2018 Q2 Form 10-Q Financial Statement

#000164437818000026 Filed on August 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $62.08M $55.50M
YoY Change 11.86% 6.3%
Cost Of Revenue $0.00 $24.77M
YoY Change -100.0% 9.02%
Gross Profit $62.10M $30.73M
YoY Change 102.06% 4.21%
Gross Profit Margin 100.03% 55.37%
Selling, General & Admin $37.50M $33.30M
YoY Change 12.61% 15.62%
% of Gross Profit 60.39% 108.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $200.0K $500.0K
YoY Change -60.0% 66.67%
% of Gross Profit 0.32% 1.63%
Operating Expenses $40.26M $33.78M
YoY Change 19.21% 11.2%
Operating Profit $21.82M $21.73M
YoY Change 0.44% -0.51%
Interest Expense $1.100M $400.0K
YoY Change 175.0% 300.0%
% of Operating Profit 5.04% 1.84%
Other Income/Expense, Net
YoY Change
Pretax Income $22.91M $22.13M
YoY Change 3.53% 1.02%
Income Tax $3.462M $4.528M
% Of Pretax Income 15.11% 20.46%
Net Earnings $8.381M $6.857M
YoY Change 22.23% 2.37%
Net Earnings / Revenue 13.5% 12.35%
Basic Earnings Per Share $0.52 $0.43
Diluted Earnings Per Share $0.52 $0.43
COMMON SHARES
Basic Shares Outstanding 16.09M shares 16.04M shares
Diluted Shares Outstanding 16.14M shares 16.06M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $280.5M $137.7M
YoY Change 103.7% 69.79%
Cash & Equivalents $280.5M $137.7M
Short-Term Investments
Other Short-Term Assets $10.10M $8.300M
YoY Change 21.69% 69.39%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $314.8M $173.0M
YoY Change 81.95% 59.34%
LONG-TERM ASSETS
Property, Plant & Equipment $2.713M $3.329M
YoY Change -18.5% -16.78%
Goodwill $1.859M $1.859M
YoY Change 0.0%
Intangibles $608.0K
YoY Change
Long-Term Investments $11.42M $208.0K
YoY Change 5390.38%
Other Assets $164.9M $174.3M
YoY Change -5.4% -23.91%
Total Long-Term Assets $212.8M $230.9M
YoY Change -7.87% -2.97%
TOTAL ASSETS
Total Short-Term Assets $314.8M $173.0M
Total Long-Term Assets $212.8M $230.9M
Total Assets $527.6M $404.0M
YoY Change 30.6% 16.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $51.00M $41.20M
YoY Change 23.79% 17.38%
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 $51.02M $41.21M
YoY Change 23.8% 17.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $42.20M $70.30M
YoY Change -39.97% -0.28%
Total Long-Term Liabilities $42.20M $70.30M
YoY Change -39.97% -0.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $51.02M $41.21M
Total Long-Term Liabilities $42.20M $70.30M
Total Liabilities $93.23M $111.5M
YoY Change -16.38% -51.29%
SHAREHOLDERS EQUITY
Retained Earnings $174.7M $81.79M
YoY Change 113.58%
Common Stock $98.53M $95.27M
YoY Change 3.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $227.9M $147.9M
YoY Change
Total Liabilities & Shareholders Equity $527.6M $404.0M
YoY Change 30.6% 16.56%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $8.381M $6.857M
YoY Change 22.23% 2.37%
Depreciation, Depletion And Amortization $200.0K $500.0K
YoY Change -60.0% 66.67%
Cash From Operating Activities $22.50M $21.80M
YoY Change 3.21% -14.51%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K -$300.0K
YoY Change -33.33%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$200.0K -$300.0K
YoY Change -33.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -18.10M -16.80M
YoY Change 7.74% 12.75%
NET CHANGE
Cash From Operating Activities 22.50M 21.80M
Cash From Investing Activities -200.0K -300.0K
Cash From Financing Activities -18.10M -16.80M
Net Change In Cash 4.200M 4.700M
YoY Change -10.64% -55.66%
FREE CASH FLOW
Cash From Operating Activities $22.50M $21.80M
Capital Expenditures -$200.0K -$300.0K
Free Cash Flow $22.70M $22.10M
YoY Change 2.71% -13.33%

