2019 Q1 Form 10-Q Financial Statement

#000137367019000009 Filed on May 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $168.6M $129.2M
YoY Change 30.55% 28.22%
Cost Of Revenue $133.3M $96.53M
YoY Change 38.05% 23.6%
Gross Profit $35.37M $32.63M
YoY Change 8.37% 51.79%
Gross Profit Margin 20.97% 25.27%
Selling, General & Admin $23.07M $18.13M
YoY Change 27.23% 323.77%
% of Gross Profit 65.22% 55.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $888.0K $402.0K
YoY Change 120.9% 356.82%
% of Gross Profit 2.51% 1.23%
Operating Expenses $23.07M $18.13M
YoY Change 27.23% 323.77%
Operating Profit $11.38M $14.51M
YoY Change -21.54% 25.33%
Interest Expense $1.800M $1.500M
YoY Change 20.0%
% of Operating Profit 15.82% 10.34%
Other Income/Expense, Net $1.627M $570.0K
YoY Change 185.44% 5.17%
Pretax Income $15.32M $16.61M
YoY Change -7.78% 37.11%
Income Tax $3.828M $3.372M
% Of Pretax Income 24.99% 20.3%
Net Earnings $12.61M $11.20M
YoY Change 12.51% 80.78%
Net Earnings / Revenue 7.48% 8.67%
Basic Earnings Per Share $0.25 $0.22
Diluted Earnings Per Share $0.25 $0.22
COMMON SHARES
Basic Shares Outstanding 50.56M shares 50.58M shares
Diluted Shares Outstanding 50.61M shares 50.72M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.90M $34.40M
YoY Change -30.52% 6.5%
Cash & Equivalents $26.61M $38.85M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $690.8M $528.5M
Prepaid Expenses
Receivables $2.800M $1.500M
Other Receivables $0.00 $0.00
Total Short-Term Assets $717.5M $564.4M
YoY Change 27.13% 27.87%
LONG-TERM ASSETS
Property, Plant & Equipment $4.464M $2.108M
YoY Change 111.76% 161.86%
Goodwill $680.0K
YoY Change
Intangibles $765.0K
YoY Change
Long-Term Investments $21.84M $17.65M
YoY Change 23.74%
Other Assets $20.20M $32.20M
YoY Change -37.27% -53.87%
Total Long-Term Assets $75.52M $78.79M
YoY Change -4.15% -14.42%
TOTAL ASSETS
Total Short-Term Assets $717.5M $564.4M
Total Long-Term Assets $75.52M $78.79M
Total Assets $793.0M $643.2M
YoY Change 23.29% 20.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.60M $20.20M
YoY Change 6.93% 54.2%
Accrued Expenses $35.90M $16.30M
YoY Change 120.25% 9.4%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $87.80M $59.20M
YoY Change 48.31% 31.26%
LONG-TERM LIABILITIES
Long-Term Debt $216.8M $144.9M
YoY Change 49.62% 99.31%
Other Long-Term Liabilities $2.700M $0.00
YoY Change -100.0%
Total Long-Term Liabilities $219.5M $144.9M
YoY Change 51.48% 77.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $87.80M $59.20M
Total Long-Term Liabilities $219.5M $144.9M
Total Liabilities $297.1M $204.1M
YoY Change 45.53% 60.81%
SHAREHOLDERS EQUITY
Retained Earnings $190.1M $137.1M
YoY Change 38.67% 17.05%
Common Stock $291.8M $291.3M
YoY Change 0.17% 5.93%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.041M $0.00
YoY Change
Treasury Stock Shares
Shareholders Equity $480.9M $428.4M
YoY Change
Total Liabilities & Shareholders Equity $793.0M $643.2M
YoY Change 23.29% 20.57%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $12.61M $11.20M
YoY Change 12.51% 80.78%
Depreciation, Depletion And Amortization $888.0K $402.0K
YoY Change 120.9% 356.82%
Cash From Operating Activities -$9.231M -$20.22M
YoY Change -54.35% -222.18%
INVESTING ACTIVITIES
Capital Expenditures $571.0K $601.0K
YoY Change -4.99%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$571.0K -$601.0K
YoY Change -4.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $60.00K $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$5.339M $19.38M
YoY Change -127.55% -205.79%
NET CHANGE
Cash From Operating Activities -$9.231M -$20.22M
Cash From Investing Activities -$571.0K -$601.0K
Cash From Financing Activities -$5.339M $19.38M
Net Change In Cash -$15.14M -$1.441M
YoY Change 950.73% -18.59%
FREE CASH FLOW
Cash From Operating Activities -$9.231M -$20.22M
Capital Expenditures $571.0K $601.0K
Free Cash Flow -$9.802M -$20.82M
YoY Change -52.92% -225.81%

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135000 USD
CY2019Q1 us-gaap Increase Decrease In Other Operating Assets
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1601000 USD
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
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856000 USD
CY2019Q1 us-gaap Intangible Assets Net Excluding Goodwill
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765000 USD
CY2018Q1 us-gaap Interest Paid Net
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0 USD
CY2019Q1 us-gaap Interest Paid Net
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0 USD
CY2018Q4 us-gaap Inventory Land Held For Sale
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389000 USD
CY2019Q1 us-gaap Inventory Land Held For Sale
InventoryLandHeldForSale
391000 USD
CY2018Q4 us-gaap Inventory Operative Builders
InventoryOperativeBuilders
668961000 USD
CY2019Q1 us-gaap Inventory Operative Builders
InventoryOperativeBuilders
690817000 USD
CY2018Q4 us-gaap Inventory Real Estate
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668961000 USD
CY2019Q1 us-gaap Inventory Real Estate
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690817000 USD
CY2018Q4 us-gaap Inventory Real Estate Land And Land Development Costs
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399809000 USD
CY2019Q1 us-gaap Inventory Real Estate Land And Land Development Costs
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411833000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4434000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
558000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
734000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1011000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1235000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
896000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
438000 USD
CY2018Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2200000 USD
CY2019Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2200000 USD
CY2018Q4 us-gaap Liabilities
Liabilities
289863000 USD
CY2019Q1 us-gaap Liabilities
Liabilities
297068000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
784026000 USD
CY2019Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
793020000 USD
CY2018Q4 us-gaap Line Of Credit
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200386000 USD
CY2019Q1 us-gaap Line Of Credit
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206522000 USD
CY2018Q4 us-gaap Lines Of Credit Current
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200386000 USD
CY2019Q1 us-gaap Lines Of Credit Current
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206522000 USD
CY2017Q4 us-gaap Minority Interest
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16691000 USD
CY2018Q1 us-gaap Minority Interest
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10682000 USD
CY2018Q4 us-gaap Minority Interest
