2012 Q4 Form 10-Q Financial Statement

#000119312512462594 Filed on November 09, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $68.58M $40.61M $26.24M
YoY Change 26.98% 54.76% 9.34%
Cost Of Revenue $35.50M $20.00M $13.30M
YoY Change 13.06% 50.38% 51.14%
Gross Profit $33.07M $20.64M $12.93M
YoY Change 46.04% 59.62% -14.95%
Gross Profit Margin 48.23% 50.82% 49.27%
Selling, General & Admin $7.300M $11.30M $2.800M
YoY Change -5.19% 303.57% -41.67%
% of Gross Profit 22.07% 54.76% 21.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.900M $8.100M $2.400M
YoY Change 68.57% 237.5% 26.32%
% of Gross Profit 17.84% 39.25% 18.56%
Operating Expenses $23.40M $26.00M $14.60M
YoY Change 3.08% 78.08% -3.31%
Operating Profit $10.14M $4.843M $60.17M
YoY Change -9076.11% -91.95% 60071.0%
Interest Expense $9.900M $8.094M $4.271M
YoY Change -128.61% 89.51% -218.64%
% of Operating Profit 97.6% 167.13% 7.1%
Other Income/Expense, Net
YoY Change
Pretax Income $20.03M -$1.458M $56.57M
YoY Change -157.65% -102.58% 375.41%
Income Tax $6.700M -$1.078M $19.61M
% Of Pretax Income 33.45% 34.66%
Net Earnings $10.03M -$703.0K $36.43M
YoY Change -143.85% -101.93% 309.3%
Net Earnings / Revenue 14.63% -1.73% 138.82%
Basic Earnings Per Share $0.28 -$0.02 $1.03
Diluted Earnings Per Share $0.28 -$0.02 $1.02
COMMON SHARES
Basic Shares Outstanding 34.69M shares 35.23M shares 35.51M shares
Diluted Shares Outstanding 35.23M shares 35.80M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.40M $10.30M $29.10M
YoY Change -43.17% -64.6% 546.67%
Cash & Equivalents $10.36M $86.65M $29.12M
Short-Term Investments
Other Short-Term Assets $6.500M $3.000M $2.400M
YoY Change 124.14% 25.0% 14.29%
Inventory
Prepaid Expenses
Receivables $33.60M $33.20M $24.40M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $50.50M $46.50M $55.90M
YoY Change 13.48% -16.82% 21.79%
LONG-TERM ASSETS
Property, Plant & Equipment $4.859M $4.777M $612.0M
YoY Change -6.16% -99.22% 7.16%
Goodwill $61.68M
YoY Change 1492.15%
Intangibles $2.188M
YoY Change 38.74%
Long-Term Investments $41.55M $43.04M $98.10M
YoY Change -35.31% -56.13% -7.45%
Other Assets $54.70M $49.60M $58.20M
YoY Change -24.97% -14.78% 38.24%
Total Long-Term Assets $867.9M $843.4M $790.8M
YoY Change 15.67% 6.66% 8.17%
TOTAL ASSETS
Total Short-Term Assets $50.50M $46.50M $55.90M
Total Long-Term Assets $867.9M $843.4M $790.8M
Total Assets $918.4M $889.9M $846.7M
YoY Change 15.55% 5.11% 8.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.30M $29.90M $5.700M
YoY Change 266.0% 424.56% 90.0%
Accrued Expenses $33.70M $25.90M $19.40M
YoY Change 121.71% 33.51% 13.45%
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 $52.60M $57.10M $47.50M
YoY Change 83.28% 20.21% 136.32%
LONG-TERM LIABILITIES
Long-Term Debt $294.1M $276.7M $223.7M
YoY Change 32.72% 23.69% 2.8%
Other Long-Term Liabilities $38.20M $35.00M $30.80M
YoY Change 14.71% 13.64% 9.22%
Total Long-Term Liabilities $332.3M $311.7M $254.5M
YoY Change 30.36% 22.48% 3.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $52.60M $57.10M $47.50M
Total Long-Term Liabilities $332.3M $311.7M $254.5M
Total Liabilities $384.9M $368.7M $304.8M
YoY Change 35.69% 20.96% 12.27%
SHAREHOLDERS EQUITY
Retained Earnings $121.1M $111.1M
YoY Change 11.97%
Common Stock $444.2M $442.6M
YoY Change 2.02%
Preferred Stock
YoY Change
Treasury Stock (at cost) $35.76M $34.73M
YoY Change 5.24%
Treasury Stock Shares 2.328M shares 2.257M shares
Shareholders Equity $529.5M $519.0M $541.9M
YoY Change
Total Liabilities & Shareholders Equity $918.4M $889.9M $846.7M
YoY Change 15.55% 5.11% 8.97%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $10.03M -$703.0K $36.43M
YoY Change -143.85% -101.93% 309.3%
Depreciation, Depletion And Amortization $5.900M $8.100M $2.400M
YoY Change 68.57% 237.5% 26.32%
Cash From Operating Activities -$2.800M -$8.600M $66.70M
YoY Change -139.44% -112.89% 1182.69%
INVESTING ACTIVITIES
Capital Expenditures -$19.80M -$800.0K -$1.900M
YoY Change 1314.29% -57.89% 111.11%
Acquisitions
YoY Change
Other Investing Activities $10.20M -$122.6M $200.0K
YoY Change 466.67% -61400.0% -150.0%
Cash From Investing Activities -$9.500M -$123.4M -$1.600M
