2017 Q2 Form 10-Q Financial Statement

#000161856317000091 Filed on August 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $64.34M $47.28M
YoY Change 36.07% 49.4%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $27.20M $20.30M
YoY Change 33.99% 35.33%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.80M $13.10M
YoY Change 35.88% 31.0%
% of Gross Profit
Operating Expenses $45.01M $33.38M
YoY Change 34.83% 33.6%
Operating Profit $19.33M $13.90M
YoY Change 39.07% 108.64%
Interest Expense $8.160M $5.844M
YoY Change 39.63% 21.14%
% of Operating Profit 42.21% 42.04%
Other Income/Expense, Net -$3.469M -$7.745M
YoY Change -55.21% 17.88%
Pretax Income $15.86M $6.157M
YoY Change 157.66% 6057.0%
Income Tax $288.0K $112.0K
% Of Pretax Income 1.82% 1.82%
Net Earnings $2.367M $7.370M
YoY Change -67.88% 112.76%
Net Earnings / Revenue 3.68% 15.59%
Basic Earnings Per Share $0.05 $0.32
Diluted Earnings Per Share $0.05 $0.08
COMMON SHARES
Basic Shares Outstanding 44.22M shares 23.08M shares
Diluted Shares Outstanding 44.22M shares 73.53M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.60M $9.900M
YoY Change 37.37% 62.3%
Cash & Equivalents $13.59M $9.939M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.800M $1.300M
Other Receivables $1.500M $400.0K
Total Short-Term Assets $16.90M $11.60M
YoY Change 45.69% 58.9%
LONG-TERM ASSETS
Property, Plant & Equipment $1.209M $752.0K
YoY Change 60.77% 253.05%
Goodwill $5.750M
YoY Change
Intangibles
YoY Change
Long-Term Investments $89.92M
YoY Change
Other Assets $22.20M $10.40M
YoY Change 113.46% 8.33%
Total Long-Term Assets $1.961B $1.365B
YoY Change 43.67% 45.93%
TOTAL ASSETS
Total Short-Term Assets $16.90M $11.60M
Total Long-Term Assets $1.961B $1.365B
Total Assets $1.978B $1.376B
YoY Change 43.68% 46.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.10M $24.80M
YoY Change -14.92% 66.44%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.10M $24.80M
YoY Change -14.92% 2.48%
LONG-TERM LIABILITIES
Long-Term Debt $969.1M $754.7M
YoY Change 28.41% 85.07%
Other Long-Term Liabilities $12.70M $7.400M
YoY Change 71.62% 42.31%
Total Long-Term Liabilities $981.8M $762.1M
YoY Change 28.83% 84.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.10M $24.80M
Total Long-Term Liabilities $981.8M $762.1M
Total Liabilities $1.003B $786.8M
YoY Change 27.46% 80.0%
SHAREHOLDERS EQUITY
Retained Earnings -$27.87M -$120.0K
YoY Change 23125.0% -1190.91%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $575.5M $252.2M
YoY Change
Total Liabilities & Shareholders Equity $1.978B $1.376B
YoY Change 43.68% 46.03%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $2.367M $7.370M
YoY Change -67.88% 112.76%
Depreciation, Depletion And Amortization $17.80M $13.10M
YoY Change 35.88% 31.0%
Cash From Operating Activities $27.30M $22.70M
YoY Change 20.26% 99.12%
INVESTING ACTIVITIES
Capital Expenditures -$64.60M -$64.30M
YoY Change 0.47% 54.57%
Acquisitions
YoY Change
Other Investing Activities -$2.600M -$1.700M
YoY Change 52.94% -525.0%
Cash From Investing Activities -$67.20M -$66.00M
YoY Change 1.82% 60.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 50.20M 46.00M
YoY Change 9.13% 67.27%
NET CHANGE
Cash From Operating Activities 27.30M 22.70M
Cash From Investing Activities -67.20M -66.00M
Cash From Financing Activities 50.20M 46.00M
Net Change In Cash 10.30M 2.700M
YoY Change 281.48% -222.73%
FREE CASH FLOW
Cash From Operating Activities $27.30M $22.70M
Capital Expenditures -$64.60M -$64.30M
Free Cash Flow $91.90M $87.00M
YoY Change 5.63% 64.15%

Facts In Submission

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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Gains Losses On Extinguishment Of Debt
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2540000 USD
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CY2016Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2017Q2 us-gaap Net Rentable Area
NetRentableArea
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CY2016Q2 us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
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CY2017Q1 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
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CY2017Q2 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
10 property
us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
15 property
CY2017Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
394 property
CY2017Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
21 state
us-gaap Operating Expenses
OperatingExpenses
90621000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
13902000 USD
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OperatingIncomeLoss
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CY2016Q4 us-gaap Other Assets
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us-gaap Other Comprehensive Income Loss Net Of Tax
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OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-760000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-1530000 USD
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-6542000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-8437000 USD
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-3852000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-2239000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-57000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-62000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-14000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-66000 USD
CY2016Q2 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
1500000 USD
CY2017Q2 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
2045000 USD
CY2016Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
5000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
9000 USD
CY2017Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
7000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
13000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
3614000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
7085000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
1933000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
565000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4612000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1346000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9711000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
22073000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
311000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
549000 USD
CY2017Q1 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
26780000 USD
CY2017Q2 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
60672000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
87452000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
12647000 USD
us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
336000 USD
us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
157000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
123932000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
86945000 USD
CY2016Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
1879000 USD
CY2017Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
5622000 USD
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
570000 USD
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
0 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
250000 USD
us-gaap Proceeds From Issuance Of Common Limited Partners Units
ProceedsFromIssuanceOfCommonLimitedPartnersUnits
0 USD
us-gaap Proceeds From Issuance Of Common Limited Partners Units
ProceedsFromIssuanceOfCommonLimitedPartnersUnits
7000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
381500000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
310500000 USD
us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
789000 USD
us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
567000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
0 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
15342000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
6045000 USD
us-gaap Profit Loss
ProfitLoss
10847000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
15576000 USD
us-gaap Profit Loss
ProfitLoss
22757000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1243000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1209000 USD
CY2016Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
13937000 USD
CY2017Q2 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
0 USD
CY2016Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
110803000 USD
CY2017Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
138726000 USD
CY2016Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1844336000 USD
CY2016Q2 us-gaap Undistributed Earnings
UndistributedEarnings
7365000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
9571000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
974667000 USD
CY2017Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1954056000 USD
CY2016Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1733533000 USD
CY2017Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1815330000 USD
CY2016Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
47284000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
86933000 USD
CY2017Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
64341000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
125904000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
252586000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
218762000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2767000 USD
CY2017Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
13954000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-8719000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-27870000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1227000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1923000 USD
us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
577102000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
575513000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
979068000 USD
CY2017Q2 us-gaap Undistributed Earnings
UndistributedEarnings
2360000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
2909000 USD
CY2016Q2 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
6009000 USD
us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
10786000 USD
CY2017Q2 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
2360000 USD
us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
2909000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73531000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70763000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44223000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43814000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23078000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23041000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44223000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43814000 shares
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:8px;text-align:justify;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:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts in the consolidated financial statements and related notes have been reclassified to conform to the current year presentation. Such reclassifications do not impact the Company's previously reported financial position or net income (loss).</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </font></div></div>

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