2016 Q2 Form 10-Q Financial Statement

#000145293616000089 Filed on May 11, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q1
Revenue $33.87M $28.37M $27.94M
YoY Change 18.14% 1.51% 13.47%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.09M $11.01M $11.23M
YoY Change 8.35% -1.97% -4.28%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $7.185M $5.176M $3.900M
YoY Change 86.28% 32.72% 13.6%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$1.959M -$4.894M $2.235M
YoY Change -228.37% -318.97% -123.24%
Net Earnings / Revenue -5.78% -17.25% 8.0%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 58.67M shares 58.69M shares 59.99M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $117.3M $273.6M $44.91M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.224B $1.267B $1.041B
YoY Change 19.45% 21.79% 5.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $869.0M $867.5M $582.4M
YoY Change 52.45% 48.97% 14.38%
SHAREHOLDERS EQUITY
Retained Earnings -$129.3M -$121.9M -$95.00M
YoY Change 30.5% 28.3% 45.36%
Common Stock $586.0K $587.0K $602.0K
YoY Change -2.66% -2.49% 1.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $351.6M $382.7M $430.1M
YoY Change
Total Liabilities & Shareholders Equity $1.224B $1.267B $1.041B
YoY Change 19.45% 21.79% 5.24%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$1.959M -$4.894M $2.235M
YoY Change -228.37% -318.97% -123.24%
Depreciation, Depletion And Amortization $12.09M $11.01M $11.23M
YoY Change 8.35% -1.97% -4.28%
Cash From Operating Activities $1.798M $2.792M
YoY Change -35.6% -195.26%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$7.425M $4.824M
YoY Change -253.92% -102.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $44.00K $1.162M
YoY Change -96.21% 95.62%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $260.9M $18.20M
YoY Change 1333.9% -90.48%
NET CHANGE
Cash From Operating Activities $1.798M $2.792M
Cash From Investing Activities -$7.425M $4.824M
Cash From Financing Activities $260.9M $18.20M
Net Change In Cash $255.3M $25.81M
YoY Change 889.06% -896.97%
FREE CASH FLOW
Cash From Operating Activities $1.798M $2.792M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2015Q1 us-gaap Investment Income Interest
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CY2016Q1 us-gaap Investment Income Interest
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CY2015Q4 us-gaap Liabilities
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867523000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
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1004214000 USD
CY2016Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1267496000 USD
CY2016Q1 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.001
CY2016Q1 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Members Or Limited Partners Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest
0.999
CY2016Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
183268000 USD
CY2016Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
52508000 USD
CY2016Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
52473000 USD
CY2016Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
82255000 USD
CY2016Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
449008000 USD
CY2015Q4 us-gaap Minority Interest
MinorityInterest
15427000 USD
CY2016Q1 us-gaap Minority Interest
MinorityInterest
15071000 USD
CY2015 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
7342000 USD
CY2016Q1 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
741000 USD
CY2015Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
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27850000 USD
CY2016Q1 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
27850000 USD
CY2015Q4 us-gaap Mortgage Loans On Real Estate Face Amount Of Mortgages
MortgageLoansOnRealEstateFaceAmountOfMortgages
27850000 USD
CY2016Q1 us-gaap Mortgage Loans On Real Estate Face Amount Of Mortgages
MortgageLoansOnRealEstateFaceAmountOfMortgages
27850000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18198000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
255806000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4824000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-15054000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2792000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1139000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
2235000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-4894000 USD
CY2015Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3150000 USD
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-38000 USD
CY2015Q1 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
0 USD
CY2016Q1 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
10855000 USD
CY2016Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segments
CY2015Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
2735000 USD
CY2016Q1 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
2427000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
392980000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
41379000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
53482000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
65842000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
76234000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
59156000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
96887000 USD
CY2015Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
21860000 USD
CY2016Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
22831000 USD
CY2015Q4 us-gaap Other Liabilities
OtherLiabilities
17905000 USD
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1162000 USD
CY2016Q1 us-gaap Other Liabilities
OtherLiabilities
27350000 USD
CY2015Q1 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
798000 USD
CY2016Q1 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
780000 USD
CY2015Q1 us-gaap Payment For Administrative Fees
PaymentForAdministrativeFees
33000 USD
CY2016Q1 us-gaap Payment For Administrative Fees
PaymentForAdministrativeFees
44000 USD
CY2015Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
10051000 USD
CY2016Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
6683000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
44000 USD
CY2015Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2087000 USD
CY2016Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2271000 USD
CY2015Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
4040000 USD
CY2016Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0 USD
CY2015Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5000 USD
CY2016Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
8824000 USD
CY2015Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
840000 USD
CY2016Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
600000 USD
CY2015Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
CY2016Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
741000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
25023000 USD
CY2016Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
26208000 USD
CY2015Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
239000 USD
CY2016Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
167000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
15734000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
0 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
5385000 USD
CY2015 us-gaap Profit Loss
ProfitLoss
7132000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-4932000 USD
CY2015Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
70000 USD
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
210000 USD
CY2015Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
91560000 USD
CY2016Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
97273000 USD
CY2015Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
914074000 USD
CY2016Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
916114000 USD
CY2016Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
13645000 USD
CY2015Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
822514000 USD
CY2016Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
818841000 USD
CY2015Q4 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
74437000 USD
CY2016Q1 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
74841000 USD
CY2015Q1 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
3659000 USD
CY2016Q1 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
3874000 USD
CY2015Q1 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
1379000 USD
CY2016Q1 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
556000 USD
CY2015Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
4813000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
5807000 USD
CY2016Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
19428000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-111527000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-121893000 USD
CY2015Q1 us-gaap Revenues
Revenues
27943000 USD
CY2016Q1 us-gaap Revenues
Revenues
28365000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
56000000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
561700000 USD
CY2015 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
13573000 USD
CY2016Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3201000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
41800000 USD
CY2015 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
30100000 USD
CY2016Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
3412000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
393363000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
382741000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
450136000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
408790000 USD
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
397812000 USD
CY2015Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
9859000 USD
CY2016Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
2161000 USD
CY2015Q1 us-gaap Tenant Reimbursements
TenantReimbursements
4310000 USD
CY2016Q1 us-gaap Tenant Reimbursements
TenantReimbursements
4754000 USD
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
60036526 shares
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
58699129 shares
CY2016Q1 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:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts in the Company&#8217;s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of the prior period. </font></div></div>
CY2016Q1 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:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. </font></div></div>

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