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17281000 USD
CY2019Q1 us-gaap Minority Interest
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4788000 USD
CY2018Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
8045000 USD
CY2019Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
10735000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19381000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5339000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-601000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-571000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-20221000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
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-9231000 USD
CY2018Q1 us-gaap Net Income Loss
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11203000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
12605000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2036000 USD
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1114000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
2036000 USD
CY2019Q1 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
-1758000 USD
CY2019Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
644000 USD
CY2018Q1 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
13239000 USD
CY2019Q1 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
10847000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
14505000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
11380000 USD
CY2019Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
300000 USD
CY2018Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
0 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3996000 USD
CY2019Q1 us-gaap Operating Lease Payments
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300000 USD
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3877000 USD
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0525
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y11M
CY2018Q4 us-gaap Other Assets
OtherAssets
8681000 USD
CY2019Q1 us-gaap Other Assets
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10258000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
570000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
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2093000 USD
CY2019Q1 us-gaap Payment For Contingent Consideration Liability Investing Activities
PaymentForContingentConsiderationLiabilityInvestingActivities
1800000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
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0 USD
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
60000 USD
CY2018Q1 us-gaap Payments Of Debt Issuance Costs
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150000 USD
CY2019Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
412000 USD
CY2019Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
544000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
601000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
571000 USD
CY2018Q1 us-gaap Payments To Minority Shareholders
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8045000 USD
CY2019Q1 us-gaap Payments To Minority Shareholders
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10735000 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
38000000 USD
CY2019Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
37000000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
13239000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
11491000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
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4690000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4464000 USD
CY2017Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
10474000 USD
CY2018Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
11221000 USD
CY2018Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
14780000 USD
CY2019Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
16526000 USD
CY2018Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
881000 USD
CY2019Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
1140000 USD
CY2018Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
1628000 USD
CY2019Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
2886000 USD
CY2018Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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8531000 USD
CY2019Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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10295000 USD
CY2018Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
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8531000 USD
CY2019Q1 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
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10295000 USD
CY2018Q1 us-gaap Repayments Of Lines Of Credit
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10000000 USD
CY2019Q1 us-gaap Repayments Of Lines Of Credit
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31000000 USD
CY2018Q1 us-gaap Repayments Of Notes Payable
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12000 USD
CY2019Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2017Q4 us-gaap Restricted Cash
RestrictedCash
3605000 USD
CY2018Q1 us-gaap Restricted Cash
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4403000 USD
CY2018Q4 us-gaap Restricted Cash
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3440000 USD
CY2019Q1 us-gaap Restricted Cash
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2741000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
125903000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
137106000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
177526000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
190131000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
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42724000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
33936000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
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15476000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
92136000 USD
CY2018Q1 us-gaap Revenues
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129163000 USD
CY2019Q1 us-gaap Revenues
Revenues
168628000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18129000 USD
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
23532000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0.00
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
160000 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.17
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
34000 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
34000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
12.00
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
12.00
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
160000 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
