2018 Q2 Form 10-Q Financial Statement

#000157128318000045 Filed on August 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $51.76M $36.78M
YoY Change 40.71% 20.17%
Cost Of Revenue $12.78M $9.540M
YoY Change 33.96% 19.85%
Gross Profit $38.98M $27.25M
YoY Change 43.05% 20.31%
Gross Profit Margin 75.31% 74.09%
Selling, General & Admin $6.510M $5.120M
YoY Change 27.15% 13.27%
% of Gross Profit 16.7% 18.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.70M $14.50M
YoY Change 35.86% 15.08%
% of Gross Profit 50.54% 53.21%
Operating Expenses $39.06M $29.17M
YoY Change 33.87% 16.28%
Operating Profit -$76.00K $26.88M
YoY Change -100.28% 19.28%
Interest Expense $6.452M $4.302M
YoY Change 49.98% 15.77%
% of Operating Profit 16.0%
Other Income/Expense, Net $6.489M $4.322M
YoY Change 50.14% -0.67%
Pretax Income $7.820M $19.86M
YoY Change -60.62% 55.28%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $7.690M $19.32M
YoY Change -60.2% 56.17%
Net Earnings / Revenue 14.86% 52.54%
Basic Earnings Per Share $0.06 $0.26
Diluted Earnings Per Share $0.06 $0.26
COMMON SHARES
Basic Shares Outstanding 82.92M shares 67.92M shares
Diluted Shares Outstanding 83.49M shares 68.33M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $162.7M $13.10M
YoY Change 1141.98% -55.14%
Cash & Equivalents $162.7M $13.12M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $162.7M $13.10M
YoY Change 1141.98% -55.14%
LONG-TERM ASSETS
Property, Plant & Equipment $2.327B $1.604B
YoY Change 45.08% 24.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.600M $2.300M
YoY Change -30.43% -45.28%
Other Assets $1.600M $2.200M
YoY Change -27.27% -88.48%
Total Long-Term Assets $2.450B $1.692B
YoY Change 44.77% 22.33%
TOTAL ASSETS
Total Short-Term Assets $162.7M $13.10M
Total Long-Term Assets $2.450B $1.692B
Total Assets $2.612B $1.705B
YoY Change 53.2% 20.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.70M $14.30M
YoY Change 37.76% 31.19%
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 $55.20M $41.70M
YoY Change 32.37% 23.01%
LONG-TERM LIABILITIES
Long-Term Debt $757.1M $561.5M
YoY Change 34.84% 12.17%
Other Long-Term Liabilities $60.30M $17.10M
YoY Change 252.63% 11.76%
Total Long-Term Liabilities $817.4M $578.6M
YoY Change 41.27% 12.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $55.20M $41.70M
Total Long-Term Liabilities $817.4M $578.6M
Total Liabilities $872.5M $620.3M
YoY Change 40.67% 12.83%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.616B $1.028B
YoY Change 57.16% 14.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.710B $1.061B
YoY Change
Total Liabilities & Shareholders Equity $2.612B $1.705B
YoY Change 53.2% 20.72%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $7.690M $19.32M
YoY Change -60.2% 56.17%
Depreciation, Depletion And Amortization $19.70M $14.50M
YoY Change 35.86% 15.08%
Cash From Operating Activities $19.90M $12.20M
YoY Change 63.11% 18.45%
INVESTING ACTIVITIES
Capital Expenditures -$11.60M -$10.80M
YoY Change 7.41% 20.0%
Acquisitions
YoY Change
Other Investing Activities -$263.8M -$161.2M
YoY Change 63.65% -12.1%
Cash From Investing Activities -$275.4M -$172.1M
YoY Change 60.02% -10.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 398.4M 154.7M
YoY Change 157.53% -30.63%
NET CHANGE
Cash From Operating Activities 19.90M 12.20M
Cash From Investing Activities -275.4M -172.1M
Cash From Financing Activities 398.4M 154.7M
Net Change In Cash 142.9M -5.200M
YoY Change -2848.08% -112.71%
FREE CASH FLOW
Cash From Operating Activities $19.90M $12.20M
Capital Expenditures -$11.60M -$10.80M
Free Cash Flow $31.50M $23.00M
YoY Change 36.96% 19.17%

