2012 Q4 Form 10-Q Financial Statement

#000110465912077410 Filed on November 13, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $30.20M $30.53M $172.8M
YoY Change -82.33% -25.18%
Cost Of Revenue $172.5M
YoY Change -24.77%
Gross Profit -$172.5M
YoY Change -24.77%
Gross Profit Margin -99.84%
Selling, General & Admin $20.90M $21.60M
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $20.90M $21.60M $0.00
YoY Change
Operating Profit -$172.5M
YoY Change -24.77%
Interest Expense -$3.500M $114.8M $172.5M
YoY Change -102.29% -33.45% -24.76%
% of Operating Profit
Other Income/Expense, Net -$1.963M -$100.0K
YoY Change 1863.0% -108.33%
Pretax Income $3.000M $6.962M $5.393M
YoY Change 30.43% 29.09% 136.43%
Income Tax $1.200M $8.000K $957.0K
% Of Pretax Income 40.0% 0.11% 17.75%
Net Earnings -$500.0K -$2.279M $3.102M
YoY Change -171.43% -173.47% 218.48%
Net Earnings / Revenue -1.66% -7.47% 1.8%
Basic Earnings Per Share -$0.29 $0.40
Diluted Earnings Per Share -$61.73K -$0.29 $0.37
COMMON SHARES
Basic Shares Outstanding 7.925M shares 7.855M shares 7.812M shares
Diluted Shares Outstanding 7.855M shares 8.345M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.00M $8.000M $9.000M
YoY Change 62.5% -11.11% -18.18%
Cash & Equivalents $12.71M $8.031M $8.716M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $13.00M $8.000M $9.000M
YoY Change 62.5% -11.11% -18.18%
LONG-TERM ASSETS
Property, Plant & Equipment $2.470M
YoY Change -16.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.042M $0.00 $0.00
YoY Change -42.96% -100.0%
Other Assets $3.000M $3.000M $5.000M
YoY Change -40.0% -40.0% 150.0%
Total Long-Term Assets $5.974B $5.959B $5.588B
YoY Change 6.59% 6.64% -10.02%
TOTAL ASSETS
Total Short-Term Assets $13.00M $8.000M $9.000M
Total Long-Term Assets $5.974B $5.959B $5.588B
Total Assets $5.987B $5.967B $5.597B
YoY Change 6.67% 6.61% -10.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $108.0M $132.0M $47.00M
YoY Change 83.05% 180.85%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $108.0M $132.0M $47.00M
YoY Change 83.05% 180.85%
LONG-TERM LIABILITIES
Long-Term Debt $16.00M $5.742B $5.464B
YoY Change -99.71% 5.09% -10.13%
Other Long-Term Liabilities $5.833B $64.00M $56.00M
YoY Change 11337.25% 14.29% -50.88%
Total Long-Term Liabilities $5.849B $5.806B $5.520B
YoY Change 5.9% 5.18% -10.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $108.0M $132.0M $47.00M
Total Long-Term Liabilities $5.849B $5.806B $5.520B
Total Liabilities $5.957B $5.938B $5.567B
YoY Change 6.73% 6.68% -10.13%
SHAREHOLDERS EQUITY
Retained Earnings -$1.050B -$1.050B -$1.048B
YoY Change 0.32% 0.2%
Common Stock $85.00K $79.00K $78.00K
YoY Change 8.97% 1.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $28.96M $28.06M $29.11M
YoY Change
Total Liabilities & Shareholders Equity $5.987B $5.967B $5.597B
YoY Change 6.67% 6.61% -10.03%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income -$500.0K -$2.279M $3.102M
YoY Change -171.43% -173.47% 218.48%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $78.20M $24.20M $57.90M
YoY Change 81.44% -58.2% -1.53%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K $0.00 -$200.0K
YoY Change -300.0% -100.0% -66.67%
Acquisitions
YoY Change
Other Investing Activities $169.2M $213.9M $192.4M
YoY Change -11.04% 11.17% -11.34%
Cash From Investing Activities $169.1M $213.9M $192.2M
YoY Change -11.14% 11.29% -11.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -242.6M -236.4M -250.3M
YoY Change 3.5% -5.55% -10.51%
NET CHANGE
Cash From Operating Activities 78.20M 24.20M 57.90M
Cash From Investing Activities 169.1M 213.9M 192.2M
Cash From Financing Activities -242.6M -236.4M -250.3M
Net Change In Cash 4.700M 1.700M -200.0K
YoY Change -570.0% -950.0% -95.56%
FREE CASH FLOW
Cash From Operating Activities $78.20M $24.20M $57.90M
Capital Expenditures -$200.0K $0.00 -$200.0K
Free Cash Flow $78.40M $24.20M $58.10M
YoY Change 82.33% -58.35% -2.19%

Facts In Submission

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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.22
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.18
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.37
CY2012Q3 imh Non Interest Expense And Income Taxes
NonInterestExpenseAndIncomeTaxes
21610000 USD
CY2012Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
