2015 Q1 Form 10-Q Financial Statement

#000002523215000015 Filed on May 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1 2013 Q4
Revenue $91.98M $81.72M $74.60M
YoY Change 12.55% 113.59% 135.33%
Cost Of Revenue $38.30M $35.40M $35.80M
YoY Change 8.19% 111.98% 165.19%
Gross Profit $53.70M $46.40M $38.80M
YoY Change 15.73% 114.81% 113.19%
Gross Profit Margin 58.38% 56.78% 52.01%
Selling, General & Admin $4.600M $6.500M $5.500M
YoY Change -29.23% -18.75% -27.63%
% of Gross Profit 8.57% 14.01% 14.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $36.15M $34.14M $30.50M
YoY Change 5.88% 203.57% 169.91%
% of Gross Profit 67.31% 73.58% 78.61%
Operating Expenses $40.70M $40.60M $35.50M
YoY Change 0.25% 111.46% 112.57%
Operating Profit $58.05M $5.800M $3.300M
YoY Change 900.91% 141.67% 120.0%
Interest Expense $7.677M $7.167M -$7.400M
YoY Change 7.12% 45.23% 23.33%
% of Operating Profit 13.22% 123.57% -224.24%
Other Income/Expense, Net $440.0K
YoY Change
Pretax Income $5.052M -$1.584M -$4.300M
YoY Change -418.94% -43.37% 72.0%
Income Tax $0.00 -$12.00K $0.00
% Of Pretax Income 0.0%
Net Earnings $7.203M $6.977M $1.900M
YoY Change 3.24% -87.63% -94.29%
Net Earnings / Revenue 7.83% 8.54% 2.55%
Basic Earnings Per Share
Diluted Earnings Per Share $132.8K $142.3K $40.00K
COMMON SHARES
Basic Shares Outstanding 216.6M shares 191.7M shares 189.7M shares
Diluted Shares Outstanding 216.8M shares 192.0M shares

Balance Sheet

Concept 2015 Q1 2014 Q1 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.400M $29.10M $1.000M
YoY Change -84.88% 385.0% -99.43%
Cash & Equivalents $4.388M $29.08M $975.0K
Short-Term Investments
Other Short-Term Assets $7.700M $6.800M
YoY Change 13.24% 51.11%
Inventory $11.50M $24.60M
Prepaid Expenses
Receivables $12.10M $11.50M $11.80M
Other Receivables $64.20M $46.90M $39.90M
Total Short-Term Assets $88.40M $105.8M $77.30M
YoY Change -16.45% 102.29% -66.13%
LONG-TERM ASSETS
Property, Plant & Equipment $2.315B $1.901B $1.885B
YoY Change 21.74% 140.63% 155.72%
Goodwill $3.867M $4.100M $3.867M
YoY Change -5.68% -1.13% -18.61%
Intangibles
YoY Change
Long-Term Investments $100.8M $107.1M $107.1M
YoY Change -5.87% -16.68% 9.41%
Other Assets $21.60M $16.90M $2.800M
YoY Change 27.81% -289.89% -3.45%
Total Long-Term Assets $2.596B $2.188B $2.196B
YoY Change 18.65% 109.57% 145.07%
TOTAL ASSETS
Total Short-Term Assets $88.40M $105.8M $77.30M
Total Long-Term Assets $2.596B $2.188B $2.196B
Total Assets $2.685B $2.294B $2.273B
YoY Change 17.03% 109.22% 102.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $51.10M $55.50M $76.70M
YoY Change -7.93% 106.32% 120.4%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $51.10M $55.50M $76.70M
YoY Change -7.93% 106.32% 120.4%
LONG-TERM LIABILITIES
Long-Term Debt $847.9M $587.4M $630.1M
YoY Change 44.35% 70.36% 48.12%
Other Long-Term Liabilities $122.7M $102.9M $107.5M
YoY Change 19.24% 202.65% 409.48%
Total Long-Term Liabilities $970.6M $690.3M $737.6M
YoY Change 40.61% 82.23% 65.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $51.10M $55.50M $76.70M
Total Long-Term Liabilities $970.6M $690.3M $737.6M
Total Liabilities $1.022B $745.9M $814.2M
YoY Change 36.99% 83.8% 69.18%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.941B $1.712B $1.614B
YoY Change 13.33% 114.89% 102.36%
Preferred Stock
YoY Change
Treasury Stock (at cost) $86.84M $86.84M $86.84M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 3.570M shares 3.570M shares
Shareholders Equity $1.663B $1.547B $1.457B
YoY Change
Total Liabilities & Shareholders Equity $2.685B $2.294B $2.273B
YoY Change 17.03% 109.22% 102.2%

