2018 Q4 Form 10-Q Financial Statement

#000123400618000015 Filed on October 30, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $27.26M $26.59M $24.37M
YoY Change 7.95% 9.14% 12.86%
Cost Of Revenue $4.170M $3.780M $3.360M
YoY Change 9.16% 12.5% 35.48%
Gross Profit $23.09M $22.81M $21.01M
YoY Change 7.75% 8.57% 9.94%
Gross Profit Margin 84.7% 85.78% 86.23%
Selling, General & Admin $2.150M $1.840M $1.680M
YoY Change 31.9% 9.52% 29.23%
% of Gross Profit 9.31% 8.07% 8.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.45M $11.81M $10.82M
YoY Change 2.64% 9.15% 14.38%
% of Gross Profit 53.92% 51.78% 51.5%
Operating Expenses $18.77M $17.42M $15.87M
YoY Change -8.01% 9.8% 4.58%
Operating Profit $4.319M $5.388M $5.143M
YoY Change 321.37% 4.76% 30.6%
Interest Expense -$6.900M $6.531M $6.119M
YoY Change 8.66% 6.73% -3.46%
% of Operating Profit -159.76% 121.21% 118.98%
Other Income/Expense, Net -$5.973M -$6.492M -$6.115M
YoY Change -5.36% 6.17% -5.78%
Pretax Income $2.520M $2.680M $2.380M
YoY Change -271.43% 12.61% -3500.0%
Income Tax
% Of Pretax Income
Net Earnings $2.517M $2.677M $2.383M
YoY Change -272.04% 12.34% -3364.38%
Net Earnings / Revenue 9.23% 10.07% 9.78%
Basic Earnings Per Share -$0.01 -$0.01
Diluted Earnings Per Share $86.22K -$0.01 -$0.01
COMMON SHARES
Basic Shares Outstanding 28.99M shares 28.73M shares 27.23M shares
Diluted Shares Outstanding 28.73M shares 27.23M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.600M $2.500M $4.300M
YoY Change -1.49% -41.86% -50.57%
Cash & Equivalents $6.591M $2.470M $4.287M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $4.200M $1.400M $0.00
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $10.80M $3.900M $4.300M
YoY Change -31.21% -9.3% -78.92%
LONG-TERM ASSETS
Property, Plant & Equipment $768.4M $742.7M $734.4M
YoY Change 3.22% 1.13% 9.3%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $43.30M $43.20M $46.90M
YoY Change -3.99% -7.89% 15.8%
Total Long-Term Assets $928.0M $900.3M $900.6M
YoY Change 1.67% -0.03% 10.06%
TOTAL ASSETS
Total Short-Term Assets $10.80M $3.900M $4.300M
Total Long-Term Assets $928.0M $900.3M $900.6M
Total Assets $938.8M $904.2M $904.9M
YoY Change 1.11% -0.07% 7.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.500M $2.500M $2.300M
YoY Change 8.7% 8.7% 15.0%
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 $2.500M $2.500M $8.200M
YoY Change 8.7% -69.51% 105.0%
LONG-TERM LIABILITIES
Long-Term Debt $566.1M $542.1M $518.9M
YoY Change 4.33% 4.47% 0.52%
Other Long-Term Liabilities $27.50M $24.20M $26.50M
YoY Change 5.77% -8.68% 13.73%
Total Long-Term Liabilities $593.6M $566.3M $545.4M
YoY Change 4.4% 3.83% 1.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.500M $2.500M $8.200M
Total Long-Term Liabilities $593.6M $566.3M $545.4M
Total Liabilities $598.8M $571.5M $555.8M
YoY Change 3.55% 2.81% 1.89%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $29.00K $29.00K $28.00K
YoY Change 3.57% 3.57% 16.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $249.7M $247.1M $267.0M
YoY Change
Total Liabilities & Shareholders Equity $938.8M $904.2M $904.9M
YoY Change 1.11% -0.07% 7.89%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $2.517M $2.677M $2.383M
YoY Change -272.04% 12.34% -3364.38%
Depreciation, Depletion And Amortization $12.45M $11.81M $10.82M
YoY Change 2.64% 9.15% 14.38%
Cash From Operating Activities $14.81M $14.79M $13.38M
YoY Change 23.01% 10.54% 11.59%
INVESTING ACTIVITIES
Capital Expenditures -$21.39M -$8.780M -$80.17M
YoY Change -44.74% -89.05% 220.17%
Acquisitions
YoY Change
Other Investing Activities $1.760M -$470.0K $2.690M
YoY Change 3.53% -117.47% 144.55%
Cash From Investing Activities -$19.62M -$9.260M -$77.47M
YoY Change -47.0% -88.05% 223.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.820M -7.750M 64.12M
YoY Change -66.39% -112.09% 283.49%
NET CHANGE
Cash From Operating Activities 14.81M 14.79M 13.38M
Cash From Investing Activities -19.62M -9.260M -77.47M
Cash From Financing Activities 8.820M -7.750M 64.12M
Net Change In Cash 4.010M -2.220M 30.00K
YoY Change 218.25% -7500.0% -99.37%
FREE CASH FLOW
Cash From Operating Activities $14.81M $14.79M $13.38M
Capital Expenditures -$21.39M -$8.780M -$80.17M
Free Cash Flow $36.20M $23.57M $93.55M
YoY Change -28.67% -74.8% 152.63%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
good Improvements Of Existing Real Estate
ImprovementsOfExistingRealEstate
8233000 USD
good Improvements Of Existing Real Estate
ImprovementsOfExistingRealEstate
2494000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
dei Document Period End Date
DocumentPeriodEndDate
2018-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001234006
CY2018Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
28987513 shares
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
GLADSTONE COMMERCIAL CORP
dei Entity Small Business
EntitySmallBusiness
false
dei Trading Symbol
TradingSymbol
GOOD
CY2017Q3 good Administration Fee
AdministrationFee
293000 USD
good Administration Fee
AdministrationFee
993000 USD
CY2018Q3 good Administration Fee
AdministrationFee
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good Administration Fee
AdministrationFee
1187000 USD
good Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
-633000 USD
good Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
-797000 USD
CY2017Q1 good Amount To Be Paid To Adviser In Percentage Of Pre Incentive Fee Condition One
AmountToBePaidToAdviserInPercentageOfPreIncentiveFeeConditionOne
0.150
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
3993000 USD
CY2018Q3 good Earnings Per Weighted Average Share Of Senior Common Stock
EarningsPerWeightedAverageShareOfSeniorCommonStock
0.27
good Earnings Per Weighted Average Share Of Senior Common Stock
EarningsPerWeightedAverageShareOfSeniorCommonStock
0.79
good Fixed Asset Additions Paid For By Tenant
FixedAssetAdditionsPaidForByTenant
2201000 USD
good Fixed Asset Additions Paid For By Tenant
FixedAssetAdditionsPaidForByTenant
314000 USD
good Fixed Asset Additions Paid For By Tenanton Acquired Business
FixedAssetAdditionsPaidForByTenantonAcquiredBusiness
0 USD
good Fixed Asset Additions Paid For By Tenanton Acquired Business
FixedAssetAdditionsPaidForByTenantonAcquiredBusiness
3966000 USD
CY2017Q3 good Earnings Per Weighted Average Share Of Senior Common Stock
EarningsPerWeightedAverageShareOfSeniorCommonStock
0.26
good Earnings Per Weighted Average Share Of Senior Common Stock
EarningsPerWeightedAverageShareOfSeniorCommonStock
0.79
CY2017Q1 good Annual Base Management Fee In Percentage Of Stockholders Equity Adjusted To Unrealized Gains Or Losses
AnnualBaseManagementFeeInPercentageOfStockholdersEquityAdjustedToUnrealizedGainsOrLosses
0.015
CY2017Q1 good Annualized Incentive Fee Per Advisory Agreement
AnnualizedIncentiveFeePerAdvisoryAgreement
0.08
good Annualized Straight Line Rent On Leased Property
AnnualizedStraightLineRentOnLeasedProperty
4062000 USD
good Annualized Straight Line Rent On Leased Property
AnnualizedStraightLineRentOnLeasedProperty
391000 USD
good Area Of Leased Property
AreaOfLeasedProperty
577471 sqft
good Area Of Leased Property
AreaOfLeasedProperty
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good Asset Retirement Obligation Expense
AssetRetirementObligationExpense
96000 USD
good Asset Retirement Obligation Expense
AssetRetirementObligationExpense
90000 USD
CY2017Q3 good Base Management Fee
BaseManagementFee
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good Base Management Fee
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CY2018Q3 good Base Management Fee
BaseManagementFee
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good Base Management Fee
BaseManagementFee
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CY2018Q2 good Capital Stock Shares Authorized
CapitalStockSharesAuthorized
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CY2017Q3 good Distributions Attributable To Senior Common Stock
DistributionsAttributableToSeniorCommonStock
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good Distributions Attributable To Senior Common Stock
DistributionsAttributableToSeniorCommonStock
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CY2018Q3 good Distributions Attributable To Senior Common Stock
DistributionsAttributableToSeniorCommonStock
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good Distributions Attributable To Senior Common Stock
DistributionsAttributableToSeniorCommonStock
700000 USD
CY2017Q3 good Incentive Fee
IncentiveFee
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good Incentive Fee
IncentiveFee
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CY2018Q3 good Incentive Fee
IncentiveFee
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good Incentive Fee
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CY2017Q3 good Incentive Fee On Capital Gains
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good Incentive Fee On Capital Gains
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CY2018Q3 good Incentive Fee On Capital Gains
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good Incentive Fee On Capital Gains
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CY2017Q3 good Incentive Fee Waived
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good Incentive Fee Waived
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CY2018Q3 good Incentive Fee Waived
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good Incentive Fee Waived
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good Interest Rate Swap Assumed Amount
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good Interest Rate Swap Assumed Amount
InterestRateSwapAssumedAmount
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CY2018Q3 good Lessee Operating Lease Numberof Units Under Operating Lease Arrangements
LesseeOperatingLeaseNumberofUnitsUnderOperatingLeaseArrangements
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CY2017Q4 good Line Of Credit Facility Percentage Of Extension Fee On Initial Maturity
LineOfCreditFacilityPercentageOfExtensionFeeOnInitialMaturity
0.0025
good Non Cash Capital Improvements Included In Accounts Payable And Accrued Expenses
NonCashCapitalImprovementsIncludedInAccountsPayableAndAccruedExpenses
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good Non Cash Capital Improvements Included In Accounts Payable And Accrued Expenses