297000 USD
CY2012Q3 us-gaap Noninterest Income
NoninterestIncome
28267000 USD
CY2012Q3 imh Non Interest Loss Income Of Net Trust Assets
NonInterestLossIncomeOfNetTrustAssets
-2450000 USD
imh Non Interest Loss Income Of Net Trust Assets
NonInterestLossIncomeOfNetTrustAssets
-4199000 USD
imh Non Interest Expense And Income Taxes
NonInterestExpenseAndIncomeTaxes
53202000 USD
CY2011Q3 imh Non Interest Expense And Income Taxes
NonInterestExpenseAndIncomeTaxes
20061000 USD
imh Non Interest Expense And Income Taxes
NonInterestExpenseAndIncomeTaxes
52726000 USD
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.35
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-1490000 USD
CY2011Q3 us-gaap Profit Loss
ProfitLoss
2946000 USD
CY2012Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
6742000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
10545000 USD
CY2011Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
4592000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
4308000 USD
CY2011Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-156000 USD
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
3102000 USD
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7855000 shares
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
4635000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7840000 shares
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7812000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7798000 shares
CY2011Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
533000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7855000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7840000 shares
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8345000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8355000 shares
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
978000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
3657000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-1832000 USD
us-gaap Profit Loss
ProfitLoss
1825000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-651000 USD
us-gaap Net Income Loss
NetIncomeLoss
2476000 USD
CY2011Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.59
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.19
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.40
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.55
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1100000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1100000 shares
CY2011Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
552000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
552000 shares
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 segment
CY2011Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.55
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
683000 USD
CY2012Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
212000 USD
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-9021000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-13402000 USD
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-1.15
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-1.71
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
1874000 USD
us-gaap Noninterest Income
NoninterestIncome
62556000 USD
us-gaap Noninterest Expense
NoninterestExpense
53158000 USD
CY2012Q3 us-gaap Noninterest Expense
NoninterestExpense
21602000 USD
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
6962000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
11272000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
11228000 USD
CY2012Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
6954000 USD
CY2012Q3 us-gaap Profit Loss
ProfitLoss
-2067000 USD
us-gaap Profit Loss
ProfitLoss
-2174000 USD
us-gaap Net Income Loss
NetIncomeLoss
-2857000 USD
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
-2279000 USD
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.29
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.36
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.29
CY2012Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.86
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.35
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-1.15
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-1.71
us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
