2013 Q4 Form 10-Q Financial Statement

#000100472413000031 Filed on November 14, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $23.75M $53.65M $53.22M
YoY Change -54.26% 0.8% 31.34%
Cost Of Revenue $18.19M $43.80M $44.48M
YoY Change -59.63% -1.53% 36.27%
Gross Profit $5.570M $9.850M $8.750M
YoY Change -18.8% 12.57% 10.9%
Gross Profit Margin 23.45% 18.36% 16.44%
Selling, General & Admin $6.360M $6.590M $5.730M
YoY Change -3.49% 15.01% 10.19%
% of Gross Profit 114.18% 66.9% 65.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.670M $1.779M $1.760M
YoY Change -7.73% 1.08% 109.52%
% of Gross Profit 29.98% 18.06% 20.11%
Operating Expenses $8.020M $52.17M $52.01M
YoY Change -4.52% 0.32% 34.46%
Operating Profit -$2.450M $1.474M $1.216M
YoY Change 59.09% 21.22% -34.09%
Interest Expense -$2.060M $3.204M $3.695M
YoY Change -42.94% -13.29% 66.22%
% of Operating Profit 217.37% 303.87%
Other Income/Expense, Net -$320.0K -$1.245M -$5.871M
YoY Change -346.15% -78.79% -552.66%
Pretax Income -$4.880M $229.0K -$4.655M
YoY Change -16.15% -104.92% -248.15%
Income Tax $120.0K -$54.00K $111.0K
% Of Pretax Income -23.58%
Net Earnings -$3.090M -$218.0K -$4.506M
YoY Change -3533.33% -95.16% -262.09%
Net Earnings / Revenue -13.01% -0.41% -8.47%
Basic Earnings Per Share -$0.03 -$0.31
Diluted Earnings Per Share -$2.359M -$0.03 -$0.31
COMMON SHARES
Basic Shares Outstanding 15.77M shares 14.96M shares 14.50M shares
Diluted Shares Outstanding 14.96M shares 14.50M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.40M $12.70M $9.700M
YoY Change 22.01% 30.93% -3.0%
Cash & Equivalents $19.37M $12.72M $9.693M
Short-Term Investments
Other Short-Term Assets $15.80M $5.400M $3.600M
YoY Change 71.74% 50.0% -21.74%
Inventory
Prepaid Expenses
Receivables $23.60M $24.31M $30.40M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $58.74M $42.42M $44.00M
YoY Change 13.09% -3.58% 31.05%
LONG-TERM ASSETS
Property, Plant & Equipment $138.2M $149.7M $166.7M
YoY Change -8.46% -10.22% 98.94%
Goodwill $4.224M $5.023M $906.0K
YoY Change -15.91% 454.42%
Intangibles $42.10M $44.03M $49.87M
YoY Change -7.75% -11.71%
Long-Term Investments
YoY Change
Other Assets $12.00K $22.00K $169.0K
YoY Change -99.67% -86.98% -98.58%
Total Long-Term Assets $167.7M $180.6M $192.9M
YoY Change -8.52% -6.39% 54.67%
TOTAL ASSETS
Total Short-Term Assets $58.74M $42.42M $44.00M
Total Long-Term Assets $167.7M $180.6M $192.9M
Total Assets $226.4M $223.0M $236.9M
YoY Change -3.75% -5.87% 49.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.78M $23.05M $20.32M
YoY Change 17.16% 13.43% 101.23%
Accrued Expenses $13.26M $13.80M $12.62M
YoY Change -3.39% 9.39% 6.91%
Deferred Revenue
YoY Change
Short-Term Debt $32.20M $38.50M $1.400M
YoY Change 2046.67% 2650.0%
Long-Term Debt Due $23.40M $35.40M $30.20M
YoY Change 30.73% 17.22% 172.07%
Total Short-Term Liabilities $69.24M $75.49M $46.29M
YoY Change 21.3% 63.08% 40.4%
LONG-TERM LIABILITIES
Long-Term Debt $128.1M $128.2M $136.0M
YoY Change -13.91% -5.74% 34.52%
Other Long-Term Liabilities $1.589M $1.516M $1.728M
YoY Change 13.99% -12.27% -53.3%
Total Long-Term Liabilities $1.589M $1.516M $1.728M
YoY Change 13.99% -12.27% -98.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $69.24M $75.49M $46.29M
Total Long-Term Liabilities $1.589M $1.516M $1.728M
Total Liabilities $199.1M $206.2M $218.1M
YoY Change -5.64% -5.45% 58.25%
SHAREHOLDERS EQUITY
Retained Earnings -$39.88M -$36.15M -$19.94M
YoY Change 54.87% 81.27%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.486M $9.129M $21.06M
YoY Change
Total Liabilities & Shareholders Equity $226.4M $223.0M $236.9M
YoY Change -3.75% -5.87% 49.65%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$3.090M -$218.0K -$4.506M
YoY Change -3533.33% -95.16% -262.09%
Depreciation, Depletion And Amortization $1.670M $1.779M $1.760M
YoY Change -7.73% 1.08% 109.52%
Cash From Operating Activities $2.370M $2.950M $3.400M
YoY Change -217.33% -13.24% -1800.0%
INVESTING ACTIVITIES
Capital Expenditures -$1.470M -$1.230M -$1.140M
YoY Change -50.17% 7.89% 44.3%
Acquisitions
YoY Change
Other Investing Activities $2.910M $610.0K -$15.14M
YoY Change 179.81% -104.03% -21.06%
Cash From Investing Activities $1.440M -$620.0K -$16.29M
YoY Change -175.79% -96.19% -18.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.800M
YoY Change
Cash From Financing Activities 2.850M 170.0K 13.51M
YoY Change -71.98% -98.74% -44.99%
NET CHANGE
Cash From Operating Activities 2.370M 2.950M 3.400M
Cash From Investing Activities 1.440M -620.0K -16.29M
Cash From Financing Activities 2.850M 170.0K 13.51M
Net Change In Cash 6.660M 2.500M 620.0K
YoY Change 6.56% 303.23% -85.88%
FREE CASH FLOW
Cash From Operating Activities $2.370M $2.950M $3.400M
Capital Expenditures -$1.470M -$1.230M -$1.140M
Free Cash Flow $3.840M $4.180M $4.540M
YoY Change 312.9% -7.93% 669.49%

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us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.51
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.02
CY2012Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.32
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.51
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.61