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CY2017Q1 good Notice Period For Termination Of Agreement With Cause
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CY2017Q1 good Notice Period For Termination Of Agreement Without Cause
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CY2018Q3 good Number Of Existing Encumbered Properties
NumberOfExistingEncumberedProperties
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good Number Of Leased Properties
NumberOfLeasedProperties
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good Number Of Leased Properties
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good Number Of Long Term Mortgages Repaid
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good Number Of Long Term Mortgages Repaid
NumberOfLongTermMortgagesRepaid
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CY2017Q3 good Number Of Properties Acquired
NumberOfPropertiesAcquired
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CY2018Q3 good Number Of Properties Acquired
NumberOfPropertiesAcquired
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good Number Of Properties Collateralized
NumberOfPropertiesCollateralized
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CY2018Q3 good Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
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good Numberof Executive Officers
NumberofExecutiveOfficers
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CY2018Q3 good Numberof Impaired Assets Heldand Used
NumberofImpairedAssetsHeldandUsed
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CY2017Q4 good Numberof Impaired Assets Sold Heldfor Sale
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good Numberof Non Core Properties Sold
NumberofNonCorePropertiesSold
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good Numberof Properties Repaid To Collateralized Mortgage Notes Payable
NumberofPropertiesRepaidToCollateralizedMortgageNotesPayable
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CY2017Q1 good Numberof Quarters Usedforthe Capof Average Quarterly Incentive Fees
NumberofQuartersUsedfortheCapofAverageQuarterlyIncentiveFees
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CY2017Q3 good Payment Of Financing Fee
PaymentOfFinancingFee
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good Payment Of Financing Fee
PaymentOfFinancingFee
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CY2018Q3 good Payment Of Financing Fee
PaymentOfFinancingFee
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good Payment Of Financing Fee
PaymentOfFinancingFee
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good Payments To Acquire Real Estate And Intangible Assets
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good Payments To Acquire Real Estate And Intangible Assets
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good Payments To Lenders For Reserves Held In Escrow
PaymentsToLendersForReservesHeldInEscrow
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PaymentsToLendersForReservesHeldInEscrow
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good Payments To Tenants From Reserves
PaymentsToTenantsFromReserves
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PaymentsToTenantsFromReserves
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good Paymentsfor Tenant Inducement
PaymentsforTenantInducement
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good Paymentsfor Tenant Inducement
PaymentsforTenantInducement
0 USD
CY2017Q1 good Percentage Of Incentive Fees On Capital Gains
PercentageOfIncentiveFeesOnCapitalGains
0.150
CY2017Q1 good Percentageof Independent Directors Requiredto Terminatethe Amended Advisory Agreement
PercentageofIndependentDirectorsRequiredtoTerminatetheAmendedAdvisoryAgreement
0.6667
good Proceeds From Deposits Applied Against Acquisition Of Real Estate Investments
ProceedsFromDepositsAppliedAgainstAcquisitionOfRealEstateInvestments
1650000 USD
good Proceeds From Deposits Applied Against Acquisition Of Real Estate Investments
ProceedsFromDepositsAppliedAgainstAcquisitionOfRealEstateInvestments
590000 USD
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PropertyOperatingExpenses
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PropertyOperatingExpenses
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PropertyOperatingExpenses
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good Property Operating Expenses
PropertyOperatingExpenses
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good Purchase Price Of Acquired Property
PurchasePriceOfAcquiredProperty
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PurchasePriceOfAcquiredProperty
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0.00375
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0.02
good Receipts From Lenders For Reserves Held In Escrow
ReceiptsFromLendersForReservesHeldInEscrow
3712000 USD
good Receipts From Lenders For Reserves Held In Escrow
ReceiptsFromLendersForReservesHeldInEscrow
1286000 USD
good Receipts From Tenants For Reserves
ReceiptsFromTenantsForReserves
1450000 USD
good Receipts From Tenants For Reserves
ReceiptsFromTenantsForReserves
