$CLPR
Clipper Realty Inc.

2018 Q3 Form 10-Q Financial Statement

#000143774918019288 Filed on November 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $27.95M $26.01M
YoY Change 7.46% 4.72%
Cost Of Revenue $18.84M $18.65M
YoY Change 1.0% 6.66%
Gross Profit $9.109M $7.356M
YoY Change 23.83% 0.1%
Gross Profit Margin 32.59% 28.28%
Selling, General & Admin $1.860M $8.040M
YoY Change -76.87% 10.44%
% of Gross Profit 20.42% 109.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.470M $4.480M
YoY Change -0.22% -1.1%
% of Gross Profit 49.07% 60.9%
Operating Expenses $9.109M $7.356M
YoY Change 23.83% -34.84%
Operating Profit $9.109M $7.356M
YoY Change 23.83% 0.1%
Interest Expense $8.052M $8.925M
YoY Change -9.78% -9.72%
% of Operating Profit 88.4% 121.33%
Other Income/Expense, Net
YoY Change
Pretax Income $1.250M -$1.570M
YoY Change -179.62% -38.19%
Income Tax
% Of Pretax Income
Net Earnings $1.251M -$1.569M
YoY Change -179.73% -38.16%
Net Earnings / Revenue 4.48% -6.03%
Basic Earnings Per Share $505.00 -$631.00
Diluted Earnings Per Share $0.02 -$0.04
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.40M $54.80M
YoY Change -77.37% -33.25%
Cash & Equivalents $12.37M $54.77M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $3.300M $5.200M
Other Receivables $0.00 $0.00
Total Short-Term Assets $15.70M $60.00M
YoY Change -73.83% -30.23%
LONG-TERM ASSETS
Property, Plant & Equipment $1.017B $914.8M
YoY Change 11.18% 11.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $25.30M $36.40M
YoY Change -30.49% -7.61%
Total Long-Term Assets $1.052B $963.4M
YoY Change 9.19% 9.84%
TOTAL ASSETS
Total Short-Term Assets $15.70M $60.00M
Total Long-Term Assets $1.052B $963.4M
Total Assets $1.068B $1.023B
YoY Change 4.33% 6.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.70M $7.400M
YoY Change 85.14% -2.63%
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 $20.50M $13.90M
YoY Change 47.48% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $873.1M $810.0M
YoY Change 7.79% 0.26%
Other Long-Term Liabilities $7.000M $9.200M
YoY Change -23.91% -9.8%
Total Long-Term Liabilities $880.1M $819.2M
YoY Change 7.43% 0.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.50M $13.90M
Total Long-Term Liabilities $880.1M $819.2M
Total Liabilities $900.6M $833.2M
YoY Change 8.1% -9.77%
SHAREHOLDERS EQUITY
Retained Earnings -$25.62M -$15.23M
YoY Change 68.17%
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 $67.43M $76.79M
YoY Change
Total Liabilities & Shareholders Equity $1.068B $1.023B
YoY Change 4.33% 6.26%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $1.251M -$1.569M
YoY Change -179.73% -38.16%
Depreciation, Depletion And Amortization $4.470M $4.480M
YoY Change -0.22% -1.1%
Cash From Operating Activities $9.840M $3.690M
YoY Change 166.67% 1319.23%
INVESTING ACTIVITIES
Capital Expenditures $10.05M $6.374M
YoY Change 57.72% -243.24%
Acquisitions
YoY Change
Other Investing Activities $220.0K -$5.990M
YoY Change -103.67% -60.07%
Cash From Investing Activities -$8.980M -$11.51M
YoY Change -21.98% -40.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.290M -5.900M
YoY Change -27.29% 113.0%
NET CHANGE
Cash From Operating Activities 9.840M 3.690M
Cash From Investing Activities -8.980M -11.51M
Cash From Financing Activities -4.290M -5.900M
Net Change In Cash -3.430M -13.72M
YoY Change -75.0% -37.52%
FREE CASH FLOW
Cash From Operating Activities $9.840M $3.690M
Capital Expenditures $10.05M $6.374M
Free Cash Flow -$213.0K -$2.684M
YoY Change -92.06% -156.99%

Facts In Submission

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CY2018Q3 us-gaap Land And Land Improvements
LandAndLandImprovements
497343000
CY2017Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
497343000
CY2018Q3 us-gaap Liabilities
Liabilities
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CY2017Q4 us-gaap Liabilities
Liabilities
866494000
CY2018Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1067670000
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1052085000
CY2018Q3 us-gaap Long Term Debt
LongTermDebt
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CY2017Q4 us-gaap Long Term Debt
LongTermDebt
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CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
790493000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
9770000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
9422000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
69524000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3763000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
717000
CY2018Q3 us-gaap Minority Interest
MinorityInterest
99617000
CY2017Q4 us-gaap Minority Interest
MinorityInterest
110679000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7452000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
119019000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-27844000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-109816000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
24824000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8019000
CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
746000
CY2017Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-938000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-4434000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-2736000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
505000
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-631000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3001000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1750000
CY2018Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
873110000
CY2017Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
843946000
CY2018Q3 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
3461000
CY2017Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
5075000
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
9109000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
7356000
us-gaap Operating Income Loss
OperatingIncomeLoss
23955000
us-gaap Operating Income Loss
OperatingIncomeLoss
22030000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
54841000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
4260000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
4695000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
10316000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
17335000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
5555000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
12680000
CY2018Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
25557000
CY2017Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
24034000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
75277000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
71092000
CY2018Q3 us-gaap Other Liabilities
OtherLiabilities
3512000
CY2017Q4 us-gaap Other Liabilities
OtherLiabilities
2830000
us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
8126000
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
145000
us-gaap Payments Of Dividends
PaymentsOfDividends
12776000
us-gaap Payments Of Dividends
PaymentsOfDividends
12310000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
8338000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
4013000
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
87586000
CY2018Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10053000
CY2017Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6374000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
32563000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
15513000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
28455000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
14104000
CY2018Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
CY2017Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
8000
CY2018Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
385000
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
609439000
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
9179000
CY2017Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
11546000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
59347000
us-gaap Profit Loss
ProfitLoss
-7435000
CY2018Q3 us-gaap Profit Loss
ProfitLoss
1251000
CY2017Q3 us-gaap Profit Loss
ProfitLoss
-1569000
us-gaap Profit Loss
ProfitLoss
-4478000
CY2018Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
86027000
CY2017Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
73714000
CY2018Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1103120000
CY2017Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1070606000
CY2018Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1017093000
CY2017Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
996892000
CY2018Q3 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
5824000
CY2017Q3 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
5536000
us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
16534000
us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
15005000
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
-771000
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
-237000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
580866000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2545000
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
12713000
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
13730000
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-25616000
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-17539000
CY2018Q3 us-gaap Revenues
Revenues
27948000
CY2017Q3 us-gaap Revenues
Revenues
26008000
us-gaap Revenues
Revenues
82116000
us-gaap Revenues
Revenues
76629000
CY2018Q3 us-gaap Security Deposit Liability
SecurityDepositLiability
6831000
CY2017Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
6048000
us-gaap Share Based Compensation
ShareBasedCompensation
1670000
us-gaap Share Based Compensation
ShareBasedCompensation
2268000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-7000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
67426000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
74912000
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
185591000
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
167043000
CY2018Q3 us-gaap Tenant Improvements
TenantImprovements
3040000
CY2017Q4 us-gaap Tenant Improvements
TenantImprovements
3023000
CY2018Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-69000
CY2017Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-62000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-200000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-167000
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="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></div></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
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
17813000
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
17813000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
17813000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16756000
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
6981000
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost

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