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
126000 USD
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-188000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
203000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-1402000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.09
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.01
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.01
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.01
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.01
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.01
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.01
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.09
us-gaap Income Tax Expense Benefit
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132000 USD
CY2013Q3 us-gaap Income Tax Expense Benefit
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CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
111000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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9891000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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4335000 USD
us-gaap Increase Decrease In Accounts Receivable
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2693000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10739000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
5278000 USD
CY2013Q3 us-gaap Interest Expense
InterestExpense
3462000 USD
us-gaap Interest Expense
InterestExpense
10253000 USD
us-gaap Interest Expense
InterestExpense
9475000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-93000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-580000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
997000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
106000 USD
us-gaap Increase Decrease In Restricted Cash And Investments
IncreaseDecreaseInRestrictedCashAndInvestments
1820000 USD
us-gaap Increase Decrease In Restricted Cash And Investments
IncreaseDecreaseInRestrictedCashAndInvestments
5998000 USD
CY2013Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
2471000 USD
CY2012Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
2471000 USD
CY2012Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
46355000 USD
CY2013Q3 us-gaap Intangible Assets Net Excluding Goodwill
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44025000 USD
CY2013Q3 us-gaap Lease And Rental Expense
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CY2012Q3 us-gaap Interest Expense
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3695000 USD
us-gaap Interest Paid
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us-gaap Interest Paid
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CY2012Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1775000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
5256000 USD
us-gaap Management Fees Revenue
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1637000 USD
CY2013Q3 us-gaap Liabilities
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206170000 USD
CY2012Q4 us-gaap Liabilities
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210237000 USD
CY2012Q4 us-gaap Liabilities And Stockholders Equity
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234449000 USD
CY2013Q3 us-gaap Liabilities And Stockholders Equity
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222991000 USD
CY2013Q3 us-gaap Liabilities Current
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75494000 USD
CY2012Q4 us-gaap Liabilities Current
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56282000 USD
CY2013Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
93000 USD
CY2012Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
3662000 USD
CY2012Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
1498000 USD
CY2013Q3 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
3111000 USD
CY2013Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
51457000 USD
CY2013Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
3728000 USD
CY2013Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
19715000 USD
CY2013Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
17558000 USD
CY2013Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
36115000 USD
CY2013Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
38314000 USD
CY2013Q3 us-gaap Long Term Line Of Credit
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6167000 USD
CY2012Q4 us-gaap Long Term Line Of Credit
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CY2012Q4 us-gaap Long Term Notes And Loans
LongTermNotesAndLoans
148827000 USD
CY2013Q3 us-gaap Long Term Notes And Loans
LongTermNotesAndLoans
128154000 USD
us-gaap Management Fees Revenue
ManagementFeesRevenue
1529000 USD
CY2013Q3 us-gaap Management Fees Revenue
ManagementFeesRevenue
521000 USD
CY2012Q3 us-gaap Management Fees Revenue
ManagementFeesRevenue
588000 USD
CY2012Q4 us-gaap Minority Interest
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CY2013Q3 us-gaap Minority Interest
MinorityInterest
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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801000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
