2017 Q2 Form 10-Q Financial Statement

#000156103217000005 Filed on May 12, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2017 Q1 2016 Q1
Revenue $75.77M $74.62M $75.51M
YoY Change -0.12% -1.18% 32.19%
Cost Of Revenue
YoY Change
Gross Profit $31.41M $32.00M $36.71M
YoY Change -10.12% -12.82% 23.84%
Gross Profit Margin 41.45% 42.89% 48.62%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.48M $24.62M
YoY Change -16.79% -16.41%
% of Gross Profit 64.0% 67.05%
Operating Expenses $74.50M $75.43M $72.59M
YoY Change -0.69% 3.91% 17.99%
Operating Profit $1.268M -$817.0K $2.918M
YoY Change 50.24% -128.0% -166.29%
Interest Expense $6.588M $5.482M $4.984M
YoY Change 35.11% 9.99% 263.0%
% of Operating Profit 519.56% 170.8%
Other Income/Expense, Net -$6.191M -$5.545M -$4.962M
YoY Change 27.52% 11.75% 509.58%
Pretax Income -$4.923M -$6.362M -$2.044M
YoY Change 22.74% 211.25% -60.81%
Income Tax -$202.0K -$195.0K -$483.0K
% Of Pretax Income
Net Earnings -$4.716M -$6.139M -$1.555M
YoY Change 57.2% 294.79% -70.21%
Net Earnings / Revenue -6.22% -8.23% -2.06%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 89.12M shares 89.91M shares 86.68M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q2 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $158.1M $91.68M $36.51M
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 $103.8M $106.6M $145.2M
YoY Change -23.26% -26.57%
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 $2.308B $2.241B $2.266B
YoY Change 3.03% -1.11% 20.8%
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 $879.6M $790.6M $683.6M
YoY Change 29.61% 15.65% 309.74%
SHAREHOLDERS EQUITY
Retained Earnings -$567.3M -$530.3M -$354.5M
YoY Change 43.82% 49.6% 108.54%
Common Stock $896.0K $889.0K $869.0K
YoY Change 2.05% 2.3% 2.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.420B $1.442B $1.573B
YoY Change
Total Liabilities & Shareholders Equity $2.308B $2.241B $2.266B
YoY Change 3.03% -1.11% 20.8%

Cashflow Statement

Concept 2017 Q2 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income -$4.716M -$6.139M -$1.555M
YoY Change 57.2% 294.79% -70.21%
Depreciation, Depletion And Amortization $20.48M $24.62M
YoY Change -16.79% -16.41%
Cash From Operating Activities $19.06M $26.08M
YoY Change -26.93% 6.33%
INVESTING ACTIVITIES
Capital Expenditures $1.141M $1.813M
YoY Change -37.07% 66.64%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$4.585M -$9.685M
YoY Change -52.66% -89.18%
FINANCING ACTIVITIES
Cash Dividend Paid $20.22M $17.51M
YoY Change 15.45% 9.38%
Common Stock Issuance & Retirement, Net $300.0K $27.52M $12.02M
YoY Change 129.03% 834.29%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $48.41M -$4.364M
YoY Change -1209.19% -77.01%
NET CHANGE
Cash From Operating Activities $19.06M $26.08M
Cash From Investing Activities -$4.585M -$9.685M
Cash From Financing Activities $48.41M -$4.364M
Net Change In Cash $62.88M $12.04M
YoY Change 422.47% -114.33%
FREE CASH FLOW
Cash From Operating Activities $19.06M $26.08M
Capital Expenditures $1.141M $1.813M
Free Cash Flow $17.92M $24.27M
YoY Change -26.18% 3.53%

Facts In Submission

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CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
48405000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4585000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
26084000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
18633000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-1555000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-6139000 USD
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-6000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-28000 USD
CY2016Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-4962000 USD
CY2017Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5545000 USD
CY2017Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
163 property
CY2017Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
75 encumbered_property
CY2016Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2017Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2017Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
29 state
CY2016Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
20187000 USD
CY2017Q1 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
19498000 USD
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
72591000 USD
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
75432000 USD
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
2918000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-817000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
35753000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
658000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
671000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
673000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
668000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
32570000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
673794000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
62382000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
62348000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
67579000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
73069000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
79400000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
329016000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
513000 USD
CY2016Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
26592000 USD
CY2017Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
24022000 USD
CY2016Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
22000 USD
CY2017Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1000 USD
CY2016Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
2000000 USD
CY2017Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
600000 USD
CY2016Q1 us-gaap Payments For Derivative Instrument Financing Activities
PaymentsForDerivativeInstrumentFinancingActivities
0 USD
CY2017Q1 us-gaap Payments For Derivative Instrument Financing Activities
PaymentsForDerivativeInstrumentFinancingActivities
67000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
12015000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
27518000 USD
CY2016Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
17510000 USD
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
20215000 USD
CY2016Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
172000 USD
CY2017Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
200000 USD
CY2017Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
169000 USD
CY2016Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
3000 USD
CY2017Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2475000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1813000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1141000 USD
CY2016Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
5872000 USD
CY2017Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
2844000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
22073000 USD
CY2017Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
20086000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2200000000 USD
CY2016Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
30000000 USD
CY2017Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
99439000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-1561000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
-6167000 USD
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
386000 USD
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3510000 USD
CY2015Q3 us-gaap Purchase Obligation
PurchaseObligation
82000000 USD
CY2016Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
241027000 USD
CY2017Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
256189000 USD
CY2016Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2355262000 USD
CY2017Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2315762000 USD
CY2016Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2114235000 USD
CY2017Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2059573000 USD
CY2016Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
75503000 USD
CY2017Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
74615000 USD
CY2016Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
4664000 USD
CY2017Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
590000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3962000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4388000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-486574000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-530296000 USD
CY2016Q1 us-gaap Revenues
Revenues
75509000 USD
CY2017Q1 us-gaap Revenues
Revenues
74615000 USD
CY2016Q4 us-gaap Secured Debt
SecuredDebt
142288000 USD
CY2017Q1 us-gaap Secured Debt
SecuredDebt
141921000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
15000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
14000 USD
CY2017Q1 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
800000 shares
CY2016Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
19120000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
17321000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
17300000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
14000 USD
CY2017Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
2288524 shares
CY2017Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
27518000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
1495456000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
1441551000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1504326000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1450224000 USD
CY2016Q1 us-gaap Tenant Reimbursements
TenantReimbursements
3709000 USD
CY2017Q1 us-gaap Tenant Reimbursements
TenantReimbursements
4104000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
23.73
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
22.53
CY2017Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
21.61
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
975030 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2248209 shares
CY2017Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1273179 shares
CY2016Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-7000 USD
CY2017Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
86658678 shares
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
89639676 shares

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