2018 Q1 Form 10-Q Financial Statement

#000147409818000036 Filed on April 26, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $181.1M $182.2M
YoY Change -0.62% -7.17%
Cost Of Revenue $114.1M $114.4M
YoY Change -0.22% -6.15%
Gross Profit $66.91M $67.70M
YoY Change -1.16% -8.88%
Gross Profit Margin 36.96% 37.16%
Selling, General & Admin $14.50M $19.90M
YoY Change -27.14% 3.11%
% of Gross Profit 21.67% 29.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.90M $26.30M
YoY Change -5.32% 4.78%
% of Gross Profit 37.21% 38.85%
Operating Expenses $39.40M $46.20M
YoY Change -14.72% 4.29%
Operating Profit $31.39M $20.53M
YoY Change 52.88% -31.58%
Interest Expense $9.811M $9.341M
YoY Change 5.03% -13.52%
% of Operating Profit 31.26% 45.5%
Other Income/Expense, Net $2.510M $64.00K
YoY Change 3821.88% -103.61%
Pretax Income $24.09M $11.25M
YoY Change 114.03% -14.39%
Income Tax -$429.0K -$2.835M
% Of Pretax Income -1.78% -25.19%
Net Earnings $24.41M $14.03M
YoY Change 73.93% -15.35%
Net Earnings / Revenue 13.48% 7.7%
Basic Earnings Per Share $0.29 $0.14
Diluted Earnings Per Share $0.29 $0.14
COMMON SHARES
Basic Shares Outstanding 68.88M shares 71.61M shares
Diluted Shares Outstanding 69.21M shares 71.89M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.00M $31.90M
YoY Change -49.84% 12.72%
Cash & Equivalents $15.97M $31.94M
Short-Term Investments
Other Short-Term Assets $51.60M $40.60M
YoY Change 27.09% -9.17%
Inventory
Prepaid Expenses
Receivables $33.80M $29.10M
Other Receivables $0.00 $0.00
Total Short-Term Assets $101.4M $101.6M
YoY Change -0.2% -2.68%
LONG-TERM ASSETS
Property, Plant & Equipment $2.476B $2.593B
YoY Change -4.51% -4.49%
Goodwill
YoY Change
Intangibles $28.89M $29.48M
YoY Change -2.0% -1.96%
Long-Term Investments $157.8M
YoY Change
Other Assets $7.300M $118.1M
YoY Change -93.82% 1081.0%
Total Long-Term Assets $2.641B $2.711B
YoY Change -2.59% -8.65%
TOTAL ASSETS
Total Short-Term Assets $101.4M $101.6M
Total Long-Term Assets $2.641B $2.711B
Total Assets $2.742B $2.812B
YoY Change -2.51% -8.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $135.7M $146.8M
YoY Change -7.56% -6.32%
Accrued Expenses $3.300M $3.300M
YoY Change 0.0% -23.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $198.6M $202.3M
YoY Change -1.83% -4.62%
LONG-TERM LIABILITIES
Long-Term Debt $1.043B $1.073B
YoY Change -2.84% -15.32%
Other Long-Term Liabilities $2.700M
YoY Change
Total Long-Term Liabilities $1.043B $1.076B
YoY Change -3.09% -15.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $198.6M $202.3M
Total Long-Term Liabilities $1.043B $1.076B
Total Liabilities $1.242B $1.278B
YoY Change -2.88% -13.6%
SHAREHOLDERS EQUITY
Retained Earnings -$197.4M -$185.7M
YoY Change 6.3% 46.34%
Common Stock $689.0K $699.0K
YoY Change -1.43% -2.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.495B $1.530B
YoY Change
Total Liabilities & Shareholders Equity $2.742B $2.812B
YoY Change -2.51% -8.45%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $24.41M $14.03M
YoY Change 73.93% -15.35%
Depreciation, Depletion And Amortization $24.90M $26.30M
YoY Change -5.32% 4.78%
Cash From Operating Activities $41.29M $37.15M
YoY Change 11.14% -20.03%
INVESTING ACTIVITIES
Capital Expenditures -$16.20M -$21.80M
YoY Change -25.69% -39.11%
Acquisitions
YoY Change
Other Investing Activities -$158.2M $0.00
YoY Change -100.0%
Cash From Investing Activities -$174.4M -$21.83M
YoY Change 699.12% -34.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.507M $62.44M
YoY Change -95.99% 2401.76%
Debt Paid & Issued, Net $592.0K
YoY Change
Cash From Financing Activities $123.8M -$17.06M
YoY Change -825.69% 49.99%
NET CHANGE
Cash From Operating Activities $41.29M $37.15M
Cash From Investing Activities -$174.4M -$21.83M
Cash From Financing Activities $123.8M -$17.06M
Net Change In Cash -$9.310M -$1.738M
YoY Change 435.67% -189.73%
FREE CASH FLOW
Cash From Operating Activities $41.29M $37.15M
Capital Expenditures -$16.20M -$21.80M
Free Cash Flow $57.49M $58.95M
YoY Change -2.48% -28.33%

