2016 Q2 Form 10-Q Financial Statement

#000152611316000016 Filed on May 06, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q1
Revenue $53.20M $54.95M $49.97M
YoY Change 8.41% 9.98% 562.1%
Cost Of Revenue $8.500M $10.46M $5.300M
YoY Change 14.25% 97.36% 1666.67%
Gross Profit $44.70M $44.49M $44.67M
YoY Change 7.37% -0.4% 516.14%
Gross Profit Margin 84.03% 80.96% 89.4%
Selling, General & Admin $1.950M $2.750M $3.390M
YoY Change -18.75% -18.88% 245.92%
% of Gross Profit 4.36% 6.18% 7.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.80M $12.61M $10.88M
YoY Change 7.69% 15.82% 353.69%
% of Gross Profit 53.24% 28.33% 24.37%
Operating Expenses $34.29M $36.84M $29.25M
YoY Change -50.7% 25.95% 32.1%
Operating Profit $18.91M $18.12M $20.72M
YoY Change -192.3% -12.57% -241.97%
Interest Expense $10.63M $10.57M $7.811M
YoY Change 33.81% 35.31% 362.46%
% of Operating Profit 56.25% 58.34% 37.7%
Other Income/Expense, Net -$2.544M -$11.01M $6.775M
YoY Change -89.41% -262.46% -486.26%
Pretax Income $16.36M $7.108M $27.50M
YoY Change -136.77% -74.15% -268.17%
Income Tax $400.0K $550.0K $1.640M
% Of Pretax Income 2.44% 7.74% 5.96%
Net Earnings $15.76M $6.488M $25.86M
YoY Change -134.52% -74.91% -258.14%
Net Earnings / Revenue 29.63% 11.81% 51.74%
Basic Earnings Per Share
Diluted Earnings Per Share $275.8K $115.3K $433.0K
COMMON SHARES
Basic Shares Outstanding 168.9M shares 168.9M shares 179.7M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.50M $45.80M $76.30M
YoY Change -34.25% -39.97% -72.79%
Cash & Equivalents $40.50M $45.80M $76.30M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $68.10M $45.80M $76.30M
YoY Change 10.19% -39.97% -73.94%
LONG-TERM ASSETS
Property, Plant & Equipment $2.334B $2.396B $2.253B
YoY Change 2.75% 6.38% 347.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $500.0K
YoY Change
Other Assets $6.400M $9.300M $20.30M
YoY Change -66.84% -54.19% 190.0%
Total Long-Term Assets $2.368B $2.456B $2.315B
YoY Change 1.55% 6.09% 339.04%
TOTAL ASSETS
Total Short-Term Assets $68.10M $45.80M $76.30M
Total Long-Term Assets $2.368B $2.456B $2.315B
Total Assets $2.436B $2.501B $2.391B
YoY Change 1.78% 4.62% 191.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.00M $19.60M $22.80M
YoY Change -21.05% -14.04% 245.45%
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 $22.60M $23.80M $35.10M
YoY Change -84.91% -32.19% 228.04%
LONG-TERM LIABILITIES
Long-Term Debt $1.181B $1.229B $895.3M
YoY Change 26.48% 37.25% 307.7%
Other Long-Term Liabilities $58.50M $55.70M $39.10M
YoY Change 39.95% 42.46% 112.5%
Total Long-Term Liabilities $1.239B $1.285B $934.4M
YoY Change 27.06% 37.47% 292.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.60M $23.80M $35.10M
Total Long-Term Liabilities $1.239B $1.285B $934.4M
Total Liabilities $1.266B $1.312B $970.5M
YoY Change 12.25% 35.23% 290.28%
SHAREHOLDERS EQUITY
Retained Earnings -$310.6M -$296.3M -$160.6M
YoY Change 34.7% 84.49% 366.59%
Common Stock $1.692M $1.692M $1.799M
YoY Change 0.0% -5.95% 159.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.156B $1.174B $1.420B
YoY Change
Total Liabilities & Shareholders Equity $2.436B $2.501B $2.391B
YoY Change 1.78% 4.62% 191.57%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $15.76M $6.488M $25.86M
YoY Change -134.52% -74.91% -258.14%
Depreciation, Depletion And Amortization $23.80M $12.61M $10.88M
YoY Change 7.69% 15.82% 353.69%
Cash From Operating Activities $31.80M $28.13M $34.49M
YoY Change 221.21% -18.44% -286.0%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K -$100.0K -$40.50M
YoY Change -98.89% -99.75% -77.76%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $10.30M
YoY Change -100.0% -100.0%
Cash From Investing Activities -$100.0K -$114.0K -$30.26M
YoY Change -98.82% -99.62% -83.38%
FINANCING ACTIVITIES
Cash Dividend Paid $14.27M
YoY Change 603.55%
Common Stock Issuance & Retirement, Net -$7.000K $1.018M
YoY Change -100.69% -100.2%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -35.60M -$51.83M $7.886M
YoY Change 33.33% -757.22% -98.32%
NET CHANGE
Cash From Operating Activities 31.80M $28.13M $34.49M
Cash From Investing Activities -100.0K -$114.0K -$30.26M
Cash From Financing Activities -35.60M -$51.83M $7.886M
Net Change In Cash -3.900M -$23.81M $12.12M
YoY Change -84.58% -296.5% -95.48%
FREE CASH FLOW
Cash From Operating Activities $31.80M $28.13M $34.49M
Capital Expenditures -$100.0K -$100.0K -$40.50M
Free Cash Flow $31.90M $28.23M $74.99M
YoY Change 68.78% -62.35% -54.15%

