2015 Q2 Form 10-Q Financial Statement

#000156103215000010 Filed on May 14, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $59.52M $57.12M $1.387M
YoY Change 1974.45% 4018.31%
Cost Of Revenue
YoY Change
Gross Profit $30.89M $29.64M $1.093M
YoY Change 1347.38% 2612.17%
Gross Profit Margin 51.9% 51.9% 78.8%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.45M $857.0K
YoY Change 3336.17%
% of Gross Profit 99.34% 78.41%
Operating Expenses $71.34M $61.52M $1.967M
YoY Change 1033.51% 3027.76% 4085.11%
Operating Profit -$11.38M -$4.402M -$580.0K
YoY Change 232.18% 658.97% 1134.04%
Interest Expense $2.384M $1.373M $3.000K
YoY Change 221.29% 45666.67%
% of Operating Profit
Other Income/Expense, Net -$2.168M -$814.0K -$2.000K
YoY Change 200.28% 40600.0%
Pretax Income -$13.55M -$5.216M -$582.0K
YoY Change 226.62% 796.22%
Income Tax -$47.00K $29.00K $0.00
% Of Pretax Income
Net Earnings -$13.42M -$5.220M -$582.0K
YoY Change 223.63% 796.91% 1138.3%
Net Earnings / Revenue -22.55% -9.14% -41.96%
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 84.73M shares 84.53M shares 13.62M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $109.5M $98.66M $406.3M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.982B $1.876B $481.8M
YoY Change 66.08% 289.36% 16059033.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $306.2M $166.8M $4.974M
YoY Change 304.01% 3254.28%
SHAREHOLDERS EQUITY
Retained Earnings -$219.4M -$170.0M -$10.27M
YoY Change 640.64% 1554.93%
Common Stock $852.0K $845.0K $223.0K
YoY Change 63.53% 278.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 1.600K shares
Shareholders Equity $1.666B $1.699B $476.8M
YoY Change
Total Liabilities & Shareholders Equity $1.982B $1.876B $481.8M
YoY Change 66.08% 289.36% 16059033.33%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$13.42M -$5.220M -$582.0K
YoY Change 223.63% 796.91% 1138.3%
Depreciation, Depletion And Amortization $29.45M $857.0K
YoY Change 3336.17%
Cash From Operating Activities $24.53M $1.301M
YoY Change 1785.55%
INVESTING ACTIVITIES
Capital Expenditures $1.088M $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$89.51M -$20.59M
YoY Change 334.8%
FINANCING ACTIVITIES
Cash Dividend Paid $16.01M $1.925M
YoY Change 731.64%
Common Stock Issuance & Retirement, Net $1.286M -$358.0M
YoY Change -100.36%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$18.98M $313.8M
YoY Change -106.05%
NET CHANGE
Cash From Operating Activities $24.53M $1.301M
Cash From Investing Activities -$89.51M -$20.59M
Cash From Financing Activities -$18.98M $313.8M
Net Change In Cash -$83.96M $294.5M
YoY Change -128.51%
FREE CASH FLOW
Cash From Operating Activities $24.53M $1.301M
Capital Expenditures $1.088M $0.00
Free Cash Flow $23.44M $1.301M
YoY Change 1701.92%

