2013 Q4 Form 10-Q Financial Statement

#000110465913078747 Filed on October 29, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $58.27M $56.40M $52.43M
YoY Change 6.67% 7.58% 15.88%
Cost Of Revenue $18.50M $16.40M $14.70M
YoY Change 12.8% 11.56% 15.75%
Gross Profit $39.80M $40.00M $37.80M
YoY Change 3.92% 5.82% 14.2%
Gross Profit Margin 68.3% 70.92% 72.1%
Selling, General & Admin $7.400M $8.300M $8.300M
YoY Change 12.12% 0.0% 16.9%
% of Gross Profit 18.59% 20.75% 21.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.50M $24.50M $13.40M
YoY Change -48.21% 82.84% 28.85%
% of Gross Profit 36.43% 61.25% 35.45%
Operating Expenses $22.20M $22.30M $20.80M
YoY Change 11.56% 7.21% 18.18%
Operating Profit $17.60M $16.09M $16.13M
YoY Change -4.35% -0.25% 10.19%
Interest Expense -$4.600M $4.176M $4.530M
YoY Change 9.52% -7.81% 43.26%
% of Operating Profit -26.14% 25.96% 28.09%
Other Income/Expense, Net
YoY Change
Pretax Income $12.20M $11.99M $11.72M
YoY Change -7.58% 2.27% 1.42%
Income Tax $100.0K -$36.00K $30.00K
% Of Pretax Income 0.82% -0.3% 0.26%
Net Earnings $12.70M $2.000M $11.80M
YoY Change -2.31% -83.05% 1.72%
Net Earnings / Revenue 21.79% 3.55% 22.51%
Basic Earnings Per Share $0.23 $0.04 $0.25
Diluted Earnings Per Share $927.0K $146.0K $1.000M
COMMON SHARES
Basic Shares Outstanding 54.72M shares 54.68M shares 47.11M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.700M $2.700M $3.200M
YoY Change 45.28% -15.63% -43.86%
Cash & Equivalents $7.663M $2.697M $3.169M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $33.40M $31.40M $26.80M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $41.10M $34.10M $30.00M
YoY Change 20.18% 13.67% 7.91%
LONG-TERM ASSETS
Property, Plant & Equipment $1.523B $1.459B $1.469B
YoY Change 4.64% -0.69% 21.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $43.20M $41.70M $14.10M
YoY Change -30.32% 195.74% 161.11%
Total Long-Term Assets $1.591B $1.519B $1.495B
YoY Change 4.15% 1.62% 20.66%
TOTAL ASSETS
Total Short-Term Assets $41.10M $34.10M $30.00M
Total Long-Term Assets $1.591B $1.519B $1.495B
Total Assets $1.632B $1.553B $1.525B
YoY Change 4.5% 1.85% 20.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.20M $23.30M $21.80M
YoY Change 22.75% 6.88% -0.46%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $93.70M
YoY Change -100.0% 105.48%
Long-Term Debt Due $350.0M
YoY Change
Total Short-Term Liabilities $25.70M $25.10M $472.7M
YoY Change 13.72% -94.69% 537.92%
LONG-TERM LIABILITIES
Long-Term Debt $597.7M $510.3M $167.0M
YoY Change 21.34% 205.57% -40.88%
Other Long-Term Liabilities $19.40M $17.20M $14.00M
YoY Change 0.0% 22.86% 17.65%
Total Long-Term Liabilities $617.1M $527.5M $181.0M
YoY Change 20.53% 191.44% -38.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.70M $25.10M $472.7M
Total Long-Term Liabilities $617.1M $527.5M $181.0M
Total Liabilities $642.8M $552.6M $653.8M
YoY Change 20.22% -15.48% 77.43%
SHAREHOLDERS EQUITY
Retained Earnings $191.9M $179.2M
YoY Change 39.78%
Common Stock $1.106B $1.106B
YoY Change 0.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $989.7M $1.000B $871.0M
YoY Change
Total Liabilities & Shareholders Equity $1.632B $1.553B $1.525B
YoY Change 4.5% 1.85% 20.38%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $12.70M $2.000M $11.80M
YoY Change -2.31% -83.05% 1.72%
Depreciation, Depletion And Amortization $14.50M $24.50M $13.40M
YoY Change -48.21% 82.84% 28.85%
Cash From Operating Activities $26.10M $23.80M $29.90M
YoY Change 46.63% -20.4% 23.55%
INVESTING ACTIVITIES
Capital Expenditures -$85.00M -$44.30M -$147.9M
YoY Change 107.32% -70.05% 41.4%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$100.0K
YoY Change
Cash From Investing Activities -$85.00M -$44.30M -$147.9M
YoY Change 107.32% -70.05% 41.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 63.90M 20.10M 119.8M
YoY Change 153.57% -83.22% 40.78%
NET CHANGE
Cash From Operating Activities 26.10M 23.80M 29.90M
Cash From Investing Activities -85.00M -44.30M -147.9M
Cash From Financing Activities 63.90M 20.10M 119.8M
Net Change In Cash 5.000M -400.0K 1.800M
YoY Change 150.0% -122.22% -61.7%
FREE CASH FLOW
Cash From Operating Activities $26.10M $23.80M $29.90M
Capital Expenditures -$85.00M -$44.30M -$147.9M
Free Cash Flow $111.1M $68.10M $177.8M
YoY Change 88.95% -61.7% 38.04%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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36769000 USD
CY2013Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
14000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-67000 USD
CY2012Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
35000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
31000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
14000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-67000 USD
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
35000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
31000 USD
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1980000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
41829000 USD
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
11791000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
36800000 USD
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54684000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54666000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47108000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47086000 shares
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.22
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.79
CY2012Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.25
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.76
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.02
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.03
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.77
