2018 Q1 Form 10-Q Financial Statement

#000164437818000016 Filed on May 10, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $59.28M $54.30M
YoY Change 9.18% 12.34%
Cost Of Revenue $0.00 $24.55M
YoY Change -100.0% 13.86%
Gross Profit $59.30M $29.75M
YoY Change 99.35% 11.11%
Gross Profit Margin 100.03% 54.79%
Selling, General & Admin $36.00M $31.70M
YoY Change 13.56% 13.21%
% of Gross Profit 60.71% 106.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $400.0K $500.0K
YoY Change -20.0% 0.0%
% of Gross Profit 0.67% 1.68%
Operating Expenses $36.82M $32.22M
YoY Change 14.27% 12.67%
Operating Profit $22.46M $22.07M
YoY Change 1.75% 11.58%
Interest Expense $900.0K $500.0K
YoY Change 80.0% 400.0%
% of Operating Profit 4.01% 2.27%
Other Income/Expense, Net
YoY Change
Pretax Income $23.32M $22.52M
YoY Change 3.55% 13.56%
Income Tax $3.681M $4.610M
% Of Pretax Income 15.78% 20.47%
Net Earnings $8.356M $6.883M
YoY Change 21.4% 12.58%
Net Earnings / Revenue 14.1% 12.68%
Basic Earnings Per Share $0.52 $0.43
Diluted Earnings Per Share $0.52 $0.43
COMMON SHARES
Basic Shares Outstanding 16.07M shares 16.03M shares
Diluted Shares Outstanding 16.11M shares 16.04M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $276.4M $133.1M
YoY Change 107.66% 88.53%
Cash & Equivalents $276.4M $133.1M
Short-Term Investments
Other Short-Term Assets $8.400M $7.000M
YoY Change 20.0% 75.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $309.5M $161.4M
YoY Change 91.71% 65.92%
LONG-TERM ASSETS
Property, Plant & Equipment $2.728M $3.430M
YoY Change -20.47% -18.33%
Goodwill $1.859M $1.859M
YoY Change 0.0%
Intangibles $754.0K
YoY Change
Long-Term Investments $11.59M $271.0K
YoY Change 4174.91%
Other Assets $167.3M $176.7M
YoY Change -5.33% -23.81%
Total Long-Term Assets $215.5M $234.1M
YoY Change -7.98% -3.0%
TOTAL ASSETS
Total Short-Term Assets $309.5M $161.4M
Total Long-Term Assets $215.5M $234.1M
Total Assets $525.0M $395.6M
YoY Change 32.7% 16.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $50.20M $33.30M
YoY Change 50.75% 12.88%
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 $50.21M $33.26M
YoY Change 50.96% 12.75%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $42.00M $70.80M
YoY Change -40.68% 0.0%
Total Long-Term Liabilities $42.00M $70.80M
YoY Change -40.68% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $50.21M $33.26M
Total Long-Term Liabilities $42.00M $70.80M
Total Liabilities $92.19M $104.0M
YoY Change -11.39% -53.35%
SHAREHOLDERS EQUITY
Retained Earnings $166.3M $74.94M
YoY Change 121.94%
Common Stock $98.22M $95.12M
YoY Change 3.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $223.3M $144.9M
YoY Change
Total Liabilities & Shareholders Equity $525.0M $395.6M
YoY Change 32.7% 16.8%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $8.356M $6.883M
YoY Change 21.4% 12.58%
Depreciation, Depletion And Amortization $400.0K $500.0K
YoY Change -20.0% 0.0%
Cash From Operating Activities $165.7M $76.70M
YoY Change 116.04% 33.62%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K -$300.0K
YoY Change -66.67% 50.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$100.0K -$300.0K
YoY Change -66.67% 50.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.30M -18.30M
YoY Change -16.39% 55.08%
NET CHANGE
Cash From Operating Activities 165.7M 76.70M
Cash From Investing Activities -100.0K -300.0K
Cash From Financing Activities -15.30M -18.30M
Net Change In Cash 150.3M 58.10M
YoY Change 158.69% 27.97%
FREE CASH FLOW
Cash From Operating Activities $165.7M $76.70M
Capital Expenditures -$100.0K -$300.0K
Free Cash Flow $165.8M $77.00M
YoY Change 115.32% 33.68%