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CY2017Q3 good Secured Mortgages Financing Fee Percent
SecuredMortgagesFinancingFeePercent
0.0025
good Secured Mortgages Financing Fee Percent
SecuredMortgagesFinancingFeePercent
0.0027
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SecuredMortgagesFinancingFeePercent
0.0015
good Secured Mortgages Financing Fee Percent
SecuredMortgagesFinancingFeePercent
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CY2018Q2 good Senior Common Stock Authorized Unissued
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us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
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P15Y15D
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SeniorCommonStockParValue
0.001
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SeniorCommonStockParValue
0.001
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CY2018Q3 good Senior Common Stock Shares Authorized
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CY2017Q4 good Senior Common Stock Shares Issued
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CY2018Q3 good Senior Common Stock Shares Issued
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CY2017Q4 good Senior Common Stock Shares Outstanding
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CY2018Q3 good Senior Common Stock Shares Outstanding
SeniorCommonStockSharesOutstanding
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CY2017Q4 good Senior Common Stocks
SeniorCommonStocks
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CY2018Q3 good Senior Common Stocks
SeniorCommonStocks
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CY2018Q2 good Shares Reclassified To Common Stock Shares
SharesReclassifiedToCommonStockShares
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CY2017Q3 good Tenant Recovery Revenue
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550000 USD
good Tenant Recovery Revenue
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1294000 USD
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TenantRecoveryRevenue
854000 USD
good Tenant Recovery Revenue
TenantRecoveryRevenue
2517000 USD
CY2017Q1 good Termination Fee Payableas Percentageof Average Annual Management Feeand Incentive Fee During Twenty Four Month Period
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2
CY2017Q3 good Weighted Average Shares Of Senior Common Stock Outstanding Basic
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good Weighted Average Shares Of Senior Common Stock Outstanding Basic
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947238 shares
CY2018Q3 good Weighted Average Shares Of Senior Common Stock Outstanding Basic
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good Weighted Average Shares Of Senior Common Stock Outstanding Basic
WeightedAverageSharesOfSeniorCommonStockOutstandingBasic
890966 shares
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143512000 USD
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us-gaap Amortization Of Below Market Lease
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us-gaap Amortization Of Below Market Lease
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1500000 USD
us-gaap Amortization Of Debt Discount Premium
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-80000 USD
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-36000 USD
us-gaap Amortization Of Financing Costs
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1248000 USD
us-gaap Amortization Of Financing Costs
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1103000 USD
CY2017Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3900000 USD
us-gaap Amortization Of Intangible Assets
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10900000 USD
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4300000 USD
us-gaap Amortization Of Intangible Assets
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12900000 USD
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us-gaap Asset Impairment Charges
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us-gaap Asset Impairment Charges
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us-gaap Asset Impairment Charges
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Assets
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Assets
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1436000 USD
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2470000 USD
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7688000 USD
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9080000 USD
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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132000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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-4005000 USD
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USD
CY2018Q3 us-gaap Commitments And Contingencies
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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OtherComprehensiveIncomeLossNetOfTax
245000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1028000 USD
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1028000 USD