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.78
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
23897000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1002000 USD
CY2013Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
339000 USD
CY2012Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
339000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1002000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
998000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
998000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15775000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
14352000 USD
us-gaap Amortization Of Deferred Leasing Fees
AmortizationOfDeferredLeasingFees
1126000 USD
us-gaap Amortization Of Deferred Leasing Fees
AmortizationOfDeferredLeasingFees
636000 USD
us-gaap Other Noncash Expense
OtherNoncashExpense
938000 USD
us-gaap Other Noncash Expense
OtherNoncashExpense
1477000 USD
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
37000 USD
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
453000 USD
us-gaap Increase Decrease In Deferred Leasing Fees
IncreaseDecreaseInDeferredLeasingFees
3118000 USD
us-gaap Increase Decrease In Deferred Leasing Fees
IncreaseDecreaseInDeferredLeasingFees
2123000 USD
us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
483000 USD
us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
-4863000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2780000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1077000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4009000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2690000 USD
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
-1450000 USD
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
3336000 USD
us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
180976000 USD
us-gaap Real Estate Improvements
RealEstateImprovements
-14924000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
82341000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
82460000 USD
us-gaap Real Estate Improvements
RealEstateImprovements
-10474000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
18319000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-32453000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-191450000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1434000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1327000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
107500000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
173000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
88000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
351500000 USD
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
350000000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1964000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
70512000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
59322000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-52446000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
108887000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2558000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-103000 USD
us-gaap Interest Paid
InterestPaid
11386000 USD
us-gaap Interest Paid
InterestPaid
11787000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
173000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
167000 USD
gov Stock Granted Or Issued During Period Value Sharebased Compensation
StockGrantedOrIssuedDuringPeriodValueSharebasedCompensation
1694000 USD
gov Stock Granted Or Issued During Period Value Sharebased Compensation
StockGrantedOrIssuedDuringPeriodValueSharebasedCompensation
1847000 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3272000 USD
CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3169000 USD
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" 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;">&#160;</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Effective January&#160;2013, we adopted Financial Accounting Standards Board, or FASB, Accounting Standards Update No.&#160;2013-02, <i>Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income</i>. This update is the culmination of the FASB&#8217;s deliberation on reporting reclassification adjustments from accumulated other comprehensive income, or AOCI. This standard did not change the requirements for reporting net income or other comprehensive income. However, it requires disclosure of amounts reclassified out of AOCI in their entirety, by component, on the face of the statement of income and comprehensive income or in the notes thereto. Amounts that are not required to be reclassified in their entirety to net income must be cross-referenced to other disclosures that provide additional detail. This update was effective prospectively for annual and interim reporting periods beginning after December&#160;15, 2012. The implementation of this update did not cause any changes to the disclosures in, or the presentation of, our condensed consolidated financial statements.</font></p> <p style="MARGIN: 0in 0in 0pt;">&#160;</p> </div>
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
8168000 USD
CY2013Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
288000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
10142000 USD
CY2013Q3 gov Related Party Transaction Property Insurance Coverage Aggregate Amount
RelatedPartyTransactionPropertyInsuranceCoverageAggregateAmount
10000000 USD
CY2013Q3 gov Number Of Other Companies To Whom Management Services Were Provided By Related Party
NumberOfOtherCompaniesToWhomManagementServicesWereProvidedByRelatedParty
4 item
gov Straight Line Rent Continuing And Discontinued Operations
StraightLineRentContinuingAndDiscontinuedOperations
2669000 USD

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