-825447000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
9688000 USD
CY2011Q3 imh Noninterest Income Other Operating Income Excluding Long Term Debt Change In Fair Value
NoninterestIncomeOtherOperatingIncomeExcludingLongTermDebtChangeInFairValue
2939000 USD
imh Noninterest Income Other Operating Income Excluding Long Term Debt Change In Fair Value
NoninterestIncomeOtherOperatingIncomeExcludingLongTermDebtChangeInFairValue
3307000 USD
CY2012Q3 imh Noninterest Income Other Operating Income Excluding Long Term Debt Change In Fair Value
NoninterestIncomeOtherOperatingIncomeExcludingLongTermDebtChangeInFairValue
617000 USD
imh Noninterest Income Other Operating Income Excluding Long Term Debt Change In Fair Value
NoninterestIncomeOtherOperatingIncomeExcludingLongTermDebtChangeInFairValue
1353000 USD
CY2011Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
4141000 USD
CY2012Q3 us-gaap Management Fees Revenue
ManagementFeesRevenue
24324000 USD
us-gaap Management Fees Revenue
ManagementFeesRevenue
48587000 USD
CY2011Q3 us-gaap Management Fees Revenue
ManagementFeesRevenue
4574000 USD
us-gaap Management Fees Revenue
ManagementFeesRevenue
7670000 USD
CY2012Q3 us-gaap Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
131690000 USD
CY2012Q3 us-gaap Long Term Debt
LongTermDebt
12274000 USD
CY2012Q3 us-gaap Notes Payable
NotesPayable
4507000 USD
CY2012Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
19264000 USD
CY2012Q3 us-gaap Other Liabilities
OtherLiabilities
26009000 USD
CY2012Q3 us-gaap Common Stock Value
CommonStockValue
79000 USD
CY2012Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7653000 USD
CY2011Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
172779000 USD
CY2011Q3 us-gaap Interest Expense
InterestExpense
172497000 USD
CY2011Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
282000 USD
CY2011Q3 us-gaap Fees And Commissions Mortgage Banking
FeesAndCommissionsMortgageBanking
4574000 USD
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
557000 shares
CY2012Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
2601000 USD
CY2012Q3 us-gaap Financial Instruments Owned And Pledged As Collateral At Fair Value
FinancialInstrumentsOwnedAndPledgedAsCollateralAtFairValue
112000 USD
CY2012Q3 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
5738150000 USD
CY2012Q3 us-gaap Derivative Assets
DerivativeAssets
37000 USD
CY2012Q3 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
26502000 USD
CY2012Q3 us-gaap Loans Held For Sale Mortgages
LoansHeldForSaleMortgages
145346000 USD
CY2012Q3 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
9317000 USD
CY2012Q3 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
125000 USD
CY2012Q3 us-gaap Other Assets
OtherAssets
36853000 USD
CY2012Q3 imh Securitized Mortgage Borrowings
SecuritizedMortgageBorrowings
5725469000 USD
CY2012Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
19112000 USD
CY2012Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1077666000 USD
CY2012Q3 imh Cumulative Dividends Declared
CumulativeDividendsDeclared
-822520000 USD
CY2012Q3 us-gaap Retained Earnings Unappropriated
RetainedEarningsUnappropriated
-227191000 USD
CY2011Q3 us-gaap Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
1780000 USD
imh Notes Received Upon Disposition Of Interest In Subsidiary
NotesReceivedUponDispositionOfInterestInSubsidiary
200000 USD
CY2012Q3 imh Us Economy Growth Rate
USEconomyGrowthRate
0.02 pure
CY2012Q2 imh Us Economy Growth Rate
USEconomyGrowthRate
0.013 pure
CY2012Q3 imh Us National Average Unemployment Rates
USNationalAverageUnemploymentRates
0.0780 pure
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
250000 shares
CY2012Q3 us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
6100000 USD
CY2012Q3 imh Loss Contingency Estimated Losses In Number Of Cases
LossContingencyEstimatedLossesInNumberOfCases
2 item
CY2012Q3 imh Repuchase Reserve Discontinued Operations Additional Provision
RepuchaseReserveDiscontinuedOperationsAdditionalProvision
1800000 USD
CY2012Q3 imh Repuchase Reserve Discontinued Operations
RepuchaseReserveDiscontinuedOperations
8000000 USD
CY2011Q4 imh Repuchase Reserve Discontinued Operations
RepuchaseReserveDiscontinuedOperations
5200000 USD

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