YoY Change -4850.0% 7612.5% 14.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 12.50M 96.70M -41.70M
YoY Change -169.06% -331.89% 644.64%
NET CHANGE
Cash From Operating Activities -2.800M -8.600M 66.70M
Cash From Investing Activities -9.500M -123.4M -1.600M
Cash From Financing Activities 12.50M 96.70M -41.70M
Net Change In Cash 200.0K -35.30M 23.40M
YoY Change -101.85% -250.85% -1400.0%
FREE CASH FLOW
Cash From Operating Activities -$2.800M -$8.600M $66.70M
Capital Expenditures -$19.80M -$800.0K -$1.900M
Free Cash Flow $17.00M -$7.800M $68.60M
YoY Change 100.0% -111.37% 1024.59%

Facts In Submission

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dei Document Type
DocumentType
10-Q
dei Document Period End Date
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dei Trading Symbol
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FORESTAR GROUP INC.
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CY2011Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19609000
CY2011Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
19060000
CY2011Q3 us-gaap Timber Operating Costs
TimberOperatingCosts
349000
CY2011Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
537000
CY2011Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
463000
CY2011Q3 us-gaap Sales Revenue Net
SalesRevenueNet
26241000
CY2011Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
648000
CY2011Q3 us-gaap Sales Of Real Estate
SalesOfRealEstate
12407000
CY2011Q3 us-gaap Oil And Gas Revenue
OilAndGasRevenue
5871000
CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
56574000
CY2011Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2250000 shares
CY2011Q3 us-gaap Interest Expense
InterestExpense
4271000
CY2011Q3 for Equity Settled Awards
EquitySettledAwards
265000
CY2011Q3 for Income Loss From Continuing Operations Before Income Taxes Attributable To Parent
IncomeLossFromContinuingOperationsBeforeIncomeTaxesAttributableToParent
56037000
CY2011Q3 for Income Loss From Continuing Operations Before Income Taxes Attributable To Parent Not Allocated To Segment
IncomeLossFromContinuingOperationsBeforeIncomeTaxesAttributableToParentNotAllocatedToSegment
56265000
CY2011Q3 for Cost Of Commercial And Income Producing Properties
CostOfCommercialAndIncomeProducingProperties
4607000
CY2011Q3 for Cash Settled Awards
CashSettledAwards
-4893000
CY2011Q3 for Share Based Compensation Expense Income Included In General And Administrative Expense
ShareBasedCompensationExpenseIncomeIncludedInGeneralAndAdministrativeExpense
-2057000
CY2011Q3 for Share Based Compensation Expense Income Included In Other Operating Expense
ShareBasedCompensationExpenseIncomeIncludedInOtherOperatingExpense
-1496000
CY2011Q3 for Commercial And Income Producing Properties Revenue
CommercialAndIncomeProducingPropertiesRevenue
6653000
CY2011Q3 for Business Acquisition Transaction Related Cost
BusinessAcquisitionTransactionRelatedCost
459000
CY2011Q3 for Other Nonoperating Income Not Allocated To Segments
OtherNonoperatingIncomeNotAllocatedToSegments
26000
CY2011Q3 for Interest Expense Not Allocated To Segments
InterestExpenseNotAllocatedToSegments
4271000
CY2011Q3 for Gains Losses On Sales Of Assets Not Allocated To Segments
GainsLossesOnSalesOfAssetsNotAllocatedToSegments
61784000
CY2011Q3 for Share Based Compensation Expense Not Allocated To Segments
ShareBasedCompensationExpenseNotAllocatedToSegments
-3553000
CY2011Q3 for General And Administrative Expense Not Allocated To Segments
GeneralAndAdministrativeExpenseNotAllocatedToSegments
4827000
CY2011Q3 for Dilutive Effect Of Stock Options Restricted Stock And Equity Settled Awards
DilutiveEffectOfStockOptionsRestrictedStockAndEquitySettledAwards
282000 shares
CY2012Q3 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
6042000
CY2012Q3 us-gaap Oil And Gas Production Expense
OilAndGasProductionExpense
1865000
CY2012Q3 us-gaap Profit Loss
ProfitLoss
-380000
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
40610000
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
4843000
CY2012Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.38 pure
