2018 Q4 Form 10-Q Financial Statement

#000147620418000033 Filed on November 05, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $118.1M $104.9M $102.8M
YoY Change 14.94% 48.53% 54.94%
Cost Of Revenue $38.90M $32.10M $33.50M
YoY Change 16.12% 48.61% 61.06%
Gross Profit $79.20M $72.80M $69.20M
YoY Change 14.45% 48.57% 52.09%
Gross Profit Margin 67.05% 69.4% 67.34%
Selling, General & Admin $12.90M $13.60M $34.90M
YoY Change -63.04% 56.32% 330.86%
% of Gross Profit 16.29% 18.68% 50.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $54.20M $45.20M $45.70M
YoY Change 18.6% 60.85% 69.26%
% of Gross Profit 68.43% 62.09% 66.04%
Operating Expenses $65.90M $108.2M $79.40M
YoY Change -17.0% 67.4% 121.17%
Operating Profit $13.30M -$35.38M -$10.20M
YoY Change -230.39% 126.44% -206.25%
Interest Expense -$21.50M $17.34M -$17.10M
YoY Change 25.73% 62.84% 98.84%
% of Operating Profit -161.65%
Other Income/Expense, Net -$224.0K
YoY Change -3833.33%
Pretax Income $79.20M -$16.30M -$33.30M
YoY Change -337.84% 94.05% -1000.0%
Income Tax
% Of Pretax Income
Net Earnings $65.32M -$13.23M -$30.07M
YoY Change -317.2% 60.69% -915.18%
Net Earnings / Revenue 55.3% -12.61% -29.26%
Basic Earnings Per Share
Diluted Earnings Per Share $0.48 -$0.22 -$0.49
COMMON SHARES
Basic Shares Outstanding 184.0M shares 183.7M shares 184.5M shares
Diluted Shares Outstanding 228.2M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.80M $6.100M $5.700M
YoY Change 194.74% -15.28% -30.49%
Cash & Equivalents $16.79M $6.111M $5.716M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $17.40M
Prepaid Expenses $8.015M $4.232M
Receivables $5.100M $6.400M $6.100M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $39.30M $12.50M $11.80M
YoY Change 233.05% 3.31% 43.9%
LONG-TERM ASSETS
Property, Plant & Equipment $4.815B $3.154B $3.290B
YoY Change 46.35% 35.44% 46.24%
Goodwill $29.07M $29.07M $29.09M
YoY Change -0.07%
Intangibles
YoY Change
Long-Term Investments $45.70M
YoY Change
Other Assets $67.50M $27.80M $21.70M
YoY Change 211.06% 363.33% -47.96%
Total Long-Term Assets $5.124B $3.406B $3.514B
YoY Change 45.81% 39.73% 48.16%
TOTAL ASSETS
Total Short-Term Assets $39.30M $12.50M $11.80M
Total Long-Term Assets $5.124B $3.406B $3.514B
Total Assets $5.163B $3.418B $3.526B
YoY Change 46.44% 39.55% 48.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $122.4M $153.5M $149.7M
YoY Change -18.24% 108.84% 167.32%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $122.4M $153.5M $149.7M
YoY Change -18.24% 108.84% 167.32%
LONG-TERM LIABILITIES
Long-Term Debt $2.439B $1.843B $1.807B
YoY Change 34.96% 50.47% 71.09%
Other Long-Term Liabilities $189.3M $82.20M $90.70M
YoY Change 108.71% 93.87% 109.47%
Total Long-Term Liabilities $2.628B $1.925B $1.898B
YoY Change 38.49% 51.92% 72.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $122.4M $153.5M $149.7M
Total Long-Term Liabilities $2.628B $1.925B $1.898B
Total Liabilities $2.751B $2.079B $2.047B
YoY Change 34.35% 55.05% 77.2%
SHAREHOLDERS EQUITY
Retained Earnings -$692.0M -$721.0M -$601.2M
YoY Change 15.1% 33.56% 37.22%
Common Stock $2.798M $1.837M $1.852M
YoY Change 51.08% -0.22% 0.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.998B $927.8M $1.046B
YoY Change
Total Liabilities & Shareholders Equity $5.163B $3.418B $3.526B
YoY Change 46.44% 39.55% 48.14%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income $65.32M -$13.23M -$30.07M
YoY Change -317.2% 60.69% -915.18%
Depreciation, Depletion And Amortization $54.20M $45.20M $45.70M
YoY Change 18.6% 60.85% 69.26%
Cash From Operating Activities $31.30M $44.20M $41.40M
YoY Change -24.4% 138.92% 131.28%
INVESTING ACTIVITIES
Capital Expenditures $383.2M $12.00M $465.9M
YoY Change -17.75% 9.09% 4964.13%
Acquisitions
YoY Change
Other Investing Activities $140.5M $9.000M -$41.70M
YoY Change -436.93% -125.07% 25.23%
Cash From Investing Activities -$242.6M -$3.000M -$507.6M
YoY Change -52.21% -93.6% 1094.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 261.7M -32.30M 480.5M
YoY Change -45.54% -204.87% 935.56%
NET CHANGE
Cash From Operating Activities 31.30M 44.20M 41.40M
Cash From Investing Activities -242.6M -3.000M -507.6M
Cash From Financing Activities 261.7M -32.30M 480.5M
Net Change In Cash 50.40M 8.900M 14.30M
YoY Change 252.45% 270.83% -34.4%
FREE CASH FLOW
Cash From Operating Activities $31.30M $44.20M $41.40M
Capital Expenditures $383.2M $12.00M $465.9M
Free Cash Flow -$351.9M $32.20M -$424.5M
YoY Change -17.1% 329.33% -4979.31%

