2012 Q4 Form 10-Q Financial Statement

#000110465912073023 Filed on November 01, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2011 Q3
Revenue $54.63M $45.24M
YoY Change 6.89% 47.15%
Cost Of Revenue $16.40M $12.70M
YoY Change 34.43% 45.98%
Gross Profit $38.30M $33.10M
YoY Change 33.45% 48.43%
Gross Profit Margin 70.11% 73.16%
Selling, General & Admin $6.600M $7.100M
YoY Change 24.53% 51.06%
% of Gross Profit 17.23% 21.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.00M $10.40M
YoY Change 35.27% 65.08%
% of Gross Profit 73.11% 31.42%
Operating Expenses $19.90M $17.60M
YoY Change 30.92% 60.0%
Operating Profit $18.40M $14.64M
YoY Change 36.3% 69.58%
Interest Expense -$4.200M $3.162M
YoY Change 23.53% 60.26%
% of Operating Profit -22.83% 21.61%
Other Income/Expense, Net -$200.0K
YoY Change
Pretax Income $13.20M $11.56M
YoY Change 40.43% 72.46%
Income Tax $0.00 -$8.000K
% Of Pretax Income 0.0% -0.07%
Net Earnings $13.00M $11.60M
YoY Change -1.52% 73.13%
Net Earnings / Revenue 23.8% 25.64%
Basic Earnings Per Share $0.25 $0.26
Diluted Earnings Per Share $977.4K $1.027M
COMMON SHARES
Basic Shares Outstanding 54.64M shares 45.32M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q4 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.300M $5.700M
YoY Change 60.61% 147.83%
Cash & Equivalents $5.255M $5.724M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $28.90M $22.10M
Other Receivables $0.00 $0.00
Total Short-Term Assets $34.20M $27.80M
YoY Change 5.88% 14.88%
LONG-TERM ASSETS
Property, Plant & Equipment $1.456B $1.209B
YoY Change 10.64% 42.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $62.00M $5.400M
YoY Change 496.15% -14.29%
Total Long-Term Assets $1.528B $1.239B
YoY Change 14.34% 41.68%
TOTAL ASSETS
Total Short-Term Assets $34.20M $27.80M
Total Long-Term Assets $1.528B $1.239B
Total Assets $1.562B $1.267B
YoY Change 14.14% 40.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.90M $21.90M
YoY Change -8.7% 25.14%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $45.60M
YoY Change -100.0% 27.37%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.60M $74.10M
YoY Change -81.2% 30.46%
LONG-TERM LIABILITIES
Long-Term Debt $492.6M $282.5M
YoY Change 42.58% 348.41%
Other Long-Term Liabilities $19.40M $11.90M
YoY Change 71.68% 4.39%
Total Long-Term Liabilities $512.0M $294.4M
YoY Change 43.5% 295.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.60M $74.10M
Total Long-Term Liabilities $512.0M $294.4M
Total Liabilities $534.7M $368.5M
YoY Change 12.11% 181.07%
SHAREHOLDERS EQUITY
Retained Earnings $137.3M $74.09M
YoY Change 57.21%
Common Stock $1.105B $935.9M
YoY Change 18.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.027B $898.2M
YoY Change
Total Liabilities & Shareholders Equity $1.562B $1.267B
YoY Change 14.14% 40.96%

