2013 Q2 Form 10-Q Financial Statement

#000110465913061764 Filed on August 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $11.98M $10.86M
YoY Change 10.3% 4.57%
Cost Of Revenue $940.0K $770.0K
YoY Change 22.08% 26.23%
Gross Profit $11.05M $10.33M
YoY Change 6.97% 2.18%
Gross Profit Margin 92.23% 95.1%
Selling, General & Admin $2.020M $1.780M
YoY Change 13.48% -10.1%
% of Gross Profit 18.28% 17.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.720M $2.520M
YoY Change 7.94% 7.69%
% of Gross Profit 24.62% 24.39%
Operating Expenses $5.763M $5.083M
YoY Change 13.38% 4.44%
Operating Profit $6.218M $6.019M
YoY Change 3.31% -1.28%
Interest Expense $3.158M $3.308M
YoY Change -4.53% 2.61%
% of Operating Profit 50.79% 54.96%
Other Income/Expense, Net $10.00K $210.0K
YoY Change -95.24% 425.0%
Pretax Income $7.610M $3.270M
YoY Change 132.72% -15.94%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $7.736M $5.750M
YoY Change 34.54% 11.82%
Net Earnings / Revenue 64.57% 52.94%
Basic Earnings Per Share $0.51 $0.39
Diluted Earnings Per Share $0.50 $0.39
COMMON SHARES
Basic Shares Outstanding 14.84M shares 14.38M shares
Diluted Shares Outstanding 14.94M shares 14.48M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.90M $15.40M
YoY Change 165.58% 35.09%
Cash & Equivalents $40.93M $15.35M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $13.00M $13.10M
Other Receivables $0.00 $0.00
Total Short-Term Assets $53.90M $28.50M
YoY Change 89.12% 22.84%
LONG-TERM ASSETS
Property, Plant & Equipment $412.9M $402.3M
YoY Change 2.65% 2.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.300M $17.60M
YoY Change -69.89% 198.31%
Other Assets $8.800M $9.100M
YoY Change -3.3% 68.52%
Total Long-Term Assets $441.9M $443.5M
YoY Change -0.35% 7.09%
TOTAL ASSETS
Total Short-Term Assets $53.90M $28.50M
Total Long-Term Assets $441.9M $443.5M
Total Assets $495.8M $472.0M
YoY Change 5.05% 7.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $6.100M $5.800M
YoY Change 5.17% 34.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $19.60M
YoY Change -100.0% 335.56%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.50M $30.30M
YoY Change -62.05% 122.79%
LONG-TERM LIABILITIES
Long-Term Debt $227.9M $216.7M
YoY Change 5.17% 9.33%
Other Long-Term Liabilities $5.900M $5.000M
YoY Change 18.0% -7.41%
Total Long-Term Liabilities $233.8M $221.7M
YoY Change 5.46% 8.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.50M $30.30M
Total Long-Term Liabilities $233.8M $221.7M
Total Liabilities $245.3M $251.9M
YoY Change -2.65% 16.04%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $249.4M $219.6M
YoY Change
Total Liabilities & Shareholders Equity $495.8M $472.0M
YoY Change 5.05% 7.93%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $7.736M $5.750M
YoY Change 34.54% 11.82%
Depreciation, Depletion And Amortization $2.720M $2.520M
YoY Change 7.94% 7.69%
Cash From Operating Activities $6.530M $5.000M
YoY Change 30.6% 10.38%
INVESTING ACTIVITIES
Capital Expenditures -$1.870M -$5.530M
YoY Change -66.18%
Acquisitions
YoY Change
Other Investing Activities $18.70M $7.020M
YoY Change 166.38% -39.27%
Cash From Investing Activities $16.83M $1.500M
YoY Change 1022.0% -87.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.190M -8.340M
YoY Change -114.27% -49.05%
NET CHANGE
Cash From Operating Activities 6.530M 5.000M
Cash From Investing Activities 16.83M 1.500M
Cash From Financing Activities 1.190M -8.340M
Net Change In Cash 24.55M -1.840M
YoY Change -1434.24% 557.14%
FREE CASH FLOW
Cash From Operating Activities $6.530M $5.000M
Capital Expenditures -$1.870M -$5.530M
Free Cash Flow $8.400M $10.53M
YoY Change -20.23% 132.45%