Facts In Submission

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IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
23045000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
254469000 USD
CY2017Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
4000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-161000 USD
CY2018Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-134000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-568000 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4528000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24811000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3462000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
55486000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
23336000 USD
us-gaap Income Taxes Paid
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30174000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
24682000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
28824000 USD
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
5779000 USD
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
2857000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3617000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2975000 USD
CY2017Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
21000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
15000 shares
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
48000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
39000 shares
CY2017Q2 us-gaap Interest And Other Income
InterestAndOtherIncome
402000 USD
us-gaap Interest And Other Income
InterestAndOtherIncome
1059000 USD
CY2018Q2 us-gaap Interest And Other Income
InterestAndOtherIncome
1223000 USD
us-gaap Interest And Other Income
InterestAndOtherIncome
3083000 USD
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171975000 USD
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164914000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
8381000 USD
us-gaap Net Income Loss
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87857000 USD
CY2017Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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10748000 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
21822000 USD
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226676000 USD
CY2017Q3 us-gaap Liabilities
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CY2018Q2 us-gaap Liabilities
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93225000 USD
CY2017Q3 us-gaap Liabilities And Stockholders Equity
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383719000 USD
CY2018Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
527609000 USD
CY2017Q3 us-gaap Liabilities Current
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26414000 USD
CY2018Q2 us-gaap Liabilities Current
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51015000 USD
CY2017Q3 us-gaap Minority Interest
MinorityInterest
140132000 USD
CY2018Q2 us-gaap Minority Interest
MinorityInterest
206471000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-50448000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-56343000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-604000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-470000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
122931000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
228696000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
6857000 USD
us-gaap Net Income Loss
NetIncomeLoss
37250000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
58303000 USD
CY2018Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
11068000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
110558000 USD
CY2017Q2 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
6832000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
37115000 USD
CY2018Q2 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
8336000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
87339000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
6832000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
37115000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
8336000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
87339000 USD
CY2017Q2 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
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10748000 USD
us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
58303000 USD
CY2018Q2 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
11068000 USD
us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
110431000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
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OperatingExpenses
33775000 USD
us-gaap Operating Expenses
OperatingExpenses
95626000 USD
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
40262000 USD
us-gaap Operating Expenses
OperatingExpenses
113230000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
21727000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
119466000 USD
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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-3000 USD
CY2017Q2 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
0 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3276000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2713000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-5000 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
12065000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
12125000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
604000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
470000 USD
CY2017Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7092000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10067000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
17605000 USD
us-gaap Profit Loss
ProfitLoss
95553000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
19449000 USD
us-gaap Profit Loss
ProfitLoss
198415000 USD
CY2017Q2 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
9238000 USD
us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
26089000 USD
CY2018Q2 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
10485000 USD
us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
31853000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
86836000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
174693000 USD
CY2017Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
54983000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
213533000 USD
CY2018Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
61801000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
338738000 USD
CY2017Q2 us-gaap Revenues
Revenues
55502000 USD
us-gaap Revenues
Revenues
215092000 USD
CY2018Q2 us-gaap Revenues
Revenues
62084000 USD
us-gaap Revenues
Revenues
339906000 USD
CY2017Q2 us-gaap Salaries And Wages
SalariesAndWages
23731000 USD
us-gaap Salaries And Wages
SalariesAndWages
68746000 USD
CY2018Q2 us-gaap Salaries And Wages
SalariesAndWages
28606000 USD
us-gaap Salaries And Wages
SalariesAndWages
82876000 USD
CY2017Q2 us-gaap Severance Costs1
SeveranceCosts1
0 USD
us-gaap Severance Costs1
SeveranceCosts1
0 USD
CY2018Q2 us-gaap Severance Costs1
SeveranceCosts1
1739000 USD
us-gaap Severance Costs1
SeveranceCosts1
1875000 USD
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1038000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3804000 USD
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2347000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6285000 USD
CY2017Q2 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
550000 USD
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
3014000 USD
CY2018Q2 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
774000 USD
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
12261000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
227913000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
289663000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
149531000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
434384000 USD
us-gaap Straight Line Rent
StraightLineRent
-197000 USD
CY2017Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
25000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
135000 USD
CY2018Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
45000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
518000 USD
CY2017Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
25000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
135000 USD
CY2018Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
45000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
518000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16058000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16044000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16135000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16111000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16037000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16029000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16087000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16072000 shares

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