56467000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-57258000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4463000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-56965000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-6043000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3470000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2596000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
2673000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
2383000 USD
us-gaap Net Income Loss
NetIncomeLoss
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CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
-4506000 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2013Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-195000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-420000 USD
CY2012Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-134000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6978000 USD
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4506000 USD
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
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0 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
7800000 USD
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1503000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-11733000 USD
CY2012Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2013Q3 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
21634000 USD
CY2012Q4 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
6941000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
us-gaap Operating Expenses
OperatingExpenses
168488000 USD
CY2012Q3 us-gaap Operating Expenses
OperatingExpenses
52005000 USD
us-gaap Operating Expenses
OperatingExpenses
137895000 USD
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
54641000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1224000 USD
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1216000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
4264000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
27000 USD
CY2013Q3 us-gaap Operating Leases Rent Expense Net
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us-gaap Operating Leases Rent Expense Net
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5278000 USD
CY2012Q3 us-gaap Operating Leases Rent Expense Net
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1775000 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
5256000 USD
CY2013Q3 us-gaap Other Accrued Liabilities Current
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CY2012Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
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CY2013Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
22000 USD
CY2012Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
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CY2013Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1516000 USD
CY2012Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1394000 USD
CY2013Q3 us-gaap Other Long Term Debt Noncurrent
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CY2012Q4 us-gaap Other Long Term Debt Noncurrent
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CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
15000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
15000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2763000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
407000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
918000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
52482000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2666000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3285000 USD
CY2012Q4 us-gaap Pledged Assets Not Separately Reported Other Financial Instruments
PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments
1357000 USD
CY2013Q3 us-gaap Pledged Assets Not Separately Reported Other Financial Instruments
PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments
158000 USD
CY2012Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
918000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
CY2013Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
306000 USD
CY2012Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2013Q3 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2013Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2012Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
450000 shares
CY2013Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
450000 shares
CY2013Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
450000 shares
CY2012Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
450000 shares
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
9159000 USD
CY2013Q3 us-gaap Preferred Stock Value
PreferredStockValue
9159000 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
489000 USD