Facts In Submission

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IncomeLossFromEquityMethodInvestments
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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IncomeTaxExpenseBenefit
52024000 USD
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16551000 USD
us-gaap Income Taxes Paid
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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27035000 USD
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-1193000 USD
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
2347000 USD
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0 USD
us-gaap Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
0 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2343000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1336000 USD
CY2017Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
17000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
11000 shares
CY2018Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
36000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
31000 shares
CY2017Q1 us-gaap Interest And Other Income
InterestAndOtherIncome
450000 USD
us-gaap Interest And Other Income
InterestAndOtherIncome
657000 USD
CY2018Q1 us-gaap Interest And Other Income
InterestAndOtherIncome
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us-gaap Interest And Other Income
InterestAndOtherIncome
1860000 USD
CY2017Q1 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
1004000 USD
us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
2014000 USD
CY2018Q1 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
1065000 USD
us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
2447000 USD
CY2017Q3 us-gaap Liabilities
Liabilities
94056000 USD
CY2018Q1 us-gaap Liabilities
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92185000 USD
CY2017Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
383719000 USD
CY2018Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
524961000 USD
CY2017Q3 us-gaap Liabilities Current
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26414000 USD
CY2018Q1 us-gaap Liabilities Current
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50212000 USD
CY2017Q1 us-gaap Management Fees Incentive Revenue
ManagementFeesIncentiveRevenue
0 USD
us-gaap Management Fees Incentive Revenue
ManagementFeesIncentiveRevenue
52407000 USD
CY2018Q1 us-gaap Management Fees Incentive Revenue
ManagementFeesIncentiveRevenue
0 USD
us-gaap Management Fees Incentive Revenue
ManagementFeesIncentiveRevenue
155881000 USD
CY2017Q1 us-gaap Management Fees Revenue
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43258000 USD
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85985000 USD
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us-gaap Management Fees Revenue
ManagementFeesRevenue
95129000 USD
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us-gaap Net Cash Provided By Used In Financing Activities
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-33639000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-38190000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-277000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
101141000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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206177000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
6883000 USD
us-gaap Net Income Loss
NetIncomeLoss
30393000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
8356000 USD
us-gaap Net Income Loss
NetIncomeLoss
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CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
47555000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
11286000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
99490000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Parent Diluted
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6869000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
30364000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
8307000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
78989000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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6869000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
30364000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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8307000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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78989000 USD
CY2017Q1 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
10865000 USD
us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
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47555000 USD
CY2018Q1 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
11286000 USD
us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
99362000 USD
us-gaap Number Of Reportable Segments
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1 segment
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
32223000 USD
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OperatingExpenses
61851000 USD
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
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OperatingExpenses
72968000 USD
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OperatingIncomeLoss
22073000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
97739000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
22459000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
204854000 USD
CY2017Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
171975000 USD
CY2018Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
167268000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
10000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
10000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
128000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
8041000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
8081000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
277000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
265000 USD
CY2017Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7092000 USD
CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8428000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
17748000 USD
us-gaap Profit Loss
ProfitLoss
77948000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
19642000 USD
us-gaap Profit Loss
ProfitLoss
178966000 USD
CY2017Q1 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
8629000 USD
us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
16851000 USD
CY2018Q1 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
10510000 USD
us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
21368000 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3276000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2728000 USD
CY2017Q1 us-gaap Reimbursement Revenue
ReimbursementRevenue
10034000 USD
us-gaap Reimbursement Revenue
ReimbursementRevenue
19184000 USD
CY2018Q1 us-gaap Reimbursement Revenue
ReimbursementRevenue
11657000 USD
us-gaap Reimbursement Revenue
ReimbursementRevenue
24365000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
86836000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
166312000 USD
CY2017Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
53866000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
158550000 USD
CY2018Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
59024000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
276937000 USD
CY2017Q1 us-gaap Revenues
Revenues
54296000 USD
us-gaap Revenues
Revenues
159590000 USD
CY2018Q1 us-gaap Revenues
Revenues
59281000 USD
us-gaap Revenues
Revenues
277822000 USD
CY2017Q1 us-gaap Salaries And Wages
SalariesAndWages
22983000 USD
us-gaap Salaries And Wages
SalariesAndWages
45287000 USD
CY2018Q1 us-gaap Salaries And Wages
SalariesAndWages
28073000 USD
us-gaap Salaries And Wages
SalariesAndWages
54270000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
223264000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
289663000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
432776000 USD
CY2017Q1 us-gaap Severance Costs1
SeveranceCosts1
0 USD
us-gaap Severance Costs1
SeveranceCosts1
0 USD
CY2018Q1 us-gaap Severance Costs1
SeveranceCosts1
136000 USD
us-gaap Severance Costs1
SeveranceCosts1
136000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1566000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2494000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1217000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3938000 USD
CY2017Q1 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
815000 USD
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
-3787000 USD
CY2018Q1 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
918000 USD
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
-11487000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
2339000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
149531000 USD
us-gaap Straight Line Rent
StraightLineRent
-138000 USD
CY2017Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
14000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
29000 USD
CY2018Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
49000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
487000 USD
CY2017Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
14000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
29000 USD
CY2018Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
49000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
487000 USD
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16042000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16036000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16105000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16095000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16025000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16025000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16069000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16064000 shares

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