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0 USD
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39346000 USD
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5454000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
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5454000 USD
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us-gaap Related Party Transaction Expenses From Transactions With Related Party
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2649000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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2739000 shares
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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186141000 shares
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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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;font-size:8pt;"><font style="font-family:Verdana,sans-serif;font-size:8pt;">The following line items on our consolidated statements of operations and comprehensive income (loss) for the </font><font style="font-family:Verdana,sans-serif;font-size:8pt;">three and nine</font><font style="font-family:Verdana,sans-serif;font-size:8pt;"> months ended </font><font style="font-family:Verdana,sans-serif;font-size:8pt;">September 30,</font><font style="font-family:Verdana,sans-serif;font-size:8pt;"> </font><font style="font-family:Verdana,sans-serif;font-size:8pt;">2017</font><font style="font-family:Verdana,sans-serif;font-size:8pt;">, were reclassified:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:24px;"><font style="font-family:Verdana,sans-serif;font-size:8pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:Verdana,sans-serif;font-size:8pt;">Unrealized (Loss) Gain on Derivatives and Reclassification of Derivative Loss to Interest Expense were combined to Change in Unrealized Gain (Loss) on Interest Rate Swaps.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:24px;"><font style="font-family:Verdana,sans-serif;font-size:8pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:Verdana,sans-serif;font-size:8pt;">Acquisition Expenses were combined to General and Administrative.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:8px;font-size:8pt;"><font style="font-family:Verdana,sans-serif;font-size:8pt;">The following line items on our consolidated statements of cash flows for the </font><font style="font-family:Verdana,sans-serif;font-size:8pt;text-transform:default;">nine months ended September 30, 2017</font><font style="font-family:Verdana,sans-serif;font-size:8pt;"> were reclassified:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:24px;"><font style="font-family:Verdana,sans-serif;font-size:8pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:Verdana,sans-serif;font-size:8pt;">Net Loss (Gain) on Write-off of Unamortized Capitalized Leasing Commissions, Market Debt Adjustments, and Deferred Financing Expense was combined to Other.</font></div></td></tr></table></div>

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