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0.997
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-17063000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
123824000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-21827000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-174425000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
37152000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
41291000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
14034000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
24409000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
55000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
107000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10011000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
20386000 USD
CY2017Q1 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
107000 USD
CY2018Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
28 property
CY2017Q1 us-gaap Occupancy Costs
OccupancyCosts
32983000 USD
CY2018Q1 us-gaap Occupancy Costs
OccupancyCosts
31708000 USD
CY2017Q1 us-gaap Occupancy Revenue
OccupancyRevenue
125570000 USD
CY2018Q1 us-gaap Occupancy Revenue
OccupancyRevenue
122471000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
20531000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
31388000 USD
CY2017Q1 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
1049000 USD
CY2018Q1 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
0 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-579000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
2104000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
5278000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-579000 USD
CY2017Q1 us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
52168000 USD
CY2018Q1 us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
51839000 USD
CY2017Q1 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
12976000 USD
CY2018Q1 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
14016000 USD
CY2017Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-15000 USD
CY2018Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-502000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
64000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2447000 USD
CY2017Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
21821000 USD
CY2018Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
16179000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
62444000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2507000 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
28029000 USD
CY2018Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
26753000 USD
CY2017Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
4023000 USD
CY2018Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
4023000 USD
CY2017Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2000 USD
CY2018Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2017Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
62000 USD
CY2018Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2017Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0 USD
CY2018Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
158338000 USD
CY2017Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
6000 USD
CY2018Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
5000 USD
CY2017Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
4023000 USD
CY2018Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
4023000 USD
CY2017Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
250000000 USD
CY2018Q1 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
250000000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q1 us-gaap Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
25.00
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
10000000 shares
CY2018Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
10000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
10000000 shares
CY2018Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
10000000 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
100000 USD
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
100000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
43642000 USD
CY2018Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
51587000 USD
CY2017Q1 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
0 USD
CY2018Q1 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
97000 USD
CY2017Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
132000000 USD
CY2018Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
226286000 USD
CY2017Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
107000 USD
CY2018Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
14089000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
24516000 USD
CY2017Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
447622000 USD
CY2018Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
472294000 USD
CY2017Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2904072000 USD
CY2018Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2918964000 USD
CY2017Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2456450000 USD
CY2018Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2446670000 USD
CY2017Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
10000000 USD
CY2018Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
68286000 USD
CY2017Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
44996000 USD
CY2018Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
592000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
7123000 USD
CY2018Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
7254000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-191013000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-197359000 USD
CY2017Q1 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
182178000 USD
CY2018Q1 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
181055000 USD
CY2017Q4 us-gaap Secured Debt
SecuredDebt
70457000 USD
CY2018Q1 us-gaap Secured Debt
SecuredDebt
69875000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1127000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
-269000 USD
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P6Y
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1207886 shares
CY2017Q1 us-gaap Stock Issued1
StockIssued1
503000 USD
CY2018Q1 us-gaap Stock Issued1
StockIssued1
662000 USD
CY2017Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
62444000 USD
CY2018Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2507000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
1498901000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
1495412000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1609116000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1533986000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1503526000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1500330000 USD
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71892820 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69208048 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71610994 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68876444 shares
CY2017Q1 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
356000 USD
CY2018Q1 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 USD
CY2018Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using management&#8217;s best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates.</font></div></div>

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