$OLP
ONE LIBERTY PROPERTIES INC

2013 Q3 Form 10-Q Financial Statement

#000110465913083405 Filed on November 12, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q3
Revenue $12.97M $11.09M
YoY Change 16.92% 7.74%
Cost Of Revenue $840.0K $680.0K
YoY Change 23.53% -1.45%
Gross Profit $12.13M $10.66M
YoY Change 13.79% 22.67%
Gross Profit Margin 93.52% 96.1%
Selling, General & Admin $2.020M $1.950M
YoY Change 3.59% 12.07%
% of Gross Profit 16.65% 18.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.020M $2.630M
YoY Change 14.83% 8.23%
% of Gross Profit 24.9% 24.67%
Operating Expenses $6.386M $5.147M
YoY Change 24.07% 1.8%
Operating Profit $6.584M $6.564M
YoY Change 0.3% 80.63%
Interest Expense $3.409M $3.261M
YoY Change 4.54% 3.52%
% of Operating Profit 51.78% 49.68%
Other Income/Expense, Net $10.00K $10.00K
YoY Change 0.0% 0.0%
Pretax Income $3.080M $3.000M
YoY Change 2.67% 28.76%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $3.211M $18.41M
YoY Change -82.56% 565.97%
Net Earnings / Revenue 24.76% 166.0%
Basic Earnings Per Share $0.20 $1.24
Diluted Earnings Per Share $0.20 $1.23
COMMON SHARES
Basic Shares Outstanding 15.09M shares 14.44M shares
Diluted Shares Outstanding 15.19M shares 14.54M shares

Balance Sheet

Concept 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.90M $15.40M
YoY Change 22.73% 83.33%
Cash & Equivalents $18.90M $15.43M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $13.40M $13.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $32.30M $28.70M
YoY Change 12.54% 39.32%
LONG-TERM ASSETS
Property, Plant & Equipment $498.4M $397.3M
YoY Change 25.43% -2.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.300M $17.60M
YoY Change -69.89% 208.77%
Other Assets $8.300M $11.20M
YoY Change -25.89% 119.61%
Total Long-Term Assets $537.3M $440.4M
YoY Change 22.02% 2.1%
TOTAL ASSETS
Total Short-Term Assets $32.30M $28.70M
Total Long-Term Assets $537.3M $440.4M
Total Assets $569.6M $469.1M
YoY Change 21.44% 3.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $8.600M $5.900M
YoY Change 45.76% 9.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $6.400M
YoY Change -100.0% -68.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.00M $17.20M
YoY Change -18.6% -43.05%
LONG-TERM LIABILITIES
Long-Term Debt $300.3M $210.5M
YoY Change 42.66% 6.42%
Other Long-Term Liabilities $6.400M $4.800M
YoY Change 33.33% -9.43%
Total Long-Term Liabilities $306.7M $215.3M
YoY Change 42.45% 6.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.00M $17.20M
Total Long-Term Liabilities $306.7M $215.3M
Total Liabilities $320.7M $232.6M
YoY Change 37.91% -0.29%
SHAREHOLDERS EQUITY
Retained Earnings $26.20M $28.32M
YoY Change -7.47%
Common Stock $222.8M $209.3M
YoY Change 6.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $247.8M $236.0M
YoY Change
Total Liabilities & Shareholders Equity $569.6M $469.1M
YoY Change 21.44% 3.8%

