$CLPR
Clipper Realty Inc.

2017 Q3 Form 10-Q Financial Statement

#000143774917017747 Filed on October 27, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $26.01M $24.84M
YoY Change 4.72% 13.93%
Cost Of Revenue $18.65M $17.49M
YoY Change 6.66% 180.24%
Gross Profit $7.356M $7.349M
YoY Change 0.1% -52.77%
Gross Profit Margin 28.28% 29.59%
Selling, General & Admin $8.040M $7.280M
YoY Change 10.44% 32.12%
% of Gross Profit 109.3% 99.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.480M $4.530M
YoY Change -1.1% 19.84%
% of Gross Profit 60.9% 61.64%
Operating Expenses $7.356M $11.29M
YoY Change -34.84% 25.31%
Operating Profit $7.356M $7.349M
YoY Change 0.1% 12.2%
Interest Expense $8.925M $9.886M
YoY Change -9.72% -206.88%
% of Operating Profit 121.33% 134.52%
Other Income/Expense, Net
YoY Change
Pretax Income -$1.570M -$2.540M
YoY Change -38.19% -5.58%
Income Tax
% Of Pretax Income
Net Earnings -$1.569M -$2.537M
YoY Change -38.16% 90.75%
Net Earnings / Revenue -6.03% -10.22%
Basic Earnings Per Share -$631.00
Diluted Earnings Per Share -$0.04 -$41.80K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.80M $82.10M
YoY Change -33.25% -35.35%
Cash & Equivalents $54.77M $82.10M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $5.200M $3.900M
Other Receivables $0.00 $0.00
Total Short-Term Assets $60.00M $86.00M
YoY Change -30.23% -33.74%
LONG-TERM ASSETS
Property, Plant & Equipment $914.8M $821.5M
YoY Change 11.36% 13.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $36.40M $39.40M
YoY Change -7.61% 83.26%
Total Long-Term Assets $963.4M $877.1M
YoY Change 9.84% 15.01%
TOTAL ASSETS
Total Short-Term Assets $60.00M $86.00M
Total Long-Term Assets $963.4M $877.1M
Total Assets $1.023B $963.1M
YoY Change 6.26% 7.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.400M $7.600M
YoY Change -2.63% 61.7%
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 $13.90M $13.90M
YoY Change 0.0% 32.38%
LONG-TERM LIABILITIES
Long-Term Debt $810.0M $807.9M
YoY Change 0.26% 12.07%
Other Long-Term Liabilities $9.200M $10.20M
YoY Change -9.8% 2.0%
Total Long-Term Liabilities $819.2M $818.1M
YoY Change 0.13% 11.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.90M $13.90M
Total Long-Term Liabilities $819.2M $818.1M
Total Liabilities $833.2M $923.4M
YoY Change -9.77% 9.06%
SHAREHOLDERS EQUITY
Retained Earnings -$15.23M
YoY Change
Common Stock $178.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $76.79M $39.70M
YoY Change
Total Liabilities & Shareholders Equity $1.023B $963.1M
YoY Change 6.26% 7.92%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$1.569M -$2.537M
YoY Change -38.16% 90.75%
Depreciation, Depletion And Amortization $4.480M $4.530M
YoY Change -1.1% 19.84%
Cash From Operating Activities $3.690M $260.0K
YoY Change 1319.23% -105.99%
INVESTING ACTIVITIES
Capital Expenditures $6.374M -$4.450M
YoY Change -243.24% 202.72%
Acquisitions
YoY Change
Other Investing Activities -$5.990M -$15.00M
YoY Change -60.07%
Cash From Investing Activities -$11.51M -$19.45M
YoY Change -40.82% 1223.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.900M -2.770M
YoY Change 113.0% -102.36%
NET CHANGE
Cash From Operating Activities 3.690M 260.0K
Cash From Investing Activities -11.51M -19.45M
Cash From Financing Activities -5.900M -2.770M
Net Change In Cash -13.72M -21.96M
YoY Change -37.52% -119.72%
FREE CASH FLOW
Cash From Operating Activities $3.690M $260.0K
Capital Expenditures $6.374M -$4.450M
Free Cash Flow -$2.684M $4.710M
YoY Change -156.99% -264.11%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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AccumulatedAmortizationOfDeferredCostsAndIntangibleAssets
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CY2016Q4 clpr Accumulated Amortization Of Deferred Costs And Intangible Assets
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clpr Amortization Of Deferred Costs And Intangible Assets
AmortizationOfDeferredCostsAndIntangibleAssets
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clpr Amortization Of Deferred Costs And Intangible Assets
AmortizationOfDeferredCostsAndIntangibleAssets
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CY2017Q3 clpr Amortization Of Lease Origination Costs And In Place Lease Intangible Assets
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CY2016Q3 clpr Amortization Of Lease Origination Costs And In Place Lease Intangible Assets
AmortizationOfLeaseOriginationCostsAndInPlaceLeaseIntangibleAssets
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clpr Amortization Of Lease Origination Costs And In Place Lease Intangible Assets
AmortizationOfLeaseOriginationCostsAndInPlaceLeaseIntangibleAssets
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clpr Amortization Of Lease Origination Costs And In Place Lease Intangible Assets
AmortizationOfLeaseOriginationCostsAndInPlaceLeaseIntangibleAssets
801000
CY2017Q3 clpr Amortization Of Real Estate Abatements
AmortizationOfRealEstateAbatements
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AmortizationOfRealEstateAbatements
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clpr Amortization Of Real Estate Abatements
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clpr Amortization Of Real Estate Abatements
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CommercialIncome
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CommercialIncome
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clpr Commercial Income
CommercialIncome
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CY2017Q3 clpr Deferred Costs And Intangible Assets Amortization Expense Year Three
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CY2017Q3 clpr Garage And Other Income
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clpr Garage And Other Income
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CY2016Q3 clpr Net Income Loss After Participating Securities Portion Available To Common Stockholders Basic
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clpr Net Income Loss After Participating Securities Portion Available To Common Stockholders Basic
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clpr Other Significant Noncash Transaction Items Capitalized To Real Estate Under Development
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clpr Proceeds From Sale Of Common And Preferred Stock
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
82349000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-109816000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-130833000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8019000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5253000
CY2017Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-938000
CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1769000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-2736000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-6457000
