$CTRE
CareTrust REIT Inc

2014 Q3 Form 10-Q Financial Statement

#000119312514389737 Filed on October 30, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q4 2013 Q3
Revenue $15.88M $12.85M $12.56M
YoY Change 26.49%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.030M $4.000M $3.110M
YoY Change -34.73%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.300M $6.000M $6.000M
YoY Change -11.67%
% of Gross Profit
Operating Expenses $13.92M $10.75M $12.77M
YoY Change 9.0%
Operating Profit
YoY Change
Interest Expense $5.943M -$3.310M $3.151M
YoY Change 88.61%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $1.967M -$1.212M -$210.0K
YoY Change -1036.67%
Income Tax $0.00 -$24.00K $63.00K
% Of Pretax Income 0.0%
Net Earnings $1.967M -$1.188M -$273.0K
YoY Change -820.51%
Net Earnings / Revenue 12.38% -9.25% -2.17%
Basic Earnings Per Share $0.09 -$0.05 -$0.01
Diluted Earnings Per Share $0.09 -$0.05 -$0.01
COMMON SHARES
Basic Shares Outstanding 22.26M shares 22.23M shares 22.23M shares
Diluted Shares Outstanding 22.44M shares 22.23M shares 22.23M shares

Balance Sheet

Concept 2014 Q3 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $88.80M
YoY Change
Cash & Equivalents $88.85M $895.0K $831.0K
Short-Term Investments
Other Short-Term Assets $400.0K
YoY Change
Inventory
Prepaid Expenses
Receivables $2.900M
Other Receivables $0.00
Total Short-Term Assets $92.10M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $415.0M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.80M
YoY Change
Total Long-Term Assets $425.8M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $92.10M
Total Long-Term Assets $425.8M
Total Assets $517.9M $430.5M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $108.3M
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $108.3M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $260.0M
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $260.0M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $108.3M
Total Long-Term Liabilities $260.0M
Total Liabilities $368.3M $267.8M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $2.423M
YoY Change
Common Stock $147.2M $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $149.6M $162.7M
YoY Change
Total Liabilities & Shareholders Equity $517.9M $430.5M
YoY Change

Cashflow Statement

Concept 2014 Q3 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income $1.967M -$1.188M -$273.0K
YoY Change -820.51%
Depreciation, Depletion And Amortization $5.300M $6.000M $6.000M
YoY Change -11.67%
Cash From Operating Activities $9.800M $4.700M $8.800M
YoY Change 11.36%
INVESTING ACTIVITIES
Capital Expenditures -$300.0K -$5.300M -$9.500M
YoY Change -96.84%
Acquisitions
YoY Change
Other Investing Activities $0.00 $200.0K $100.0K
YoY Change -100.0%
Cash From Investing Activities -$300.0K -$5.100M -$9.400M
YoY Change -96.81%
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 500.0K 600.0K
YoY Change -266.67%
NET CHANGE
Cash From Operating Activities 9.800M 4.700M 8.800M
Cash From Investing Activities -300.0K -5.100M -9.400M
Cash From Financing Activities -1.000M 500.0K 600.0K
Net Change In Cash 8.500M 100.0K 0.000000001397
YoY Change 608453700266666800.0%
FREE CASH FLOW
Cash From Operating Activities $9.800M $4.700M $8.800M
Capital Expenditures -$300.0K -$5.300M -$9.500M
Free Cash Flow $10.10M $10.00M $18.30M
YoY Change -44.81%

Facts In Submission

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dei Document Type
DocumentType
10-Q
dei Entity Registrant Name
EntityRegistrantName
CareTrust REIT, Inc.
dei Trading Symbol
TradingSymbol
CTRE
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Incorporation Date Of Incorporation
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2013-10-29
us-gaap Dividends Payable Date Declared Day Month And Year
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2014-10-17
us-gaap Fair Value Measurements Valuation Techniques
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The Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach. The Company classifies these inputs as Level 3 inputs.
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us-gaap Concentration Risk Geographic
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us-gaap Dividend Payable Date To Be Paid Day Month And Year
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 13%"> <i>Estimates and Assumptions</i>&#x2014;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 contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</p> </div>
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us-gaap Earnings Per Share Basic
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dei Entity Central Index Key
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dei Document Fiscal Period Focus
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 13%"> <i>Concentration of Credit Risk</i>&#x2014;The Company is subject to concentrations of credit risk consisting primarily of operating leases on our owned properties. See Note&#xA0;8, <i>Concentration of Risk</i>, for a discussion of major operator concentration.</p> </div>
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CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22228000 shares
CY2013Q3 us-gaap Tenant Reimbursements
TenantReimbursements
1260000
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-210000
CY2013Q3 us-gaap Gain Loss On Cash Flow Hedge Ineffectiveness Net
GainLossOnCashFlowHedgeIneffectivenessNet
0
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-328000
CY2013Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
10713000
CY2013Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-55000
CY2013Q3 us-gaap Revenues
Revenues
12558000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
-273000
CY2013Q3 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
585000
CY2013Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4000
CY2013Q3 us-gaap Interest Expense
InterestExpense
3151000
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
12768000
CY2013Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
175000
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
63000
CY2013Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
5968000
CY2013Q3 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
1845000
CY2013Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
30000
CY2013Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
500000
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1845000
CY2013Q3 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
1260000
CY2013Q3 us-gaap Acquisition Costs
AcquisitionCosts
44000
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2014Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
181000 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22436000 shares
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22255000 shares
CY2014Q3 us-gaap Tenant Reimbursements
TenantReimbursements
1228000
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1967000
CY2014Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-1661000
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1967000
CY2014Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
14000000
CY2014Q3 us-gaap Revenues
Revenues
15884000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
1967000
CY2014Q3 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
656000
CY2014Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-4067000
CY2014Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0
CY2014Q3 us-gaap Interest Expense
InterestExpense
5943000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
13917000
CY2014Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
533000
CY2014Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
5362000
CY2014Q3 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
0
CY2014Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0
CY2014Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
586000
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
798000
CY2014Q3 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
1228000
CY2014Q3 ctre Loss On Retirement Of Debt
LossOnRetirementOfDebt
5728000

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