2016 Q2 Form 10-Q Financial Statement

#000104277616000339 Filed on August 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $135.3M $146.7M
YoY Change -7.79% 5.88%
Cost Of Revenue $52.30M $61.50M
YoY Change -14.96% 7.71%
Gross Profit $83.00M $85.30M
YoY Change -2.7% 4.79%
Gross Profit Margin 61.34% 58.13%
Selling, General & Admin $8.300M $8.100M
YoY Change 2.47% 14.08%
% of Gross Profit 10.0% 9.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $31.56M $51.20M
YoY Change -38.37% 7.79%
% of Gross Profit 38.02% 60.02%
Operating Expenses $120.5M $125.9M
YoY Change -4.28% 12.4%
Operating Profit $14.79M $20.82M
YoY Change -28.97% -21.58%
Interest Expense $16.41M $18.17M
YoY Change -9.68% 0.89%
% of Operating Profit 110.97% 87.26%
Other Income/Expense, Net -$16.34M -$17.45M
YoY Change -6.35% 1.28%
Pretax Income -$1.600M $3.400M
YoY Change -147.06% -63.44%
Income Tax
% Of Pretax Income
Net Earnings $72.28M $29.98M
YoY Change 141.12% 144.12%
Net Earnings / Revenue 53.42% 20.43%
Basic Earnings Per Share
Diluted Earnings Per Share -$11.02K $22.11K
COMMON SHARES
Basic Shares Outstanding 145.2M shares 153.6M shares
Diluted Shares Outstanding 145.7M shares 153.8M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.10M $9.000M
YoY Change 134.44% 4.65%
Cash & Equivalents $21.11M $8.997M
Short-Term Investments
Other Short-Term Assets $29.70M $32.80M
YoY Change -9.45% 2.18%
Inventory $69.80M $26.10M
Prepaid Expenses
Receivables $176.0M $242.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $296.6M $310.0M
YoY Change -4.32% 39.83%
LONG-TERM ASSETS
Property, Plant & Equipment $3.462B $3.916B
YoY Change -11.59% 0.47%
Goodwill $180.1M $180.1M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $7.400M $7.700M
YoY Change -3.9% 2.67%
Other Assets $280.7M $295.5M
YoY Change -5.01% 4.01%
Total Long-Term Assets $4.002B $4.471B
YoY Change -10.5% 0.7%
TOTAL ASSETS
Total Short-Term Assets $296.6M $310.0M
Total Long-Term Assets $4.002B $4.471B
Total Assets $4.298B $4.781B
YoY Change -10.1% 2.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $122.4M $128.9M
YoY Change -5.04% 2.06%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $122.4M $128.9M
YoY Change -5.04% 2.06%
LONG-TERM LIABILITIES
Long-Term Debt $1.884B $2.320B
YoY Change -18.79% 10.12%
Other Long-Term Liabilities $85.10M $76.30M
YoY Change 11.53% 7.01%
Total Long-Term Liabilities $1.969B $2.397B
YoY Change -17.83% 10.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $122.4M $128.9M
Total Long-Term Liabilities $1.969B $2.397B
Total Liabilities $2.092B $2.525B
YoY Change -17.17% 9.58%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.673B $3.670B
YoY Change 0.08% -0.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.206B $2.255B
YoY Change
Total Liabilities & Shareholders Equity $4.298B $4.781B
YoY Change -10.1% 2.56%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $72.28M $29.98M
YoY Change 141.12% 144.12%
Depreciation, Depletion And Amortization $31.56M $51.20M
YoY Change -38.37% 7.79%
Cash From Operating Activities $53.00M $51.00M
YoY Change 3.92% 31.44%
INVESTING ACTIVITIES
Capital Expenditures -$37.90M -$26.40M
YoY Change 43.56% -62.55%
Acquisitions
YoY Change
Other Investing Activities $152.9M $55.80M
YoY Change 174.01% 145.81%
Cash From Investing Activities $115.0M $29.50M
YoY Change 289.83% -161.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -151.7M -78.90M
YoY Change 92.27% -1050.6%
NET CHANGE
Cash From Operating Activities 53.00M 51.00M
Cash From Investing Activities 115.0M 29.50M
Cash From Financing Activities -151.7M -78.90M
Net Change In Cash 16.30M 1.600M
YoY Change 918.75% -300.0%
FREE CASH FLOW
Cash From Operating Activities $53.00M $51.00M
Capital Expenditures -$37.90M -$26.40M
Free Cash Flow $90.90M $77.40M
YoY Change 17.44% -29.19%

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InterestRateCashFlowHedgeAssetAtFairValue
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22079000 USD
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us-gaap Limited Liability Company Llc Or Limited Partnership Lp Members Or Limited Partners Ownership Interest
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4000 USD
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8000 USD
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15000 USD
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4000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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8000 USD
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-17452000 USD
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38970000 USD
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125910000 USD
us-gaap Operating Expenses
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247455000 USD
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117874000 USD
us-gaap Operating Expenses
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229514000 USD
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OperatingIncomeLoss
20824000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
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OperatingIncomeLoss
17433000 USD
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43805000 USD
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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12000 USD
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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3941000 USD
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-6640000 USD
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2942000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-12771000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-1602000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-3069000 USD
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16079000 USD
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874000 USD
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OtherNonoperatingIncomeExpense
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415000 USD
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OtherNonoperatingIncomeExpense
-41000 USD
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4000000 USD
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0 USD
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138000 USD
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830000 USD
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138000 USD
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326000 USD
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PaymentsOfStockIssuanceCosts
42000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1654000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2283000 USD
us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
107772000 USD
us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
64422000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
45185000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
10000000 USD
CY2015Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
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PreferredStockNoParValue
0
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PreferredStockSharesAuthorized
100000000 shares
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
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0 USD
CY2016Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets
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24777000 USD
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87925000 USD
us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
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201690000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1054857000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
211000000 USD
CY2015Q2 us-gaap Profit Loss
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29980000 USD
us-gaap Profit Loss
ProfitLoss
49229000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
80076000 USD
us-gaap Profit Loss
ProfitLoss
90452000 USD
CY2015Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
76614000 USD
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RealEstateHeldforsale
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us-gaap Revenues
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SecuredDebt
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us-gaap Share Based Compensation
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4071000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5653000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
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179498 shares
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StockIssuedDuringPeriodValueShareBasedCompensation
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us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1648000 USD
CY2015 us-gaap Stock Repurchased And Retired During Period Value
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158860000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
7943000 USD
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2195419000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
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2312015000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2196444000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2206713000 USD
CY2015Q2 us-gaap Tenant Reimbursements
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us-gaap Tenant Reimbursements
TenantReimbursements
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TenantReimbursements
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us-gaap Tenant Reimbursements
TenantReimbursements
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CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
154174270 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145765149 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
153559076 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
153946898 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145178601 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145227539 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying consolidated financial statements and notes. Actual results could differ from those estimates.</font></div></div>

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