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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172000 USD
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245000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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1028000 USD
CY2017Q4 us-gaap Other Liabilities
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6554000 USD
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3000 USD
us-gaap Other Nonoperating Income
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14000 USD
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39000 USD
us-gaap Other Nonoperating Income
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67000 USD
us-gaap Payments For Commissions
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192000 USD
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402000 USD
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PaymentsForLeaseCommissions
475000 USD
us-gaap Payments For Lease Commissions
PaymentsForLeaseCommissions
14000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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PaymentsForRepurchaseOfCommonStock
34000 USD
us-gaap Payments For Tenant Improvements
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1181000 USD
us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
0 USD
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PaymentsOfDividends
37130000 USD
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PaymentsOfDividends
40615000 USD
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PaymentsOfFinancingCosts
992000 USD
us-gaap Payments Of Financing Costs
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345000 USD
us-gaap Payments Of Stock Issuance Costs
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1922000 USD
us-gaap Payments Of Stock Issuance Costs
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200000 USD
us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
1650000 USD
us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
590000 USD
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
2000 USD
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
2000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
69891000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
12504000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
89800000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
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ProceedsFromNotesPayable
51208000 USD
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29499000 USD
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CY2017Q3 us-gaap Redeemable Preferred Stock Dividends
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2520000 USD
us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
7330000 USD
CY2018Q3 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
2612000 USD
us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
7803000 USD
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CY2018Q3 us-gaap Restricted Cash
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CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
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CY2018Q3 us-gaap Restricted Cash And Cash Equivalents
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CY2017Q3 us-gaap Revenues
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StockholdersEquity
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us-gaap Straight Line Rent
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2437000 USD
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StraightLineRent
1908000 USD
CY2017Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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CY2018Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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CY2017Q4 us-gaap Tenant Improvements
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us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
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172000 USD
us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
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1028000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25833423 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28734380 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28532224 shares
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27234569 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25833423 shares
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
28734380 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
28532224 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27234569 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25833423 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28734380 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28532224 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">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 revenues and expenses during the reporting periods. Actual results could materially differ from those estimates.</font></div></div>

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