2015 Q2 Form 10-Q Financial Statement

#000162828015006098 Filed on August 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $164.8M $155.2M
YoY Change 6.19% 160.48%
Cost Of Revenue $68.70M $73.30M
YoY Change -6.28% 175.56%
Gross Profit $96.10M $81.90M
YoY Change 17.34% 148.18%
Gross Profit Margin 58.32% 52.78%
Selling, General & Admin $9.113M $9.560M
YoY Change -4.68% 16.59%
% of Gross Profit 9.48% 11.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.60M $28.70M
YoY Change 37.98% 91.33%
% of Gross Profit 41.21% 35.04%
Operating Expenses $119.7M $112.6M
YoY Change 6.31% 428.77%
Operating Profit $45.04M $42.54M
YoY Change 5.88% 263.58%
Interest Expense $17.57M $14.63M
YoY Change 20.11% -315.13%
% of Operating Profit 39.01% 34.39%
Other Income/Expense, Net
YoY Change
Pretax Income $27.47M $27.91M
YoY Change -1.58% 469.59%
Income Tax $883.0K $2.629M
% Of Pretax Income 3.21% 9.42%
Net Earnings $11.12M $9.834M
YoY Change 13.08% 220.22%
Net Earnings / Revenue 6.75% 6.34%
Basic Earnings Per Share $0.10 $0.10
Diluted Earnings Per Share $0.10 $0.10
COMMON SHARES
Basic Shares Outstanding 112.9M shares 95.47M shares
Diluted Shares Outstanding 265.9M shares 244.4M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $34.20M $41.80M
YoY Change -18.18% -48.07%
Cash & Equivalents $34.22M $41.79M
Short-Term Investments
Other Short-Term Assets $47.90M $39.70M
YoY Change 20.65% 205.38%
Inventory
Prepaid Expenses
Receivables $16.40M $26.20M
Other Receivables $111.9M $85.90M
Total Short-Term Assets $210.4M $193.6M
YoY Change 8.68% 26.12%
LONG-TERM ASSETS
Property, Plant & Equipment $1.782B $1.370B
YoY Change 30.04% 91.9%
Goodwill $491.5M $491.5M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $422.6M $132.5M
YoY Change 218.94% 2.63%
Total Long-Term Assets $3.084B $2.283B
YoY Change 35.06% 142.8%
TOTAL ASSETS
Total Short-Term Assets $210.4M $193.6M
Total Long-Term Assets $3.084B $2.283B
Total Assets $3.294B $2.477B
YoY Change 33.0% 126.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.800M $2.000M
YoY Change 290.0% -93.44%
Accrued Expenses $6.100M $4.100M
YoY Change 48.78% 24.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $60.20M $40.30M
YoY Change 49.38% -43.48%
LONG-TERM LIABILITIES
Long-Term Debt $1.633B $1.229B
YoY Change 32.92% 19.81%
Other Long-Term Liabilities $140.0M $138.9M
YoY Change 0.79% 3287.8%
Total Long-Term Liabilities $1.773B $1.368B
YoY Change 29.65% 32.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $60.20M $40.30M
Total Long-Term Liabilities $1.773B $1.368B
Total Liabilities $1.921B $1.477B
YoY Change 30.11% 31.49%
SHAREHOLDERS EQUITY
Retained Earnings $55.90M $65.60M
YoY Change -14.78%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $492.7M $383.4M
YoY Change
Total Liabilities & Shareholders Equity $3.294B $2.477B
YoY Change 33.0% 126.42%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $11.12M $9.834M
YoY Change 13.08% 220.22%
Depreciation, Depletion And Amortization $39.60M $28.70M
YoY Change 37.98% 91.33%
Cash From Operating Activities $29.70M $22.20M
YoY Change 33.78% 1750.0%
INVESTING ACTIVITIES
Capital Expenditures -$34.40M -$30.30M
YoY Change 13.53% 52.26%
Acquisitions
YoY Change
Other Investing Activities -$800.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$35.10M -$30.30M
YoY Change 15.84% 47.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.100M 5.100M
YoY Change -39.22% -191.07%
NET CHANGE
Cash From Operating Activities 29.70M 22.20M
Cash From Investing Activities -35.10M -30.30M
Cash From Financing Activities 3.100M 5.100M
Net Change In Cash -2.300M -3.000M
YoY Change -23.33% -88.0%
FREE CASH FLOW
Cash From Operating Activities $29.70M $22.20M
Capital Expenditures -$34.40M -$30.30M
Free Cash Flow $64.10M $52.50M
YoY Change 22.1% 148.82%

Facts In Submission

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us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Accounting Estimates </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the condensed consolidated financial statements in accordance with GAAP requires management to use estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Significant items subject to such estimates and assumptions include allocation of the purchase price of acquired real estate properties among tangible and intangible assets, determination of the useful life of real estate properties and other long-lived assets, valuation and impairment analysis of commercial real estate properties and other long-lived assets, estimate of percentage of completion on construction contracts, valuation of the allowance for doubtful accounts, and valuation of exchangeable senior unsecured notes and equity based compensation. These estimates are prepared using management&#8217;s best judgment, after considering past, current, and expected events and economic conditions. Actual results could differ from those estimates. </font></div></div>

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