018Q1 us-gaap Stock Issued During Period Shares Employee Benefit Plan
StockIssuedDuringPeriodSharesEmployeeBenefitPlan
21670 shares
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
500000 USD
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
500000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
16359000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
10425000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
803162000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
800132000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
681590000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
683769000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
809780000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
808678000 USD
CY2017Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2018Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38749661 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38659189 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46084688 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46006561 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38525306 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38443663 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45867625 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45811023 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</font></div></div>

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