CY2013Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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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%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain items previously reported in the consolidated financial statement captions have been reclassified to conform to the current financial statement presentation with no effect on the Company&#8217;s consolidated financial position or results of operations.&#160; These reclassifications did not affect total assets, total liabilities, or stockholders&#8217; equity.&#160; These reclassifications in the December&#160;31, 2012 Consolidated Balance Sheets included separating "Bonds, net of discounts" within "Notes payable and other debt" within the "Total liabilities" to define the Company&#8217;s debt instruments in further detail.&#160; Reclassifications were made to September&#160;30, 2012 Consolidated Statements of Operations to reflect the same facilities in discontinued operations for both periods presented.</font></div></div>
us-gaap Proceeds From Convertible Debt
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2500000 USD
us-gaap Proceeds From Convertible Debt
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0 USD
us-gaap Proceeds From Issuance Of Common Stock
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3837000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
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us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
58788000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
1787000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
74000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
137000 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
67000 USD
CY2012Q3 us-gaap Profit Loss
ProfitLoss
-4640000 USD
us-gaap Profit Loss
ProfitLoss
-7398000 USD
CY2013Q3 us-gaap Profit Loss
ProfitLoss
-413000 USD
us-gaap Profit Loss
ProfitLoss
-10109000 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
159939000 USD
CY2013Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
163418000 USD
CY2013Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
149676000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
151064000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3374000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2286000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
121000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
419000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
5387000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
7819000 USD
CY2012Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
372000 USD
CY2013Q3 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
362000 USD
CY2013Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
3473000 USD
CY2012Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1742000 USD
CY2012Q4 us-gaap Restricted Cash And Investments
RestrictedCashAndInvestments
8957000 USD
CY2013Q3 us-gaap Restricted Cash And Investments
RestrictedCashAndInvestments
14834000 USD
CY2013Q3 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
3473000 USD
CY2012Q4 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
1742000 USD
CY2013Q3 us-gaap Restricted Cash And Investments Noncurrent
RestrictedCashAndInvestmentsNoncurrent
11361000 USD
CY2012Q4 us-gaap Restricted Cash And Investments Noncurrent
RestrictedCashAndInvestmentsNoncurrent
7215000 USD
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-36151000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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us-gaap Revenue Recognition Services Management Fees
RevenueRecognitionServicesManagementFees
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Management Fee Receivables and Revenues</font></div><div style="line-height:120%;text-indent:56px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Management fee receivables and revenue are recorded in the month that services are provided. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">September&#160;30, 2013</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2012</font><font style="font-family:inherit;font-size:10pt;">, there was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">no</font><font style="font-family:inherit;font-size:10pt;"> allowance for uncollectible management fee receivables.</font></div></div>
CY2012Q3 us-gaap Revenues
Revenues
53221000 USD
us-gaap Revenues
Revenues
168515000 USD
CY2013Q3 us-gaap Revenues
Revenues
55865000 USD
us-gaap Revenues
Revenues
142159000 USD
CY2012Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
112160000 USD
CY2012Q3 us-gaap Severance Costs
SeveranceCosts
38000 USD
CY2013Q3 us-gaap Severance Costs
SeveranceCosts
5000 USD
us-gaap Severance Costs
SeveranceCosts
154000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
639000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
737000 USD
CY2013Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
38500000 USD
CY2012Q4 us-gaap Security Deposit
SecurityDeposit
1720000 USD
CY2013Q3 us-gaap Security Deposit
SecurityDeposit
1694000 USD
CY2013Q3 us-gaap Senior Long Term Notes
SeniorLongTermNotes
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us-gaap Severance Costs
SeveranceCosts
38000 USD
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
2823000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
67000 USD
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