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-703000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
CY2012Q3 us-gaap Cost Of Real Estate Sales
CostOfRealEstateSales
10806000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
-703000
CY2012Q3 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
1056000
CY2012Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1113000
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35233000 shares
CY2012Q3 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
10196000
CY2012Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.74 pure
CY2012Q3 us-gaap Share Based Compensation
ShareBasedCompensation
6327000
CY2012Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
46972000
CY2012Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
14691000
CY2012Q3 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
680000
CY2012Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
5508000
CY2012Q3 us-gaap Costs And Expenses
CostsAndExpenses
45963000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
CY2012Q3 us-gaap Timber Revenue
TimberRevenue
3016000
CY2012Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11298000
CY2012Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
514000
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35233000 shares
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1078000
CY2012Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
27115000
CY2012Q3 us-gaap Timber Operating Costs
TimberOperatingCosts
570000
CY2012Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
323000
CY2012Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
657000
CY2012Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
680000
CY2012Q3 us-gaap Sales Of Real Estate
SalesOfRealEstate
18310000
CY2012Q3 us-gaap Oil And Gas Revenue
OilAndGasRevenue
10479000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1458000
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2661000 shares
CY2012Q3 us-gaap Interest Expense
InterestExpense
8094000
CY2012Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
4448000
CY2012Q3 for Equity Settled Awards
EquitySettledAwards
609000
CY2012Q3 for Income Loss From Continuing Operations Before Income Taxes Attributable To Parent
IncomeLossFromContinuingOperationsBeforeIncomeTaxesAttributableToParent
-1781000
CY2012Q3 for Income Loss From Continuing Operations Before Income Taxes Attributable To Parent Not Allocated To Segment
IncomeLossFromContinuingOperationsBeforeIncomeTaxesAttributableToParentNotAllocatedToSegment
-22358000
CY2012Q3 for Cost Of Commercial And Income Producing Properties
CostOfCommercialAndIncomeProducingProperties
6733000
CY2012Q3 for Cash Settled Awards
CashSettledAwards
4547000
CY2012Q3 for Proceeds From Consolidated Ventures Sale Of Assets Net
ProceedsFromConsolidatedVenturesSaleOfAssetsNet
29474000
CY2012Q3 for Share Based Compensation Expense Income Included In General And Administrative Expense
ShareBasedCompensationExpenseIncomeIncludedInGeneralAndAdministrativeExpense
3298000
CY2012Q3 for Share Based Compensation Expense Income Included In Other Operating Expense
ShareBasedCompensationExpenseIncomeIncludedInOtherOperatingExpense
3029000
CY2012Q3 for Commercial And Income Producing Properties Revenue
CommercialAndIncomeProducingPropertiesRevenue
8805000
CY2012Q3 for Business Acquisition Transaction Related Cost
BusinessAcquisitionTransactionRelatedCost
3248000
CY2012Q3 for Other Nonoperating Income Not Allocated To Segments
OtherNonoperatingIncomeNotAllocatedToSegments
47000
CY2012Q3 for Interest Expense Not Allocated To Segments
InterestExpenseNotAllocatedToSegments
8094000
CY2012Q3 for Gains Losses On Sales Of Assets Not Allocated To Segments
GainsLossesOnSalesOfAssetsNotAllocatedToSegments
16000
CY2012Q3 for Share Based Compensation Expense Not Allocated To Segments
ShareBasedCompensationExpenseNotAllocatedToSegments
6327000
CY2012Q3 for General And Administrative Expense Not Allocated To Segments
GeneralAndAdministrativeExpenseNotAllocatedToSegments
8000000
CY2012Q3 for Gain On Sale Of Multifamily Property
GainOnSaleOfMultifamilyProperty
10180000

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