Facts In Submission

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<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Note 1 - <u>Organization and Background</u></font></p> <p style="MARGIN: 0in 0in 0pt;">&#160;</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">One Liberty Properties,&#160;Inc. (&#8220;OLP&#8221;) was incorporated in 1982 in Maryland.&#160; OLP is a self-administered and self-managed real estate investment trust (&#8220;REIT&#8221;).&#160; OLP acquires, owns and manages a geographically diversified portfolio of retail, industrial, health and fitness, office, flex and other properties, a substantial portion of which are under long-term net leases.&#160; As of June&#160;30, 2013, OLP owned 94 properties, five of which are owned by consolidated joint ventures.&#160; OLP&#8217;s unconsolidated joint ventures owned a total of five properties. The 99 properties are located in 28 states.</font></p> </div>
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1
CY2013Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1
CY2013Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
12500000 shares
CY2012Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000000 shares
CY2012Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000000 shares
CY2013Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
15058000 shares
CY2013Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
15058000 shares
CY2012Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
14598000 shares
CY2012Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
14598000 shares
CY2012Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
11102000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
21860000 USD
CY2012Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2410000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
4753000 USD
CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1749000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3590000 USD
CY2012Q2 olp Federal Excise And State Tax Paid And Or Accrued
FederalExciseAndStateTaxPaidAndOrAccrued
47000 USD
CY2012Q2 olp Costs Of Acquiring Real Estate
CostsOfAcquiringRealEstate
123000 USD
olp Costs Of Acquiring Real Estate
CostsOfAcquiringRealEstate
166000 USD
CY2012Q2 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
677000 USD
us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
1299000 USD
CY2013Q2 olp Leasehold Rent
LeaseholdRent
77000 USD
CY2012Q2 olp Leasehold Rent
LeaseholdRent
77000 USD
olp Leasehold Rent
LeaseholdRent
154000 USD
olp Leasehold Rent
LeaseholdRent
154000 USD
CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
5083000 USD
us-gaap Operating Expenses
OperatingExpenses
10058000 USD
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
6019000 USD
CY2013Q2 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
1898000 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
1898000 USD
CY2012Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
209000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
223000 USD
CY2012Q2 us-gaap Interest Expense
InterestExpense
3308000 USD
us-gaap Interest Expense
InterestExpense
6492000 USD
CY2012Q2 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
188000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
373000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
319000 USD
CY2013Q2 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
572000 USD
us-gaap Profit Loss
ProfitLoss
8979000 USD
CY2013Q2 us-gaap Profit Loss
ProfitLoss
7752000 USD
us-gaap Profit Loss
ProfitLoss
11201000 USD
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14478000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14859000 shares
CY2012Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.22
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.42
CY2012Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.17
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.19
CY2012Q2 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
572000 USD
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
1144000 USD
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
1144000 USD
CY2013Q2 olp Real Estate Costs And Expenses Related Party
RealEstateCostsAndExpensesRelatedParty
150000 USD
CY2012Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.22
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.42
CY2012Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.17
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.18
CY2013Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.35
CY2012Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.33
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.70
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.66
CY2012Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-19000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
11000 USD
CY2012Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-401000 USD
CY2012Q2 olp Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax The Company Share From Joint Venture
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTaxTheCompanyShareFromJointVenture
-35000 USD
olp Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax The Company Share From Joint Venture
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTaxTheCompanyShareFromJointVenture
-24000 USD
CY2012Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-455000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-425000 USD
CY2012Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
5299000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
8554000 USD
CY2012Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
4000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
7000 USD
CY2012Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5295000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
8547000 USD
CY2013Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
8516000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
780000 USD
CY2013Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
8532000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1014000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
12215000 USD
us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
9000 USD
us-gaap Straight Line Rent
StraightLineRent
695000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
-17000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
-2000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
586000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
491000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4965000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
390000 USD
us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
528000 USD
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-840000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10048000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
13073000 USD
us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
13885000 USD
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
2631000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
84000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
7048000 USD
us-gaap Payments For Lease Commissions
PaymentsForLeaseCommissions
219000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
369000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9234000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
11865000 USD
olp Payments Of Amortization Of Mortgages Payable
PaymentsOfAmortizationOfMortgagesPayable
2753000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
13817000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7771000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
3500000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
9300000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
3500000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
9700000 USD
us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
1889000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
819000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
93000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
290000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9666000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1871000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1416000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2685000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
26354000 USD
us-gaap Interest Paid
InterestPaid
6874000 USD
us-gaap Contribution Of Property
ContributionOfProperty
11734000 USD
olp Noncash Allocation Of Intangible Lease Assets
NoncashAllocationOfIntangibleLeaseAssets
3487000 USD
olp Noncash Allocation Of Intangible Lease Liability
NoncashAllocationOfIntangibleLeaseLiability
-11000 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12668000 USD
CY2012Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
15353000 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
40931000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
218947000 USD
CY2012 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
19924000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
10747000 USD
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2131000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
7771000 USD
CY2012 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
3652000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
2278000 USD
CY2012 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
571000 USD
us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
481000 USD
CY2012 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
290000 USD
CY2012 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.34
CY2012 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
1223000 USD
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
766000 USD
CY2012 us-gaap Profit Loss
ProfitLoss
32308000 USD
CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-559000 USD

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