$LGIH
LGI Homes, Inc.

2017 Q2 Form 10-Q Financial Statement

#000158067017000056 Filed on August 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $324.2M $222.7M
YoY Change 45.55% 40.23%
Cost Of Revenue $237.8M $163.6M
YoY Change 45.35% 40.75%
Gross Profit $86.35M $59.10M
YoY Change 46.12% 38.81%
Gross Profit Margin 26.64% 26.53%
Selling, General & Admin $37.87M $28.36M
YoY Change 33.57% 32.9%
% of Gross Profit 43.86% 47.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $200.0K $200.0K
YoY Change 0.0% 0.0%
% of Gross Profit 0.23% 0.34%
Operating Expenses $37.87M $28.36M
YoY Change 33.57% 32.9%
Operating Profit $48.48M $30.74M
YoY Change 57.69% 44.75%
Interest Expense $0.00 $0.00
YoY Change
% of Operating Profit 0.0% 0.0%
Other Income/Expense, Net $200.0K $700.0K
YoY Change -71.43%
Pretax Income $48.64M $31.41M
YoY Change 54.87% 47.83%
Income Tax $16.44M $10.75M
% Of Pretax Income 33.8% 34.22%
Net Earnings $32.20M $20.66M
YoY Change 55.86% 47.81%
Net Earnings / Revenue 9.93% 9.28%
Basic Earnings Per Share $1.49 $1.01
Diluted Earnings Per Share $1.39 $0.96
COMMON SHARES
Basic Shares Outstanding 21.60M shares 20.54M shares
Diluted Shares Outstanding 23.24M shares 21.49M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.30M $49.70M
YoY Change -45.07% 0.0%
Cash & Equivalents $27.30M $49.67M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $836.0M $609.9M
Prepaid Expenses
Receivables $34.10M $15.10M
Other Receivables $0.00 $0.00
Total Short-Term Assets $897.4M $674.7M
YoY Change 33.01% 43.07%
LONG-TERM ASSETS
Property, Plant & Equipment $1.877M $1.950M
YoY Change -3.74% -6.07%
Goodwill $12.02M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.90M $12.70M
YoY Change 9.45% 60.76%
Total Long-Term Assets $34.28M $32.75M
YoY Change 4.68% 3.8%
TOTAL ASSETS
Total Short-Term Assets $897.4M $674.7M
Total Long-Term Assets $34.28M $32.75M
Total Assets $931.7M $707.4M
YoY Change 31.7% 40.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.00M $22.00M
YoY Change -13.64% -10.93%
Accrued Expenses $43.00M $31.20M
YoY Change 37.82% 60.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $74.50M $64.10M
YoY Change 16.22% 28.97%
LONG-TERM LIABILITIES
Long-Term Debt $442.9M $334.2M
YoY Change 32.53% 39.31%
Other Long-Term Liabilities $7.900M $5.900M
YoY Change 33.9% -9.23%
Total Long-Term Liabilities $450.8M $340.1M
YoY Change 32.55% 38.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $74.50M $64.10M
Total Long-Term Liabilities $450.8M $340.1M
Total Liabilities $525.3M $406.5M
YoY Change 29.22% 36.37%
SHAREHOLDERS EQUITY
Retained Earnings $207.2M $120.5M
YoY Change 71.9% 111.42%
Common Stock $226.0K $220.0K
YoY Change 2.73% 5.26%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.55M $16.55M
YoY Change 0.0% 0.0%
Treasury Stock Shares 1.000M shares 1.000M shares
Shareholders Equity $406.4M $300.9M
YoY Change
Total Liabilities & Shareholders Equity $931.7M $707.4M
YoY Change 31.7% 40.6%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $32.20M $20.66M
YoY Change 55.86% 47.81%
Depreciation, Depletion And Amortization $200.0K $200.0K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$20.50M -$24.00M
YoY Change -14.58% -766.67%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K -$200.0K
YoY Change -50.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$100.0K -$200.0K
YoY Change -50.0% 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 16.30M 26.20M
YoY Change -37.79% 254.05%
NET CHANGE
Cash From Operating Activities -20.50M -24.00M
Cash From Investing Activities -100.0K -200.0K
Cash From Financing Activities 16.30M 26.20M
Net Change In Cash -4.300M 2.000M
YoY Change -315.0% -81.48%
FREE CASH FLOW
Cash From Operating Activities -$20.50M -$24.00M
Capital Expenditures -$100.0K -$200.0K
Free Cash Flow -$20.40M -$23.80M
YoY Change -14.29% -726.32%

Facts In Submission

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6453000 USD
CY2016Q4 us-gaap Other Liabilities
OtherLiabilities
5446000 USD
CY2017Q2 us-gaap Other Liabilities
OtherLiabilities
7933000 USD
CY2016Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
668000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1171000 USD
CY2017Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
167000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
882000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
358000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
323000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2361000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4359000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
19804000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5503000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
67000000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
60000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-441000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-308000 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
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1600000 USD
CY2017Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1650000 USD
CY2017Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1850000 USD
CY2016Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
897000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1406000 USD
CY2017Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
647000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
949000 USD
CY2016Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
947000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1456000 USD
CY2017Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
847000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1199000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1960000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1877000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
37000000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
15000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
163182000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
207161000 USD
CY2016Q4 us-gaap Retention Payable
RetentionPayable
8506000 USD
CY2017Q2 us-gaap Retention Payable
RetentionPayable
14079000 USD
CY2016Q2 us-gaap Revenues
Revenues
222723000 USD
us-gaap Revenues
Revenues
385186000 USD
CY2017Q2 us-gaap Revenues
Revenues
324178000 USD
us-gaap Revenues
Revenues
487089000 USD
CY2016Q2 us-gaap Selling Expense
SellingExpense
17867000 USD
us-gaap Selling Expense
SellingExpense
31958000 USD
CY2017Q2 us-gaap Selling Expense
SellingExpense
24193000 USD
us-gaap Selling Expense
SellingExpense
40300000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1525000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1580000 USD
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
743554 shares
CY2017Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
4990 shares
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
154900 shares
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4761000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
673000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
355201000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
406361000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1000000 shares
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1000000 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
16550000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
16550000 USD
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
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23242589 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23032648 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
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21602261 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21481842 shares

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