Cashflow Statement

Concept 2015 Q1 2014 Q1 2013 Q4
OPERATING ACTIVITIES
Net Income $7.203M $6.977M $1.900M
YoY Change 3.24% -87.63% -94.29%
Depreciation, Depletion And Amortization $36.15M $34.14M $30.50M
YoY Change 5.88% 203.57% 169.91%
Cash From Operating Activities $2.439M $7.007M $38.60M
YoY Change -65.19% 295.88% -10.02%
INVESTING ACTIVITIES
Capital Expenditures -$37.80M -$36.70M -$24.30M
YoY Change 3.0% -87.59% 120.91%
Acquisitions
YoY Change
Other Investing Activities $423.0K $993.0K $4.500M
YoY Change -57.4% -18.67% -98.23%
Cash From Investing Activities -$36.29M -$18.63M -$19.80M
YoY Change 94.77% -87.17% -108.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $98.50M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $38.24M $39.73M -23.40M
YoY Change -3.75% -245.11% -79.6%
NET CHANGE
Cash From Operating Activities $2.439M $7.007M 38.60M
Cash From Investing Activities -$36.29M -$18.63M -19.80M
Cash From Financing Activities $38.24M $39.73M -23.40M
Net Change In Cash $4.388M $28.11M -4.600M
YoY Change -84.39% -116.45% -102.68%
FREE CASH FLOW
Cash From Operating Activities $2.439M $7.007M $38.60M
Capital Expenditures -$37.80M -$36.70M -$24.30M
Free Cash Flow $40.24M $43.71M $62.90M
YoY Change -7.93% -85.31% 16.7%

