2016 Q2 Form 10-Q Financial Statement

#000156103216000025 Filed on May 13, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q1
Revenue $75.86M $75.51M $57.12M
YoY Change 27.46% 32.19% 4018.31%
Cost Of Revenue
YoY Change
Gross Profit $34.94M $36.71M $29.64M
YoY Change 13.13% 23.84% 2612.17%
Gross Profit Margin 46.07% 48.62% 51.9%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.62M $29.45M
YoY Change -16.41% 3336.17%
% of Gross Profit 67.05% 99.34%
Operating Expenses $75.01M $72.59M $61.52M
YoY Change 5.14% 17.99% 3027.76%
Operating Profit $844.0K $2.918M -$4.402M
YoY Change -107.42% -166.29% 658.97%
Interest Expense $4.876M $4.984M $1.373M
YoY Change 104.53% 263.0% 45666.67%
% of Operating Profit 577.73% 170.8%
Other Income/Expense, Net -$4.855M -$4.962M -$814.0K
YoY Change 123.94% 509.58% 40600.0%
Pretax Income -$4.011M -$2.044M -$5.216M
YoY Change -70.39% -60.81% 796.22%
Income Tax -$992.0K -$483.0K $29.00K
% Of Pretax Income
Net Earnings -$3.000M -$1.555M -$5.220M
YoY Change -77.65% -70.21% 796.91%
Net Earnings / Revenue -3.95% -2.06% -9.14%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 87.20M shares 86.68M shares 84.53M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $40.65M $36.51M $98.66M
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 $135.3M $145.2M
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 $2.240B $2.266B $1.876B
YoY Change 12.98% 20.8% 289.36%
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 $678.7M $683.6M $166.8M
YoY Change 121.67% 309.74% 3254.28%
SHAREHOLDERS EQUITY
Retained Earnings -$394.5M -$354.5M -$170.0M
YoY Change 79.76% 108.54% 1554.93%
Common Stock $878.0K $869.0K $845.0K
YoY Change 3.05% 2.84% 278.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.552B $1.573B $1.699B
YoY Change
Total Liabilities & Shareholders Equity $2.240B $2.266B $1.876B
YoY Change 12.98% 20.8% 289.36%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$3.000M -$1.555M -$5.220M
YoY Change -77.65% -70.21% 796.91%
Depreciation, Depletion And Amortization $24.62M $29.45M
YoY Change -16.41% 3336.17%
Cash From Operating Activities $26.08M $24.53M
YoY Change 6.33% 1785.55%
INVESTING ACTIVITIES
Capital Expenditures $1.813M $1.088M
YoY Change 66.64%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$9.685M -$89.51M
YoY Change -89.18% 334.8%
FINANCING ACTIVITIES
Cash Dividend Paid $17.51M $16.01M
YoY Change 9.38% 731.64%
Common Stock Issuance & Retirement, Net $12.02M $1.286M
YoY Change 834.29% -100.36%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$4.364M -$18.98M
YoY Change -77.01% -106.05%
NET CHANGE
Cash From Operating Activities $26.08M $24.53M
Cash From Investing Activities -$9.685M -$89.51M
Cash From Financing Activities -$4.364M -$18.98M
Net Change In Cash $12.04M -$83.96M
YoY Change -114.33% -128.51%
FREE CASH FLOW
Cash From Operating Activities $26.08M $24.53M
Capital Expenditures $1.813M $1.088M
Free Cash Flow $24.27M $23.44M
YoY Change 3.53% 1701.92%

Facts In Submission

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CY2015Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
155367000 USD
CY2016Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
145203000 USD
CY2015Q1 us-gaap Interest Expense
InterestExpense
1373000 USD
CY2016Q1 us-gaap Interest Expense
InterestExpense
4984000 USD
CY2015Q1 us-gaap Interest Paid
InterestPaid
1229000 USD
CY2016Q1 us-gaap Interest Paid
InterestPaid
4543000 USD
CY2015Q1 us-gaap Investment Income Net
InvestmentIncomeNet
273000 USD
CY2016Q1 us-gaap Investment Income Net
InvestmentIncomeNet
22000 USD
CY2015Q4 us-gaap Land
Land
192790000 USD
CY2016Q1 us-gaap Land
Land
192790000 USD
CY2015Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
100000 USD
CY2016Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
200000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
668025000 USD
CY2016Q1 us-gaap Liabilities
Liabilities
683611000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2269842000 USD
CY2016Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2266027000 USD
CY2015Q4 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
90 shares
CY2016Q1 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
90 shares
CY2015Q4 us-gaap Line Of Credit
LineOfCredit
430000000 USD
CY2016Q1 us-gaap Line Of Credit
LineOfCredit
460000000 USD
CY2015Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
565000000 USD
CY2015Q4 us-gaap Minority Interest
MinorityInterest
9697000 USD
CY2016Q1 us-gaap Minority Interest
MinorityInterest
9519000 USD
CY2016Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
172000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
24531000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
26084000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-5220000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-18982000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4364000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-89508000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9685000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-1555000 USD
CY2015Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-25000 USD
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-6000 USD
CY2015Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-814000 USD
CY2016Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-4962000 USD
CY2016Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
166 property
CY2015Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2016Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2016Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
29 state
CY2015Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
22994000 USD
CY2016Q1 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
22355000 USD
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
61523000 USD
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
72591000 USD
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4402000 USD
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
2918000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
83170000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
671000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
673000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
668000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
664000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
79997000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
929359000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
71180000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
77696000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
83871000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
89971000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
94720000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
511921000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
497000 USD
CY2015Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
20856000 USD
CY2016Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
26592000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-7000 USD
CY2015Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
273000 USD
CY2016Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
22000 USD
CY2015Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
2025000 USD
CY2016Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
2000000 USD
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1292000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
12015000 USD
CY2015Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
16009000 USD
CY2016Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
17510000 USD
CY2015Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
200000 USD
CY2015Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
178000 USD
CY2016Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
172000 USD
CY2016Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
200000 USD
CY2015Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
594000 USD
CY2016Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
3000 USD
CY2015Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
629000 USD
CY2016Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2015Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
49000 USD
CY2016Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
0 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1088000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1813000 USD
CY2015Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
90553000 USD
CY2016Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
5872000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
21707000 USD
CY2016Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
22237000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2100000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2200000000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2015Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
CY2016Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
30000000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
4207000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
-5245000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-1561000 USD
CY2015Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
667000 USD
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
386000 USD
CY2015Q3 us-gaap Purchase Obligation
PurchaseObligation
82000000 USD
CY2015Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
146669000 USD
CY2016Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
171672000 USD
CY2015Q4 us-gaap Secured Debt
SecuredDebt
157305000 USD
CY2016Q1 us-gaap Secured Debt
SecuredDebt
152803000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
15000 USD
CY2015Q1 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
800000 shares
CY2016Q1 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
800000 shares
CY2015Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
19235000 USD
CY2016Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
19120000 USD
CY2016Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
15000 USD
CY2016Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
201367 shares
CY2016Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
163000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
1592120000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
1572897000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1601817000 USD
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1582416000 USD
CY2015Q1 us-gaap Tenant Reimbursements
TenantReimbursements
3130000 USD
CY2016Q1 us-gaap Tenant Reimbursements
TenantReimbursements
3709000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
23.72
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
23.73
CY2016Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
24.36
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
968370 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
975030 shares
CY2016Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
6660 shares
CY2015Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
45000 USD
CY2016Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-7000 USD
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
84250503 shares
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
86658678 shares
CY2016Q1 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-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts within rental income, resident services and fee income, 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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