2017 Q2 Form 10-Q Financial Statement

#000145293617000026 Filed on May 12, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2017 Q1 2016 Q1
Revenue $40.24M $38.00M $28.37M
YoY Change 18.81% 33.95% 1.51%
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 $15.31M $14.60M $11.01M
YoY Change 26.6% 32.63% -1.97%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $10.30M $9.386M $5.176M
YoY Change 43.35% 81.34% 32.72%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $23.85M -$9.092M -$4.894M
YoY Change -1317.25% 85.78% -318.97%
Net Earnings / Revenue 59.26% -23.93% -17.25%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 56.68M shares 56.74M shares 58.69M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q2 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $100.5M $55.88M $273.6M
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 $1.403B $1.364B $1.267B
YoY Change 14.56% 7.59% 21.79%
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 $1.102B $1.083B $867.5M
YoY Change 26.82% 24.79% 48.97%
SHAREHOLDERS EQUITY
Retained Earnings -$158.1M -$176.6M -$121.9M
YoY Change 22.24% 44.9% 28.3%
Common Stock $566.0K $567.0K $587.0K
YoY Change -3.41% -3.41% -2.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $298.6M $279.2M $382.7M
YoY Change
Total Liabilities & Shareholders Equity $1.403B $1.364B $1.267B
YoY Change 14.56% 7.59% 21.79%

Cashflow Statement

Concept 2017 Q2 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $23.85M -$9.092M -$4.894M
YoY Change -1317.25% 85.78% -318.97%
Depreciation, Depletion And Amortization $15.31M $14.60M $11.01M
YoY Change 26.6% 32.63% -1.97%
Cash From Operating Activities $3.391M $1.798M
YoY Change 88.6% -35.6%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$33.09M -$7.425M
YoY Change 345.7% -253.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.681M $44.00K
YoY Change 8265.91% -96.21%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $44.12M $260.9M
YoY Change -83.09% 1333.9%
NET CHANGE
Cash From Operating Activities $3.391M $1.798M
Cash From Investing Activities -$33.09M -$7.425M
Cash From Financing Activities $44.12M $260.9M
Net Change In Cash $14.78M $255.3M
YoY Change -94.21% 889.06%
FREE CASH FLOW
Cash From Operating Activities $3.391M $1.798M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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5000 USD
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25000 USD
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CY2016Q4 us-gaap Liabilities And Stockholders Equity
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CY2017Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2017Q1 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
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0.001
CY2017Q1 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Members Or Limited Partners Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest
0.999
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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134544000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
54435000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
186570000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
113406000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
307111000 USD
CY2016Q4 us-gaap Minority Interest
MinorityInterest
1898000 USD
CY2017Q1 us-gaap Minority Interest
MinorityInterest
1926000 USD
CY2016 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
80000 USD
CY2017Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
7000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
260942000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-33093000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1798000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
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3391000 USD
CY2016Q1 us-gaap Net Income Loss
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-4894000 USD
CY2017Q1 us-gaap Net Income Loss
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-9092000 USD
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-38000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
34000 USD
CY2017Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
21 property
CY2017Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segments
CY2016Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
6551000 USD
CY2017Q1 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
6533000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
475384000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
48604000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
65195000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
82552000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
98129000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
81886000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
99018000 USD
CY2016Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
22831000 USD
CY2017Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
30646000 USD
CY2016Q4 us-gaap Other Liabilities
OtherLiabilities
18095000 USD
CY2017Q1 us-gaap Other Liabilities
OtherLiabilities
15396000 USD
CY2016Q1 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
780000 USD
CY2017Q1 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
1553000 USD
CY2016Q1 us-gaap Payment For Administrative Fees
PaymentForAdministrativeFees
44000 USD
CY2017Q1 us-gaap Payment For Administrative Fees
PaymentForAdministrativeFees
55000 USD
CY2016Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
6683000 USD
CY2017Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
5493000 USD
CY2016Q1 us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
0 USD
CY2017Q1 us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
107000 USD
CY2016Q1 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
0 USD
CY2017Q1 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
5000000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
44000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3681000 USD
CY2016Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2271000 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2323000 USD
CY2016Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0 USD
CY2017Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
7000 USD
CY2016Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
8824000 USD
CY2017Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1329000 USD
CY2016Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2017Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
140000 USD
CY2016Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
600000 USD
CY2017Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
0 USD
CY2016Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
CY2017Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
82235000 USD
CY2016Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
741000 USD
CY2017Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
29206000 USD
CY2017Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
35698000 USD
CY2016Q1 us-gaap Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
0 USD
CY2017Q1 us-gaap Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
59157000 USD
CY2016Q1 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
700000 USD
CY2017Q1 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
744000 USD
CY2016Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
167000 USD
CY2017Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
1000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-4932000 USD
CY2016 us-gaap Profit Loss
ProfitLoss
-29126000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
-9058000 USD
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
210000 USD
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-36000 USD
CY2016Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
120176000 USD
CY2017Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
130764000 USD
CY2016Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1227207000 USD
CY2017Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1322891000 USD
CY2016Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1107031000 USD
CY2017Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1192127000 USD
CY2016Q4 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
75849000 USD
CY2017Q1 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
16538000 USD
CY2016Q1 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
3874000 USD
CY2017Q1 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
4737000 USD
CY2016Q1 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
556000 USD
CY2017Q1 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
925000 USD
CY2016Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
13645000 USD
CY2017Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
35808000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
24018000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
23348000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-162289000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-176628000 USD
CY2016Q1 us-gaap Revenues
Revenues
28365000 USD
CY2017Q1 us-gaap Revenues
Revenues
37996000 USD
CY2017Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2924000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
80800000 USD
CY2016 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
38573000 USD
CY2017Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
3754000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
293652000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
279160000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
408790000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
68300000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
561700000 USD
CY2016 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
12616000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
295550000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
281086000 USD
CY2016Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 USD
CY2017Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 USD
CY2016Q1 us-gaap Tenant Reimbursements
TenantReimbursements
4754000 USD
CY2017Q1 us-gaap Tenant Reimbursements
TenantReimbursements
5637000 USD
CY2016Q1 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
0 USD
CY2017Q1 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-57000 USD
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
58699129 shares
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
56782447 shares
CY2017Q1 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. During the year ended December&#160;31, 2016, the Company elected to early adopt ASU No. 2016-18 (as defined below).&#160; As a result, the Company no longer presents transfers between cash and restricted cash in the consolidated statements of cash flows.&#160; Instead, restricted cash is included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the consolidated statements of cash flows.</font></div></div>
CY2017Q1 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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