9129000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
15891000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
15053000 USD
CY2013Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7662000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;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%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</font></div></div>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14805000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13825000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14498000 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14962000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14805000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14498000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14962000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13825000 shares
CY2013Q3 adk Accrued Payroll Related Expenses Current
AccruedPayrollRelatedExpensesCurrent
4338000 USD
CY2012Q4 adk Accrued Payroll Related Expenses Current
AccruedPayrollRelatedExpensesCurrent
5626000 USD
CY2013Q3 adk Accumulated Impairment Loss Of Intangible Assets Excluding Goodwill
AccumulatedImpairmentLossOfIntangibleAssetsExcludingGoodwill
721000 USD
CY2013Q3 adk Allowance For Uncollectible Accounts Management Fees Receivables
AllowanceForUncollectibleAccountsManagementFeesReceivables
0 USD
CY2012Q4 adk Allowance For Uncollectible Accounts Management Fees Receivables
AllowanceForUncollectibleAccountsManagementFeesReceivables
0 USD
CY2012Q4 adk Allowance For Uncollectible Accounts Patient Care Receivables
AllowanceForUncollectibleAccountsPatientCareReceivables
3700000 USD
CY2013Q3 adk Allowance For Uncollectible Accounts Patient Care Receivables
AllowanceForUncollectibleAccountsPatientCareReceivables
5400000 USD
CY2013Q3 adk Audit Committee Investigation Expenses
AuditCommitteeInvestigationExpenses
302000 USD
adk Audit Committee Investigation Expenses
AuditCommitteeInvestigationExpenses
0 USD
CY2012Q3 adk Audit Committee Investigation Expenses
AuditCommitteeInvestigationExpenses
0 USD
adk Audit Committee Investigation Expenses
AuditCommitteeInvestigationExpenses
2284000 USD
adk Business Acquisitions Pro Forma Operating Expenses
BusinessAcquisitionsProFormaOperatingExpenses
165935000 USD
CY2013Q3 adk Business Acquisitions Pro Forma Operating Expenses
BusinessAcquisitionsProFormaOperatingExpenses
56463000 USD
CY2012Q3 adk Business Combination Acquisition Costs Net
BusinessCombinationAcquisitionCostsNet
342000 USD
CY2013Q3 adk Business Combination Acquisition Costs Net
BusinessCombinationAcquisitionCostsNet
33000 USD
adk Business Combination Acquisition Costs Net
BusinessCombinationAcquisitionCostsNet
607000 USD
adk Business Combination Acquisition Costs Net
BusinessCombinationAcquisitionCostsNet
1160000 USD
CY2013Q3 adk Closing Market Price Of Common Share
ClosingMarketPriceOfCommonShare
3.79
CY2012Q3 adk Common Stock Dividend Rate Percentage
CommonStockDividendRatePercentage
0.05
CY2013Q3 adk Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
57000 USD
CY2013Q3 adk Debt Instrument Unamortized Premium Current
DebtInstrumentUnamortizedPremiumCurrent
291000 USD
CY2013Q3 adk Debt Long Term And Short Term Combined Amount Before Unamortized Discount Premium
DebtLongTermAndShortTermCombinedAmountBeforeUnamortizedDiscountPremium
166887000 USD
CY2013Q3 adk Defeased Bonds Escrow
DefeasedBondsEscrow
3145000 USD
CY2012Q4 adk Defeased Bonds Escrow
DefeasedBondsEscrow
0 USD
adk Depreciation And Amortization Excluding Amortization Of Intangible Assets
DepreciationAndAmortizationExcludingAmortizationOfIntangibleAssets
4700000 USD
CY2013Q3 adk Depreciation And Amortization Excluding Amortization Of Intangible Assets
DepreciationAndAmortizationExcludingAmortizationOfIntangibleAssets
1900000 USD
CY2012Q3 adk Depreciation And Amortization Excluding Amortization Of Intangible Assets
DepreciationAndAmortizationExcludingAmortizationOfIntangibleAssets
1800000 USD
adk Depreciation And Amortization Excluding Amortization Of Intangible Assets
DepreciationAndAmortizationExcludingAmortizationOfIntangibleAssets
5600000 USD
CY2013Q3 adk Disposal Group Including Discontinued Operation Notes Payable
DisposalGroupIncludingDiscontinuedOperationNotesPayable
0 USD
CY2012Q4 adk Disposal Group Including Discontinued Operation Notes Payable
DisposalGroupIncludingDiscontinuedOperationNotesPayable
3662000 USD
CY2013Q3 adk Disposal Group Including Discontinued Operation Notes Payable Current
DisposalGroupIncludingDiscontinuedOperationNotesPayableCurrent
0 USD
CY2012Q4 adk Disposal Group Including Discontinued Operation Notes Payable Current
DisposalGroupIncludingDiscontinuedOperationNotesPayableCurrent
3662000 USD
CY2013Q3 adk Distribution Of Escrow Deposit Received
DistributionOfEscrowDepositReceived
300000 USD
CY2012Q4 adk Escrow Deposit Current
EscrowDepositCurrent
279000 USD
CY2013Q3 adk Escrow Deposit Current
EscrowDepositCurrent
65000 USD
CY2012Q4 adk Finite And Indefinite Lived Intangible Assets Gross
FiniteAndIndefiniteLivedIntangibleAssetsGross
50494000 USD
CY2013Q3 adk Finite And Indefinite Lived Intangible Assets Gross
FiniteAndIndefiniteLivedIntangibleAssetsGross
50494000 USD