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2038000 USD
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1020000 USD
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-1488000 USD
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-882000 USD
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-1890000 USD
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-814000 USD
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2363000 USD
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-1252000 USD
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991000 USD
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3111000 USD
CY2015Q1 us-gaap Interest Expense
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7811000 USD
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10569000 USD
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8251000 USD
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1312425000 USD
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2540522000 USD
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2501330000 USD
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14726000 USD
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15157000 USD
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483000 USD
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7886000 USD
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-114000 USD
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34489000 USD
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28130000 USD
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25855000 USD
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6488000 USD
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0 USD
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70000 USD
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25855000 USD
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6488000 USD
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25855000 USD
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6293000 USD
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7000 USD
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0 USD
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6775000 USD
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-11007000 USD
CY2016Q1 us-gaap Number Of Businesses Acquired
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2 property
CY2016Q1 us-gaap Number Of Real Estate Properties
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329 property
CY2015Q4 us-gaap Off Market Lease Unfavorable
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27978000 USD
CY2016Q1 us-gaap Off Market Lease Unfavorable
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27643000 USD
CY2015Q1 us-gaap Operating Expenses
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29249000 USD
CY2016Q1 us-gaap Operating Expenses
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36839000 USD
CY2015Q1 us-gaap Operating Income Loss
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20720000 USD
CY2016Q1 us-gaap Operating Income Loss
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18115000 USD
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50753000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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1360000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1360000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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1360000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1360000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable
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2114075000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
207080000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
204908000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
202434000 USD
CY2016Q1 us-gaap Preferred Stock Value
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0 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
199910000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
147475000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1020000 USD
CY2015Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
47432000 USD
CY2016Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
51511000 USD
CY2015Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
0 USD
CY2016Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
300000 USD
CY2015Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToNoncontrollingInterest
0 USD
CY2016Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToNoncontrollingInterest
-120000 USD
CY2015Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
0 USD
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
32000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
7534000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-11316000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-14534000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2996000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-7000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-8320000 USD
CY2015Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
13000 USD
CY2016Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
9000 USD
CY2015Q1 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
-195000 USD
CY2016Q1 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
0 USD
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1316000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2015Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
14268000 USD
CY2016Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
30020000 USD
CY2015Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0 USD
CY2016Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
857000 USD
CY2015Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2016Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
-87000 USD
CY2015Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
-67000 USD
CY2016Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2015Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1852000 USD
CY2016Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
114000 USD
CY2015Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
38655000 USD
CY2016Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
38393000 USD
CY2016Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
43386000 USD
CY2015Q1 us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
1572000 USD
CY2016Q1 us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
135000 USD
CY2015Q1 us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
10055000 USD
CY2016Q1 us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
0 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
6558000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
298000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7000 USD
CY2015Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
251572000 USD
CY2016Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
CY2015Q2 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
800000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
25855000 USD
CY2015Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
1685919000 USD
CY2016Q1 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
1692322000 USD
CY2015Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
341911000 USD
CY2016Q1 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
342517000 USD
CY2015Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
133329000 USD
CY2016Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
157670000 USD
CY2015Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2546304000 USD
CY2016Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2553772000 USD
CY2015Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2412975000 USD
CY2016Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2396102000 USD
CY2015Q1 us-gaap Repayments Of Lines Of Credit
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231107000 USD
CY2016Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
20000000 USD
CY2015Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
184000 USD
CY2016Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
189000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3319000 USD
CY2016Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4310000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-272812000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-296344000 USD
CY2015Q1 us-gaap Revenues
Revenues
49969000 USD
CY2016Q1 us-gaap Revenues
Revenues
54954000 USD
CY2015Q4 us-gaap Secured Debt
SecuredDebt
524262000 USD
CY2016Q1 us-gaap Secured Debt
SecuredDebt
525503000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
35000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1044000 USD
CY2014Q2 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
1100000 shares
CY2015Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
17007000 USD
CY2016Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
0 USD
CY2016Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
7000 USD
CY2015Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
35000 USD
CY2016Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1044000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
1205393000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
1173748000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1220119000 USD
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1188905000 USD
CY2015Q1 us-gaap Straight Line Rent
StraightLineRent
4438000 USD
CY2016Q1 us-gaap Straight Line Rent
StraightLineRent
2801000 USD
CY2015Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
5201000 USD
CY2016Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
3713000 USD
CY2015Q1 us-gaap Tenant Reimbursements
TenantReimbursements
2537000 USD
CY2016Q1 us-gaap Tenant Reimbursements
TenantReimbursements
3443000 USD
CY2015Q1 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
10000 USD
CY2016Q1 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
0 USD
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
179156462 shares
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
168936633 shares
CY2016Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to the 2015 consolidated financial statements to conform to the current period presentation.</font></div></div>

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