2015 Q3 Form 10-Q Financial Statement

#000156103215000014 Filed on August 12, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q2
Revenue $64.03M $59.52M $2.869M
YoY Change 441.8% 1974.45% 10525.93%
Cost Of Revenue
YoY Change
Gross Profit $30.49M $30.89M $2.134M
YoY Change 300.3% 1347.38%
Gross Profit Margin 47.61% 51.9% 74.38%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $77.74M $71.34M $6.294M
YoY Change 153.23% 1033.51% 4301.4%
Operating Profit -$13.71M -$11.38M -$3.425M
YoY Change -27.4% 232.18% 2852.59%
Interest Expense $3.081M $2.384M $742.0K
YoY Change 117.28% 221.29%
% of Operating Profit
Other Income/Expense, Net -$2.855M -$2.168M -$722.0K
YoY Change 149.78% 200.28%
Pretax Income -$16.56M -$13.55M -$4.147M
YoY Change -17.29% 226.62%
Income Tax -$369.0K -$47.00K $0.00
% Of Pretax Income
Net Earnings -$16.11M -$13.42M -$4.147M
YoY Change -19.55% 223.63% 3475.0%
Net Earnings / Revenue -25.16% -22.55% -144.55%
Basic Earnings Per Share -$0.12
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 85.44M shares 84.73M shares 35.13M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $47.75M $109.5M $964.3M
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 $1.994B $1.982B $1.194B
YoY Change 10.15% 66.08% 4491.18%
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 $355.9M $306.2M $75.78M
YoY Change 267.13% 304.01% 5415.21%
SHAREHOLDERS EQUITY
Retained Earnings -$272.3M -$219.4M -$29.63M
YoY Change 237.35% 640.64% 9395.83%
Common Stock $858.0K $852.0K $521.0K
YoY Change 5.41% 63.53% 4241.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 9.614K shares
Shareholders Equity $1.628B $1.666B $1.118B
YoY Change
Total Liabilities & Shareholders Equity $1.994B $1.982B $1.194B
YoY Change 10.15% 66.08% 4491.18%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$16.11M -$13.42M -$4.147M
YoY Change -19.55% 223.63% 3475.0%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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MinorityInterest
10159000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
353000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
942078000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
87319000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-88822000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-202173000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-762000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
41726000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-4147000 USD
us-gaap Net Income Loss
NetIncomeLoss
-4729000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-13498000 USD
us-gaap Net Income Loss
NetIncomeLoss
-18743000 USD
CY2014Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
CY2015Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-77000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-102000 USD
us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
500000 USD
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-722000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-724000 USD
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1718000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2532000 USD
CY2015Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
143 property
CY2014Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2015Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2015Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
26 state
CY2014Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
19535000 USD
CY2015Q2 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
24705000 USD
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
6294000 USD
us-gaap Operating Expenses
OperatingExpenses
8261000 USD
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
71343000 USD
us-gaap Operating Expenses
OperatingExpenses
132866000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-11827000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-3425000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-4005000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-16229000 USD
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
18174000 USD
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
354000 USD
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
349000 USD
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
344000 USD
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
340000 USD
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
16619000 USD
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
881416000 USD
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
73821000 USD
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
78566000 USD
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
82132000 USD
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
83697000 USD
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
42436000 USD
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
520764000 USD
CY2015Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
168000 USD
CY2014Q2 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
2314000 USD
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
3441000 USD
CY2015Q2 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
53195000 USD
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
103833000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-44000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-330000 USD
CY2014Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
20000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
21000 USD
CY2015Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
666000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
939000 USD
us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
632000 USD
us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
0 USD
us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
12060000 USD
us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
3680000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
40000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3350000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
7407000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
32583000 USD
CY2014Q2 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0 USD
CY2015Q2 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
200000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
353000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5060000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
10667000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
119141000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
629000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
0 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
48000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3129000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
76762000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
199523000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
17036000 USD
CY2015Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
23922000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2100000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1074428000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
135000000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
500000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
4207000 USD
CY2014Q2 us-gaap Profit Loss
ProfitLoss
-4147000 USD
us-gaap Profit Loss
ProfitLoss
-4729000 USD
CY2015Q2 us-gaap Profit Loss
ProfitLoss
-13421000 USD
us-gaap Profit Loss
ProfitLoss
-18641000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1364000 USD
CY2014Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
30947000 USD
CY2015Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
91622000 USD
CY2014Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1662697000 USD
CY2015Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1907906000 USD
CY2014Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1631750000 USD
CY2015Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1816284000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
286000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
70000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
605000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1778000 USD
CY2015Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3201000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-129406000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-219430000 USD
CY2014Q2 us-gaap Revenues
Revenues
2869000 USD
us-gaap Revenues
Revenues
4256000 USD
CY2015Q2 us-gaap Revenues
Revenues
59516000 USD
us-gaap Revenues
Revenues
116637000 USD
CY2014Q4 us-gaap Secured Debt
SecuredDebt
65786000 USD
CY2015Q2 us-gaap Secured Debt
SecuredDebt
100305000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
24000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6000 USD
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
1600000 shares
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
8107000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
38980000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
6000 USD
CY2015Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
105974 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
4650000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
1722063000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
1666047000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1732177000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1676206000 USD
CY2014Q2 us-gaap Tenant Reimbursements
TenantReimbursements
555000 USD
us-gaap Tenant Reimbursements
TenantReimbursements
815000 USD
CY2015Q2 us-gaap Tenant Reimbursements
TenantReimbursements
2727000 USD
us-gaap Tenant Reimbursements
TenantReimbursements
5857000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
24.42
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
24.29
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
24.24
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
74031 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
265926 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
191895 shares
CY2014Q2 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
CY2015Q2 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-375000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-330000 USD
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
35127969 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24435162 shares
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
84992633 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
84623618 shares
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
500000 USD
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:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts within cash flows from operating activities and cash flows from financing activities have been reclassified to conform with the current year presentation.</font></div></div>

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