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-631000
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-772000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1750000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2814000
CY2017Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
810044000
CY2016Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
754459000
CY2017Q3 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
5522000
CY2016Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
6862000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
7356000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
7349000
us-gaap Operating Income Loss
OperatingIncomeLoss
22030000
us-gaap Operating Income Loss
OperatingIncomeLoss
19489000
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
83423000
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
4749000
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
10247000
CY2016Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
22551000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
71092000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
63248000
CY2017Q3 us-gaap Other Liabilities
OtherLiabilities
3671000
CY2016Q4 us-gaap Other Liabilities
OtherLiabilities
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us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
8126000
us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
15000000
CY2017Q2 us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
145000
us-gaap Payments Of Dividends
PaymentsOfDividends
12310000
us-gaap Payments Of Dividends
PaymentsOfDividends
7457000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
4013000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
3770000
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
87586000
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
102845000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
14104000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
12988000
CY2017Q3 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
6374000
CY2016Q3 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
4449000
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.125
CY2016 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.125
CY2017Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
CY2016Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
4000
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
8000
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
11000
CY2017Q3 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
137500000
CY2016Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
137500000
CY2017Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
132
CY2017Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
132
CY2017Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
15201000
CY2016Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
11216000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
59347000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
149500000
us-gaap Proceeds From Repurchase Of Redeemable Preferred Stock
ProceedsFromRepurchaseOfRedeemablePreferredStock
-145000
us-gaap Proceeds From Repurchase Of Redeemable Preferred Stock
ProceedsFromRepurchaseOfRedeemablePreferredStock
132000
us-gaap Profit Loss
ProfitLoss
-4478000
CY2017Q3 us-gaap Profit Loss
ProfitLoss
-1569000
CY2017Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
26008000
CY2016Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
24836000
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
76629000
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
68767000
CY2017Q3 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
5536000
CY2016Q3 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
4883000
CY2016Q3 us-gaap Profit Loss
ProfitLoss
-2537000
us-gaap Profit Loss
ProfitLoss
-9260000
CY2017Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
69570000
CY2016Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
58174000
CY2017Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
984350000
CY2016Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
881251000
CY2017Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
914780000
CY2016Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
823077000
us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
15005000
us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
13023000
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
-237000
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
60000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2545000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
55530000
CY2017Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
17799000
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
11105000
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-15232000
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-8584000
CY2017Q3 us-gaap Security Deposit Liability
SecurityDepositLiability
6501000
CY2016Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
6248000
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
76787000
us-gaap Share Based Compensation
ShareBasedCompensation
2268000
us-gaap Share Based Compensation
ShareBasedCompensation
1891000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
78685000
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
38201000
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
126216000
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
190236000
CY2017Q3 us-gaap Tenant Improvements
TenantImprovements
3003000
CY2016Q4 us-gaap Tenant Improvements
TenantImprovements
2986000
CY2017Q3 us-gaap Tenant Reimbursements
TenantReimbursements
1162000
CY2016Q3 us-gaap Tenant Reimbursements
TenantReimbursements
1086000
us-gaap Tenant Reimbursements
TenantReimbursements
3223000
us-gaap Tenant Reimbursements
TenantReimbursements
2969000
CY2017Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-62000
CY2016Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-32000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-167000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-87000
us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Use of Estimates</div></div> <div style=" font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:20pt;">The preparation of financial statements in conformity <div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from these estimates.</div></div></div></div></div></div>
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
17813000
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
11423000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16756000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
11423000

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