Facts In Submission

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87595000 USD
CY2014Q1 us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
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161000 USD
CY2015Q1 us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
1105000 USD
CY2013Q4 us-gaap Goodwill
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4131000 USD
CY2014Q1 us-gaap Goodwill
Goodwill
4100000 USD
CY2014Q4 us-gaap Goodwill
Goodwill
3867000 USD
CY2015Q1 us-gaap Goodwill
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3867000 USD
CY2014Q4 us-gaap Incentive To Lessee
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12245000 USD
CY2015Q1 us-gaap Incentive To Lessee
IncentiveToLessee
14470000 USD
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-1584000 USD
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
5052000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-125000 USD
CY2015Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
7768000 USD
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IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.01
CY2015Q1 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.04
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
7257000 USD
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-565000 USD
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.04
CY2015Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
-0.01
CY2014Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1286000 USD
CY2015Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1611000 USD
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-12000 USD
CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2014Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-17042000 USD
CY2015Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-23616000 USD
CY2014Q1 us-gaap Increase Decrease In Other Operating Assets
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3024000 USD
CY2015Q1 us-gaap Increase Decrease In Other Operating Assets
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7447000 USD
CY2014Q1 us-gaap Increase Decrease In Restricted Cash
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668000 USD
CY2015Q1 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-6000 USD
CY2014Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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213000 shares
CY2015Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
186000 shares
CY2014Q4 us-gaap Intangible Assets Net Including Goodwill
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163244000 USD
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152719000 USD
CY2014Q1 us-gaap Interest Costs Incurred
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7540000 USD
CY2015Q1 us-gaap Interest Costs Incurred
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8580000 USD
CY2014Q1 us-gaap Interest Costs Incurred Capitalized
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-373000 USD
CY2015Q1 us-gaap Interest Costs Incurred Capitalized
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-903000 USD
CY2014Q1 us-gaap Interest Expense
InterestExpense
7167000 USD
CY2015Q1 us-gaap Interest Expense
InterestExpense
7677000 USD
CY2014Q1 us-gaap Interest Paid Net
InterestPaidNet
7186000 USD
CY2015Q1 us-gaap Interest Paid Net
InterestPaidNet
7695000 USD
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993872000 USD
CY2015Q1 us-gaap Liabilities
Liabilities
1021726000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
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2667330000 USD
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2684661000 USD
CY2014Q4 us-gaap Long Term Debt
LongTermDebt
792344000 USD
CY2015Q1 us-gaap Long Term Debt
LongTermDebt
847948000 USD
CY2014Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
153000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
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39731000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
38241000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-18633000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-36292000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7007000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2439000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
6977000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
7203000 USD
CY2014Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
155000 USD
CY2015Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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5200000 USD
CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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7203000 USD
CY2014Q1 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
7132000 USD
CY2015Q1 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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7203000 USD
CY2015Q1 us-gaap Number Of Reportable Segments
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4
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146400000 USD
CY2014Q4 us-gaap Other Assets
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34930000 USD
CY2015Q1 us-gaap Other Assets
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42652000 USD
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5611000 USD
CY2015Q1 us-gaap Other General And Administrative Expense
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3493000 USD
CY2014Q4 us-gaap Other Liabilities
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31991000 USD
CY2015Q1 us-gaap Other Liabilities
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32541000 USD
CY2014Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
494000 USD
CY2015Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
357000 USD
CY2014Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
993000 USD
CY2015Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
423000 USD
CY2014Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
14231000 USD
CY2015Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
17349000 USD
CY2014Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
1777000 USD
CY2015Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0 USD
CY2014Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
2659000 USD
CY2015Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
425000 USD
CY2014Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
153000 USD
CY2015Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
CY2013 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0
CY2013Q4 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
0
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
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3428000 USD
CY2015Q1 us-gaap Prepaid Expense And Other Assets Current
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7724000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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19970000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
1314000 USD
CY2014Q1 us-gaap Proceeds From Unsecured Lines Of Credit
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82525000 USD
CY2015Q1 us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
94100000 USD
CY2014Q1 us-gaap Profit Loss
ProfitLoss
7132000 USD
CY2015Q1 us-gaap Profit Loss
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7203000 USD
CY2013Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
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324543000 USD
CY2014Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
348142000 USD
CY2014Q4 us-gaap Real Estate Investment Property Net
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2294945000 USD
CY2015Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2303038000 USD
CY2014Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
77484000 USD
CY2015Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
90033000 USD
CY2014Q4 us-gaap Rental Properties
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2181684000 USD
CY2015Q1 us-gaap Rental Properties
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2271966000 USD
CY2014Q1 us-gaap Repayments Of Lines Of Credit
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122600000 USD
CY2015Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
36300000 USD
CY2014Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2577000 USD
CY2015Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2196000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents
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5042000 USD
CY2015Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4773000 USD
CY2014Q1 us-gaap Revenues
Revenues
81723000 USD
CY2015Q1 us-gaap Revenues
Revenues
91976000 USD
CY2014Q1 us-gaap Severance Costs1
SeveranceCosts1
84000 USD
CY2015Q1 us-gaap Severance Costs1
SeveranceCosts1
102000 USD
CY2014Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
98564000 USD
CY2014Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
-916000 USD
CY2015Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
-838000 USD
CY2014Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
-20000 USD
CY2015Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
-14000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1458972000 USD
CY2014Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1548158000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1673458000 USD
CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1662935000 USD
CY2014Q1 us-gaap Straight Line Rent
StraightLineRent
9074000 USD
CY2015Q1 us-gaap Straight Line Rent
StraightLineRent
8929000 USD
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
3570082 shares
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
3570082 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
86840000 USD
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
86840000 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
191952000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
216754000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
191739000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
216568000 shares

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