$CLPR
Clipper Realty Inc

2018 Q1 Form 10-Q Financial Statement

#000143774918009437 Filed on May 10, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $26.87M $25.26M
YoY Change 6.35% 16.28%
Cost Of Revenue $20.34M $17.91M
YoY Change 13.56% 13.92%
Gross Profit $6.530M $7.354M
YoY Change -11.2% 22.46%
Gross Profit Margin 24.3% 29.11%
Selling, General & Admin $3.140M $6.850M
YoY Change -54.16% 16.5%
% of Gross Profit 48.09% 93.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.043M $3.705M
YoY Change 9.12% 20.57%
% of Gross Profit 61.91% 50.38%
Operating Expenses $6.530M $7.354M
YoY Change -11.2% -19.8%
Operating Profit $6.530M $7.354M
YoY Change -11.2% 22.46%
Interest Expense $8.543M $8.652M
YoY Change -1.26% -6.07%
% of Operating Profit 130.83% 117.65%
Other Income/Expense, Net
YoY Change
Pretax Income -$8.990M -$1.300M
YoY Change 591.54% -59.5%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$8.994M -$1.298M
YoY Change 592.91% -59.51%
Net Earnings / Revenue -33.47% -5.14%
Basic Earnings Per Share -$3.630K -$469.00
Diluted Earnings Per Share -$0.21 -$0.03
COMMON SHARES
Basic Shares Outstanding 17.81M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.10M $105.2M
YoY Change -77.09%
Cash & Equivalents $24.07M $105.2M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $3.500M $5.400M
Other Receivables $0.00 $0.00
Total Short-Term Assets $27.60M $110.6M
YoY Change -75.05%
LONG-TERM ASSETS
Property, Plant & Equipment $1.005B $822.5M
YoY Change 22.24%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $24.60M $34.50M
YoY Change -28.7%
Total Long-Term Assets $1.041B $870.7M
YoY Change 19.57%
TOTAL ASSETS
Total Short-Term Assets $27.60M $110.6M
Total Long-Term Assets $1.041B $870.7M
Total Assets $1.069B $981.3M
YoY Change 8.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.900M $6.500M
YoY Change 52.31%
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 $16.30M $12.90M
YoY Change 26.36%
LONG-TERM LIABILITIES
Long-Term Debt $871.3M $754.8M
YoY Change 15.43%
Other Long-Term Liabilities $8.100M $13.00M
YoY Change -37.69%
Total Long-Term Liabilities $879.4M $767.8M
YoY Change 14.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.30M $12.90M
Total Long-Term Liabilities $879.4M $767.8M
Total Liabilities $895.8M $780.7M
YoY Change 14.74%
SHAREHOLDERS EQUITY
Retained Earnings -$22.86M -$10.57M
YoY Change 116.36%
Common Stock $178.0K $178.0K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $69.79M $80.96M
YoY Change
Total Liabilities & Shareholders Equity $1.069B $981.3M
YoY Change 8.91%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$8.994M -$1.298M
YoY Change 592.91% -59.51%
Depreciation, Depletion And Amortization $4.043M $3.705M
YoY Change 9.12% 20.57%
Cash From Operating Activities $10.81M $1.151M
YoY Change 839.36% 16.26%
INVESTING ACTIVITIES
Capital Expenditures $12.57M $3.102M
YoY Change 305.19% -137.11%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$10.11M -$11.96M
YoY Change -15.47% 43.09%
FINANCING ACTIVITIES
Cash Dividend Paid $4.254M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.29M 78.48M
YoY Change -80.51% -3129.92%
NET CHANGE
Cash From Operating Activities 10.81M 1.151M
Cash From Investing Activities -10.11M -11.96M
Cash From Financing Activities 15.29M 78.48M
Net Change In Cash 15.99M 67.66M
YoY Change -76.37% -779.36%
FREE CASH FLOW
Cash From Operating Activities $10.81M $1.151M
Capital Expenditures $12.57M $3.102M
Free Cash Flow -$1.757M -$1.951M
YoY Change -9.94% -120.87%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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10112000
CY2017Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
3102000
CY2018Q1 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
CY2017Q1 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
4000
CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-833000
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3630000
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-469000
CY2018Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
871320000
CY2017Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
843946000
CY2018Q1 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
4537000
CY2017Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
5075000
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
6530000
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
7354000
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
65952000
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
4260000
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
4695000
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
10316000
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
17335000
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
16666000
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
12680000
CY2018Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
24675000
CY2017Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
23508000
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000
CY2018Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
7652000
CY2017Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
11546000
CY2018Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
607120000
CY2017Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
CY2018Q1 us-gaap Profit Loss
ProfitLoss
-8994000
CY2017Q1 us-gaap Profit Loss
ProfitLoss
-1298000
CY2018Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
77757000
CY2017Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
73714000
CY2018Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1083175000
CY2017Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1070606000
CY2018Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1005418000
CY2017Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
996892000
CY2018Q1 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
5348000
CY2017Q1 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
4652000
CY2018Q1 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
-256000
CY2017Q1 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
-77000
CY2018Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
579231000
CY2017Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
245000
CY2018Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
13591000
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
13730000
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-22861000
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-17539000
CY2018Q1 us-gaap Revenues
Revenues
26868000
CY2017Q1 us-gaap Revenues
Revenues
25263000
CY2018Q1 us-gaap Security Deposit Liability
SecurityDepositLiability
6437000
CY2017Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
6048000
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
568000
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
595000
CY2018Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-6000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
69792000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
74912000
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
185591000
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
172905000
CY2018Q1 us-gaap Tenant Improvements
TenantImprovements
3028000
CY2017Q4 us-gaap Tenant Improvements
TenantImprovements
3023000
CY2018Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-62000
CY2017Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-43000
CY2018Q1 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 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 style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"></div></div></div></div></div>
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
17813
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14644
CY2018Q1 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
6981000
CY2017Q1 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost

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