Cashflow Statement

Concept 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $3.211M $18.41M
YoY Change -82.56% 565.97%
Depreciation, Depletion And Amortization $3.020M $2.630M
YoY Change 14.83% 8.23%
Cash From Operating Activities $6.340M $5.040M
YoY Change 25.79% -18.05%
INVESTING ACTIVITIES
Capital Expenditures -$96.15M -$500.0K
YoY Change 19130.0% -97.53%
Acquisitions
YoY Change
Other Investing Activities $150.0K $18.01M
YoY Change -99.17% 59933.33%
Cash From Investing Activities -$96.00M $17.50M
YoY Change -648.57% -186.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 67.63M -22.45M
YoY Change -401.25% -302.62%
NET CHANGE
Cash From Operating Activities 6.340M 5.040M
Cash From Investing Activities -96.00M 17.50M
Cash From Financing Activities 67.63M -22.45M
Net Change In Cash -22.03M 90.00K
YoY Change -24577.78% -102.99%
FREE CASH FLOW
Cash From Operating Activities $6.340M $5.040M
Capital Expenditures -$96.15M -$500.0K
Free Cash Flow $102.5M $5.540M
YoY Change 1750.0% -79.04%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Common Stock Dividends Per Share Cash Paid
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olp Incremental Common Shares Not Included In Computation Of Earning Per Share
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CY2013Q3 olp Incremental Common Shares Not Included In Computation Of Earning Per Share
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olp Incremental Common Shares Not Included In Computation Of Earning Per Share
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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt;"><u><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Reclassification</font></u></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">Certain amounts reported in previous consolidated financial statements for the three and nine months ended September&#160;30, 2012 have been reclassified in the accompanying consolidated financial statements to conform to the current period&#8217;s presentation, primarily to reclassify the operations of a property that was sold in December&#160;2012 to discontinued operations. In addition, the operations of the Company&#8217;s tenant-in-common interest were reclassified for the three and nine months ended September&#160;30, 2012.&#160; The reclassification transfers the tenant-in-common interest related amounts recorded in certain line items on the income statement (rental income, depreciation and amortization, real estate expenses, mortgage interest expense and amortization of deferred financing costs) to equity in earnings of unconsolidated joint ventures. This tenant-in-common interest was sold in May&#160;2013.</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">Additionally, the accompanying income statements include the reclassification of state tax expense in the three and nine months ended September&#160;30, 2012 from general and administrative expense to federal excise and state taxes to conform to the current year&#8217;s presentation.</font></p> <p style="TEXT-INDENT: 0.5in; 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">None of the reclassifications had an effect on net income or stockholders&#8217; equity.</font></p> </div>
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CY2012Q3 olp Net Income Loss From Continuing Operations Available To Common Stockholders
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us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
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olp Number Of Unconsolidated Joint Ventures
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CY2013Q3 olp Number Of Properties Owned And Operated By Each Unconsolidated Joint Venture
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Net Income Loss
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CY2013Q3 us-gaap Off Market Lease Unfavorable
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us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2013Q3 us-gaap Net Income Loss
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us-gaap Provision For Doubtful Accounts
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olp Allowance For Doubtful Accounts Receivable Recoveries Number Of Tenants
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olp Weighted Average Number Of Diluted Shares Including Unvested Restricted Stock Shares Outstanding
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us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
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olp Disposal Group Including Discontinued Operation Costs And Expenses
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us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
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us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2012 olp Discontinued Operations Number Of Properties Sold
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CY2013Q3 us-gaap Land
Land
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CY2013Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
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CY2013Q3 olp Unamortized Intangible Lease Assets
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CY2013Q3 us-gaap Common Stock Value
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CY2013Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
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CY2013Q3 us-gaap Minority Interest
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1145000 USD
CY2012Q3 us-gaap Profit Loss
ProfitLoss
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CY2013Q3 us-gaap Common Stock Dividends Per Share Declared
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us-gaap Allocated Share Based Compensation Expense
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CY2013Q3 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2012Q3 us-gaap Allocated Share Based Compensation Expense
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EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
4580000 USD
olp Share Based Compensation Arrangement By Share Based Payment Award Weighted Average Award Vesting Period
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CY2013Q3 us-gaap Available For Sale Equity Securities Amortized Cost Basis
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CY2013Q3 us-gaap Availableforsale Securities Gross Unrealized Gain
AvailableforsaleSecuritiesGrossUnrealizedGain
148000 USD
olp Number Of Derivative Agreements In Which Parent Company Could Be Liable In Event Of Subsidiary Default
NumberOfDerivativeAgreementsInWhichParentCompanyCouldBeLiableInEventOfSubsidiaryDefault
1 item
dei Entity Registrant Name
EntityRegistrantName
ONE LIBERTY PROPERTIES INC
dei Entity Central Index Key
EntityCentralIndexKey
0000712770
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
15645646 shares
CY2012Q4 us-gaap Land
Land
138152000 USD
CY2012Q4 us-gaap Investment Building And Building Improvements
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CY2012Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
473341000 USD
CY2012Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
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62816000 USD
CY2012Q4 us-gaap Real Estate Investment Property Net
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410525000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14577000 USD
CY2012Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
12629000 USD
CY2012Q4 olp Unamortized Intangible Lease Assets
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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, flex, office, health and fitness and other properties, a substantial portion of which are subject to long-term net leases.&#160; As of September&#160;30, 2013, OLP owned 107 properties, including five properties owned by consolidated joint ventures and five properties owned by unconsolidated joint ventures. The 107 properties are located in 29 states.</font></p> </div>
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1544000 USD
olp Number Of Properties Sold
NumberOfPropertiesSold
2 property

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