CY2012Q4 adk Lenders Collection Account
LendersCollectionAccount
0 USD
CY2013Q3 adk Lenders Collection Account
LendersCollectionAccount
105000 USD
CY2013Q3 adk Long Term Bond Non Current
LongTermBondNonCurrent
12940000 USD
CY2012Q4 adk Long Term Bond Non Current
LongTermBondNonCurrent
16088000 USD
adk Noncash Deferred Income Tax
NoncashDeferredIncomeTax
-12000 USD
adk Noncash Deferred Income Tax
NoncashDeferredIncomeTax
-27000 USD
adk Number Of Assisted Living Facilities
NumberOfAssistedLivingFacilities
3 facility
adk Number Of Assisted Living Facilities Acquired
NumberOfAssistedLivingFacilitiesAcquired
1 facility
CY2013Q2 adk Number Of Entities Controlled By Related Party Against Which Complaint Filed In The District Court Of Oklahoma County
NumberOfEntitiesControlledByRelatedPartyAgainstWhichComplaintFiledInTheDistrictCourtOfOklahomaCounty
5 entity
adk Number Of Facilities
NumberOfFacilities
47 facility
adk Number Of Facilities Leased And Operated
NumberOfFacilitiesLeasedAndOperated
9 facility
adk Number Of Facilities Managed
NumberOfFacilitiesManaged
11 facility
adk Number Of Facilities Owned And Operated
NumberOfFacilitiesOwnedAndOperated
26 facility
adk Number Of Independent Living And Senior Housing Facilities
NumberOfIndependentLivingAndSeniorHousingFacilities
1 facility
adk Number Of Operated Variable Interest Entities
NumberOfOperatedVariableInterestEntities
1 entity
adk Number Of Skilled Nursing Facilities
NumberOfSkilledNursingFacilities
43 facility
adk Number Of Skilled Nursing Facilities Acquired
NumberOfSkilledNursingFacilitiesAcquired
8 facility
CY2013Q2 adk Number Of Skilled Nursing Facilities Owned By Related Party In Oklahoma
NumberOfSkilledNursingFacilitiesOwnedByRelatedPartyInOklahoma
5 facility
CY2013Q2 adk Number Of Skilled Nursing Facilities Which Are Alleged To Interfere With Contractual Relations And Prospective Economic Advantage Of Plaintiffs
NumberOfSkilledNursingFacilitiesWhichAreAllegedToInterfereWithContractualRelationsAndProspectiveEconomicAdvantageOfPlaintiffs
7 facility
adk Number Of Units In Facilities
NumberOfUnitsInFacilities
4800 bed
CY2013Q3 adk Numberof Board Members
NumberofBoardMembers
9 board_member
adk Operating Leases Number Of Skilled Nursing Facilities Leased
OperatingLeasesNumberOfSkilledNursingFacilitiesLeased
9 facility
CY2013Q3 adk Principal And Interest Escrow
PrincipalAndInterestEscrow
0 USD
CY2012Q4 adk Principal And Interest Escrow
PrincipalAndInterestEscrow
106000 USD
adk Proceeds From Notes Receivable
ProceedsFromNotesReceivable
3240000 USD
adk Proceeds From Notes Receivable
ProceedsFromNotesReceivable
0 USD
adk Profit Loss After Payment Of Preferred Dividends
ProfitLossAfterPaymentOfPreferredDividends
-10109000 USD
CY2012Q4 adk Restricted Cash And Cash Equivalent Reserve For Specified Purpose
RestrictedCashAndCashEquivalentReserveForSpecifiedPurpose
1602000 USD
CY2013Q3 adk Restricted Cash And Cash Equivalent Reserve For Specified Purpose
RestrictedCashAndCashEquivalentReserveForSpecifiedPurpose
1613000 USD
CY2013Q3 adk Restricted Cash Cash Equivalents And Investments Other
RestrictedCashCashEquivalentsAndInvestmentsOther
9386000 USD
CY2012Q4 adk Restricted Cash Cash Equivalents And Investments Other
RestrictedCashCashEquivalentsAndInvestmentsOther
5241000 USD
adk Restricted Stock Issued For Financings Costs
RestrictedStockIssuedForFinancingsCosts
175000 USD
adk Restricted Stock Issued For Financings Costs
RestrictedStockIssuedForFinancingsCosts
0 USD
CY2013Q3 adk Salary Retirement And Continuation Costs Reserve
SalaryRetirementAndContinuationCostsReserve
60000 USD
CY2012Q3 adk Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Restriction Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsRestrictionPeriod
P1Y
CY2012Q2 adk Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Restriction Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsRestrictionPeriod
P3Y
CY2012Q2 adk Share Based Compensation Arrangement By Share Based Payment Award Number Of Directors
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDirectors
9 directors
adk Sharebased Compensation Arrangement By Sharebased Payment Award Number Of Plans
SharebasedCompensationArrangementBySharebasedPaymentAwardNumberOfPlans
3 plan
adk Warrants Issued For Financings Costs
WarrantsIssuedForFinancingsCosts
641000 USD
adk Warrants Issued For Financings Costs
WarrantsIssuedForFinancingsCosts
9000 USD
CY2013Q3 adk Working Capital
WorkingCapital
-33100000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001004724
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
15767645 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Registrant Name
EntityRegistrantName
ADCARE HEALTH SYSTEMS, INC

Files In Submission

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0001004724-13-000031-index-headers.html Edgar Link pending
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0001004724-13-000031.txt Edgar Link pending
0001004724-13-000031-xbrl.zip Edgar Link pending
a9302013-documentx10q.htm Edgar Link pending
a9302013-ex311.htm Edgar Link pending
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adk-20130930.xml Edgar Link completed
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