Cashflow Statement

Concept 2012 Q4 2011 Q3
OPERATING ACTIVITIES
Net Income $13.00M $11.60M
YoY Change -1.52% 73.13%
Depreciation, Depletion And Amortization $28.00M $10.40M
YoY Change 35.27% 65.08%
Cash From Operating Activities $17.80M $24.20M
YoY Change 5.95% 181.4%
INVESTING ACTIVITIES
Capital Expenditures -$41.00M -$104.6M
YoY Change -30.63% -46.28%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$41.00M -$104.6M
YoY Change -30.63% -46.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $166.7M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 25.20M 85.10M
YoY Change -36.68% -54.59%
NET CHANGE
Cash From Operating Activities 17.80M 24.20M
Cash From Investing Activities -41.00M -104.6M
Cash From Financing Activities 25.20M 85.10M
Net Change In Cash 2.000M 4.700M
YoY Change -180.0% 261.54%
FREE CASH FLOW
Cash From Operating Activities $17.80M $24.20M
Capital Expenditures -$41.00M -$104.6M
Free Cash Flow $58.80M $128.8M
YoY Change -22.53% -36.65%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
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us-gaap Investment Income Interest
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us-gaap Costs And Expenses
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us-gaap Operating Income Loss
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us-gaap Investment Income Interest
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us-gaap Amortization Of Intangible Assets
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us-gaap Other Amortization Of Deferred Charges
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us-gaap Increase Decrease In Restricted Cash For Operating Activities
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us-gaap Increase Decrease In Deferred Leasing Fees
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Straight Line Rent
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Note 2. </font></b><font style="FONT-SIZE: 10pt" size="2">&#160; <b>Recent Accounting Pronouncements</b></font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">In January&#160;2012, we adopted Financial Accounting Standards Board, or FASB, Accounting Standards Update No.&#160;2011-04, <i>Amendments to Achieve Common Fair Value Measurements and Disclosure Requirements in U.S.&#160;GAAP and IFRS</i>.&#160; This update clarified the application of existing fair value measurement requirements.&#160; This update also required reporting entities to disclose additional information regarding fair value measurements categorized within Level 3 of the fair value hierarchy.&#160; This update was effective for interim and annual reporting periods beginning after December&#160;15, 2011.&#160; The implementation of this update did not cause any material changes to the disclosures in, or presentation of, our condensed consolidated financial statements.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">In January&#160;2012, we adopted FASB Accounting Standards Update No.&#160;2011-05, <i>Presentation of Comprehensive Income</i>.&#160; This update eliminated the option to report other comprehensive income and its components in the statement of shareholders&#8217; equity.&#160; This update was intended to enhance comparability between entities that report under GAAP and to provide a more consistent method of presenting non-owner transactions that affect an entity&#8217;s equity.&#160; This standard was effective for interim and annual reporting periods beginning after December&#160;15, 2011.&#160; The implementation of this update did not cause any changes to our condensed consolidated financial statements other than the presentation of the condensed consolidated statements of comprehensive income.</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr></table>
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us-gaap Other Amortization Of Deferred Charges
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310000 USD
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424000 USD
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3234000 USD
us-gaap Increase Decrease In Due To Affiliates
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3000 USD
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50630000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Continuing Operations
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3287000 USD
us-gaap Interest Paid
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376500000 USD
us-gaap Repayments Of Long Term Lines Of Credit
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212000000 USD
CY2011Q4 gov Number Of Properties Acquired
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CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
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13056000 USD
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763000 USD
CY2012Q3 us-gaap General And Administrative Expense
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3637000 USD
CY2012Q3 us-gaap Costs And Expenses
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37889000 USD
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
16194000 USD
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
7000 USD
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
11786000 USD
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
30000 USD
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
11756000 USD
CY2012Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
35000 USD
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
35000 USD
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
11791000 USD
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
CY2011Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
15000 USD
CY2011Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
15000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
31000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
31000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
71000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
71000 USD
CY2012Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
54083000 USD
CY2012Q3 us-gaap Interest Expense
InterestExpense
4530000 USD
CY2011Q3 us-gaap Interest Expense
InterestExpense
3162000 USD
us-gaap Interest Expense
InterestExpense
12649000 USD
us-gaap Interest Expense
InterestExpense
8775000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
111000 USD
CY2012Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
7500000 shares
CY2012Q4 gov Common Stock Shares Issued Per Share Price
CommonStockSharesIssuedPerSharePrice
23.25
CY2012Q4 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
166564000 USD
CY2012Q4 gov Option Granted To Underwriters Exercise Period
OptionGrantedToUnderwritersExercisePeriod
P30D
CY2012Q4 gov Option Granted To Underwriters Number Of Shares Of Common Stock
OptionGrantedToUnderwritersNumberOfSharesOfCommonStock
1125000 shares
CY2011Q4 us-gaap Business Acquisition Purchase Price Allocation Notes Payable And Long Term Debt
BusinessAcquisitionPurchasePriceAllocationNotesPayableAndLongTermDebt
49395000 USD

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