Facts In Submission

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100000 USD
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151000 USD
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0 USD
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0 USD
us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
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19237000 USD
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1608000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
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us-gaap General And Administrative Expense
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us-gaap General And Administrative Expense
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us-gaap Income Loss From Equity Method Investments
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11000 USD
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0 USD
us-gaap Income Loss From Equity Method Investments
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0 USD
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us-gaap Income Tax Expense Benefit
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0 USD
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0 USD
us-gaap Income Tax Expense Benefit
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0 USD
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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337000 USD
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524000 USD
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636000 USD
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2363000 USD
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-847000 USD
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646000 USD
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2364000 USD
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4302000 USD
us-gaap Interest Expense
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8300000 USD
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us-gaap Interest Income Operating
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445000 USD
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us-gaap Interest Paid Capitalized
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us-gaap Interest Paid Capitalized
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us-gaap Interest Paid Capitalized
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us-gaap Interest Paid Capitalized
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900000 USD
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219000 USD
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0 USD
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2062-06-01
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158000 USD
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76000 USD
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145000 USD
us-gaap Management Fees Revenue
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271000 USD
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140000 USD
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770000 USD
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us-gaap Net Income Loss
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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447000 USD
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us-gaap Net Income Loss Available To Common Stockholders Basic
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22022000 USD
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5172000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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17418000 USD
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us-gaap Operating Expenses
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us-gaap Operating Expenses
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142644000 USD
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108000 USD
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347000 USD
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117000 USD
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346000 USD
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2250000 USD
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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193000 USD
us-gaap Payments Of Debt Extinguishment Costs
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0 USD
us-gaap Payments Of Dividends Common Stock
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18643000 USD
us-gaap Payments Of Dividends Common Stock
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650000 USD
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2644000 USD
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2110000 USD
us-gaap Payments Of Financing Costs
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us-gaap Payments To Acquire Real Estate
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329763000 USD
CY2017Q2 us-gaap Preferred Stock Dividends Income Statement Impact
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1322000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
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2644000 USD
CY2018Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2424000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
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4847000 USD
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0.01
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10000000 shares
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us-gaap Proceeds From Collection Of Notes Receivable
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0 USD
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11000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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0 USD
us-gaap Proceeds From Issuance Of Common Stock
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118354000 USD
us-gaap Proceeds From Issuance Of Common Stock
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374105000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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265000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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401000000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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64406000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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35177000 USD
CY2017Q2 us-gaap Profit Loss
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19855000 USD
us-gaap Profit Loss
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25576000 USD
CY2018Q2 us-gaap Profit Loss
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7819000 USD
us-gaap Profit Loss
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22903000 USD
us-gaap Provision For Doubtful Accounts
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629000 USD
us-gaap Provision For Doubtful Accounts
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411000 USD
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173541000 USD
CY2018Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
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200006000 USD
CY2017Q4 us-gaap Real Estate Investment Property At Cost
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2161965000 USD
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2527046000 USD
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36419000 USD
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51616000 USD
us-gaap Real Estate Revenue Net
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100049000 USD
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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108000 USD
CY2017Q4 us-gaap Recorded Third Party Environmental Recoveries Receivable
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1100000 USD
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1100000 USD
us-gaap Repayments Of Long Term Debt
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311466000 USD
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250000 USD
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0 USD
CY2017Q2 us-gaap Revenues
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36782000 USD
us-gaap Revenues
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72136000 USD
CY2018Q2 us-gaap Revenues
Revenues
51756000 USD
us-gaap Revenues
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100292000 USD
CY2017Q4 us-gaap Security Deposit Liability
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19521000 USD
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20534000 USD
us-gaap Share Based Compensation
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2740000 USD
us-gaap Share Based Compensation
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5623000 USD
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30.56
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500000 USD
us-gaap Stock Issued During Period Value New Issues
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120535000 USD
us-gaap Stock Issued During Period Value New Issues
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380298000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
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2853000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
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5733000 USD
CY2017Q4 us-gaap Stockholders Equity
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CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
1710479000 USD
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962140000 USD
us-gaap Straight Line Rent
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3642000 USD
us-gaap Straight Line Rent
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1952000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1084978000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1365254000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1739833000 USD
CY2017Q4 us-gaap Tenant Improvements
TenantImprovements
49692000 USD
CY2018Q2 us-gaap Tenant Improvements
TenantImprovements
53531000 USD
CY2017Q2 us-gaap Tenant Reimbursements
TenantReimbursements
5172000 USD
us-gaap Tenant Reimbursements
TenantReimbursements
10327000 USD
CY2018Q2 us-gaap Tenant Reimbursements
TenantReimbursements
7932000 USD
us-gaap Tenant Reimbursements
TenantReimbursements
15225000 USD
CY2017Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
156000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
247000 USD
CY2018Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
94000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
191000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68331234 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67483100 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83494825 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81357129 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67920773 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67135319 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82924208 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80820870 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.&#160;&#160;</font></div></div>

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