9.17
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
400000 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.49
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.00
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
630000 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
500000 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
500000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.49
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.49
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.00
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
504000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y6M28D
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
100000 shares
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
100000 shares
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
0 shares
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
0.00
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.88
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.88
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y6M28D
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
0 shares
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
0.00
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
485632000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
485657000 USD
CY2019Q1 us-gaap Temporary Equity Accretion To Redemption Value
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1120000 USD
CY2017Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
0 shares
CY2018Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
39228 shares
CY2019Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
59116 shares
CY2019Q1 us-gaap Short Term Lease Cost
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100000 USD
CY2018Q1 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
20000 shares
CY2018Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
106026 shares
CY2019Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
159780 shares
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1081000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1466000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
416347000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
428386000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
468351000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
480869000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
433038000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
439068000 USD
CY2018Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
0 shares
CY2018Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
136756 shares
CY2019Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
144618 shares
CY2018Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
981000 USD
CY2019Q1 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
1041000 USD
CY2019Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
7862 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
0 USD
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
0 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
981000 USD
CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
1041000 USD
CY2019Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
60000 USD
CY2018Q4 us-gaap Variable Interest Entity Consolidated Assets Not Pledged
VariableInterestEntityConsolidatedAssetsNotPledged
76300000 USD
CY2019Q1 us-gaap Variable Interest Entity Consolidated Assets Not Pledged
VariableInterestEntityConsolidatedAssetsNotPledged
79700000 USD
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
141000 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
42000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50718000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50605000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50577000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50563000 shares
CY2019Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Basis of Presentation</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (&#8220;GAAP&#8221;) as set forth in the Financial Accounting Standards Board&#8217;s (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) and applicable regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;), but do not include all of the information and footnotes required for complete financial statements. The condensed consolidated balance sheet as of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> was derived from the audited consolidated financial statements included in the Company&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. In the opinion of management the accompanying unaudited condensed consolidated financial statements for the periods presented reflect all adjustments of a normal, recurring nature necessary to fairly state our financial position, results of operations and cash flows. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating results for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months&#160;ended&#160;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">&#160;are not necessarily indicative of the results that may be expected for the fiscal year ending&#160;</font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">&#160;or subsequent periods.</font></div></div>
CY2019Q1 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:8px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Reclassifications</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior period amounts have been reclassified to conform to the current period presentation. </font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Beginning in the first quarter of 2019, the Company reclassified its sales commission expenses from cost of residential units to selling, general and administrative expense in the consolidated statements of income in order to be more readily comparable with a majority of its peers. </font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For a complete set of the Company&#8217;s significant accounting policies, refer to Note 1 of the Company&#8217;s Annual Report on Form 10-K for the year ended&#160;</font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">.&#160;Changes and additions to significant accounting policies during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months&#160;ended&#160;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> are presented below.</font></div></div>
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Use of Estimates</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the condensed consolidated financial statements in conformity with GAAP requires management of the Company to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes, including the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</font></div></div>

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