Facts In Submission

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arct Numberof Share Repurchase Requests
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CY2015Q1 arct Numberof Share Repurchase Requests
NumberofShareRepurchaseRequests
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CY2015Q1 arct Numberof Unfulfilled Repurchase Requests
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CY2015Q1 arct Unfulfilled Treasury Stock Acquired Average Cost Per Share
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CY2015Q1 dei Amendment Flag
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CY2015Q1 dei Document Fiscal Year Focus
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CY2015Q1 dei Document Period End Date
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CY2015Q1 dei Document Type
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CY2015Q1 dei Entity Central Index Key
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CY2015Q2 dei Entity Common Stock Shares Outstanding
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CY2015Q1 dei Entity Filer Category
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CY2015Q1 dei Entity Registrant Name
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CY2014Q1 us-gaap Interest Expense
InterestExpense
3000 USD
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InterestExpense
1373000 USD
CY2014Q1 us-gaap Interest Paid
InterestPaid
0 USD
CY2015Q1 us-gaap Interest Paid
InterestPaid
1229000 USD
CY2014Q1 us-gaap Investment Income Net
InvestmentIncomeNet
1000 USD
CY2015Q1 us-gaap Investment Income Net
InvestmentIncomeNet
273000 USD
CY2014Q4 us-gaap Land
Land
113461000 USD
CY2015Q1 us-gaap Land
Land
129353000 USD
CY2014Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
6000 USD
CY2015Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
100000 USD
CY2014Q4 us-gaap Liabilities
Liabilities
125533000 USD
CY2015Q1 us-gaap Liabilities
Liabilities
166842000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1857710000 USD
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1875824000 USD
CY2014Q1 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
90 shares
CY2015Q1 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
90 shares
CY2014Q4 us-gaap Minority Interest
MinorityInterest
10114000 USD
CY2015Q1 us-gaap Minority Interest
MinorityInterest
9911000 USD
CY2015Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
178000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
313792000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-19190000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-20586000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-89508000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1301000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
24739000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-582000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-5245000 USD
CY2014Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
CY2015Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-25000 USD
CY2014Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2000 USD
CY2015Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-814000 USD
CY2014Q1 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
3 property
CY2015Q1 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
10 property
CY2015Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
128 property
CY2014Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2015Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2014Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
19535000 USD
CY2015Q1 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
23674000 USD
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
1967000 USD
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
61523000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-580000 USD
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4402000 USD
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
18258000 USD
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
354000 USD
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
349000 USD
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
344000 USD
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
340000 USD
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
16619000 USD
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
909653000 USD
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
70318000 USD
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
252000 USD
CY2014Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
1127000 USD
CY2015Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
50638000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
331000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
45000 USD
CY2014Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1000 USD
CY2015Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
273000 USD
CY2014Q1 us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
484000 USD
CY2015Q1 us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
0 USD
CY2014Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
0 USD
CY2015Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
3000000 USD
CY2014Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
40000 USD
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1292000 USD
CY2014Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1925000 USD
CY2015Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
16009000 USD
CY2014Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0 USD
CY2015Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
178000 USD
CY2014Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1285000 USD
CY2015Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
594000 USD
CY2014Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
40556000 USD
CY2015Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
629000 USD
CY2014Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
0 USD
CY2015Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
49000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1088000 USD
CY2014Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
18340000 USD
CY2015Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
90553000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
17036000 USD
CY2015Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
19628000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2078600000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2100000000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
358082000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6000 USD
CY2014Q1 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
0 USD
CY2015Q1 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
-208000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
CY2015Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
4207000 USD
CY2014Q1 us-gaap Profit Loss
ProfitLoss
-582000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
-5220000 USD
CY2014Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
CY2015Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
667000 USD
CY2014Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
30947000 USD
CY2015Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
60852000 USD
CY2014Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1662697000 USD
CY2015Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1795545000 USD
CY2014Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1631750000 USD
CY2015Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1734693000 USD
CY2015Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
286000 USD
CY2014Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
0 USD
CY2015Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
286000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1778000 USD
CY2015Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1986000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-129406000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-169978000 USD
CY2014Q1 us-gaap Revenues
Revenues
1387000 USD
CY2015Q1 us-gaap Revenues
Revenues
57121000 USD
CY2014Q4 us-gaap Secured Debt
SecuredDebt
65786000 USD
CY2015Q1 us-gaap Secured Debt
SecuredDebt
97036000 USD
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
9000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1000 USD
CY2015Q1 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
800000 shares
CY2014Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
2047000 USD
CY2015Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
19235000 USD
CY2015Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1000 USD
CY2015Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
69339 shares
CY2015Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1703000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
1722063000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
1699071000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1732177000 USD
CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1708982000 USD
CY2014Q1 us-gaap Tenant Reimbursements
TenantReimbursements
260000 USD
CY2015Q1 us-gaap Tenant Reimbursements
TenantReimbursements
3130000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
24.42
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
24.32
CY2015Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
24.21
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
74031 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
144371 shares
CY2015Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
70340 shares
CY2014Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
CY2015Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
45000 USD
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
13623545 shares
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
84250503 shares

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