$LGIH
LGI Homes, Inc.

2016 Q2 Form 10-Q Financial Statement

#000158067016000222 Filed on August 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $222.7M $158.8M
YoY Change 40.23% 49.26%
Cost Of Revenue $163.6M $116.3M
YoY Change 40.75% 49.01%
Gross Profit $59.10M $42.57M
YoY Change 38.81% 49.93%
Gross Profit Margin 26.53% 26.8%
Selling, General & Admin $28.36M $21.34M
YoY Change 32.9% 46.91%
% of Gross Profit 47.98% 50.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $200.0K $200.0K
YoY Change 0.0% 100.0%
% of Gross Profit 0.34% 0.47%
Operating Expenses $28.36M $21.34M
YoY Change 32.9% 46.91%
Operating Profit $30.74M $21.24M
YoY Change 44.75% 53.08%
Interest Expense $0.00 $0.00
YoY Change
% of Operating Profit 0.0% 0.0%
Other Income/Expense, Net $700.0K $0.00
YoY Change
Pretax Income $31.41M $21.25M
YoY Change 47.83% 52.8%
Income Tax $10.75M $7.269M
% Of Pretax Income 34.22% 34.21%
Net Earnings $20.66M $13.98M
YoY Change 47.81%
Net Earnings / Revenue 9.28% 8.8%
Basic Earnings Per Share $1.01 $0.70
Diluted Earnings Per Share $0.96 $0.66
COMMON SHARES
Basic Shares Outstanding 20.54M shares 19.91M shares
Diluted Shares Outstanding 21.49M shares 21.25M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $49.70M $49.70M
YoY Change 0.0% 15.85%
Cash & Equivalents $49.67M $49.75M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $609.9M $407.1M
Prepaid Expenses
Receivables $15.10M $14.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $674.7M $471.6M
YoY Change 43.07% 72.94%
LONG-TERM ASSETS
Property, Plant & Equipment $1.950M $2.076M
YoY Change -6.07% 73.72%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $12.70M $7.900M
YoY Change 60.76% -42.75%
Total Long-Term Assets $32.75M $31.55M
YoY Change 3.8% 0.46%
TOTAL ASSETS
Total Short-Term Assets $674.7M $471.6M
Total Long-Term Assets $32.75M $31.55M
Total Assets $707.4M $503.1M
YoY Change 40.6% 65.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.00M $24.70M
YoY Change -10.93% 27.32%
Accrued Expenses $31.20M $19.50M
YoY Change 60.0% 387.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $64.10M $49.70M
YoY Change 28.97% -58.41%
LONG-TERM LIABILITIES
Long-Term Debt $334.2M $239.9M
YoY Change 39.31%
Other Long-Term Liabilities $5.900M $6.500M
YoY Change -9.23% 16.07%
Total Long-Term Liabilities $340.1M $246.4M
YoY Change 38.03% 4300.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $64.10M $49.70M
Total Long-Term Liabilities $340.1M $246.4M
Total Liabilities $406.5M $298.1M
YoY Change 36.37% 138.32%
SHAREHOLDERS EQUITY
Retained Earnings $120.5M $57.00M
YoY Change 111.42% 174.82%
Common Stock $220.0K $209.0K
YoY Change 5.26% 0.48%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.55M $16.55M
YoY Change 0.0%
Treasury Stock Shares 1.000M shares 1.000M shares
Shareholders Equity $300.9M $205.1M
YoY Change
Total Liabilities & Shareholders Equity $707.4M $503.1M
YoY Change 40.6% 65.45%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $20.66M $13.98M
YoY Change 47.81%
Depreciation, Depletion And Amortization $200.0K $200.0K
YoY Change 0.0% 100.0%
Cash From Operating Activities -$24.00M $3.600M
YoY Change -766.67% -113.79%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K -$200.0K
YoY Change 0.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$200.0K -$200.0K
YoY Change 0.0% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 26.20M 7.400M
YoY Change 254.05% -82.99%
NET CHANGE
Cash From Operating Activities -24.00M 3.600M
Cash From Investing Activities -200.0K -200.0K
Cash From Financing Activities 26.20M 7.400M
Net Change In Cash 2.000M 10.80M
YoY Change -81.48% -37.21%
FREE CASH FLOW
Cash From Operating Activities -$24.00M $3.600M
Capital Expenditures -$200.0K -$200.0K
Free Cash Flow -$23.80M $3.800M
YoY Change -726.32% -114.67%

Facts In Submission

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CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
21237000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
32912000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
30740000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
48066000 USD
CY2015Q4 us-gaap Other Assets
OtherAssets
11238000 USD
CY2016Q2 us-gaap Other Assets
OtherAssets
6005000 USD
CY2015Q4 us-gaap Other Liabilities
OtherLiabilities
3092000 USD
CY2016Q2 us-gaap Other Liabilities
OtherLiabilities
5865000 USD
CY2015Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
9000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
55000 USD
CY2016Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
668000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1171000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
417000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
358000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1827000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2361000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
19804000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
177802000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
67000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-608000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-441000 USD
CY2014Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
900000 USD
CY2015Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
900000 USD
CY2015Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1000000 USD
CY2015Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1325000 USD
CY2016Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1325000 USD
CY2016Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1375000 USD
CY2015Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
554000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
942000 USD
CY2016Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
897000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1406000 USD
CY2015Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
654000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1042000 USD
CY2016Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
947000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1456000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2108000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1950000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
154706000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
37000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
88151000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
120510000 USD
CY2015Q4 us-gaap Retention Payable
RetentionPayable
3748000 USD
CY2016Q2 us-gaap Retention Payable
RetentionPayable
4691000 USD
CY2015Q2 us-gaap Revenues
Revenues
158826000 USD
us-gaap Revenues
Revenues
279516000 USD
CY2016Q2 us-gaap Revenues
Revenues
222723000 USD
us-gaap Revenues
Revenues
385186000 USD
CY2015Q2 us-gaap Selling Expense
SellingExpense
13393000 USD
us-gaap Selling Expense
SellingExpense
24975000 USD
CY2016Q2 us-gaap Selling Expense
SellingExpense
17867000 USD
us-gaap Selling Expense
SellingExpense
31958000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
671000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1525000 USD
CY2016Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
593554 shares
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
743554 shares
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
19497000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
24000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
247389000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
300932000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1000000 shares
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1000000 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
16550000 USD
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
16550000 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21246875 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22536841 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21487013 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21017188 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19908482 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19880569 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20544809 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20416566 shares

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