2011 Q4 Form 10-K Financial Statement

#000119312513077026 Filed on February 26, 2013

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q3 2011 Q2
Revenue $56.50M $53.40M $52.96M
YoY Change 1.25% -9.5% -6.44%
Cost Of Revenue $3.100M $2.500M $2.400M
YoY Change 29.17% -3.85% 9.09%
Gross Profit $53.30M $50.90M $50.60M
YoY Change 0.0% -9.75% -6.99%
Gross Profit Margin 94.34% 95.33% 95.55%
Selling, General & Admin $12.00M $11.20M $11.60M
YoY Change -4.76% -5.88% 7.41%
% of Gross Profit 22.51% 22.0% 22.92%
Research & Development $2.124M $1.915M
YoY Change
% of Gross Profit 4.17% 3.78%
Depreciation & Amortization $900.0K $300.0K $200.0K
YoY Change 200.0% 50.0% 0.0%
% of Gross Profit 1.69% 0.59% 0.4%
Operating Expenses $51.80M $11.51M $12.09M
YoY Change 34.2% -66.93% -67.77%
Operating Profit $1.500M $39.39M $38.51M
YoY Change -89.8% 82.38% 127.89%
Interest Expense $29.12M $24.32M $23.63M
YoY Change 1841.0% 1419.81% 46.79%
% of Operating Profit 1941.0% 61.73% 61.36%
Other Income/Expense, Net
YoY Change
Pretax Income -$2.600M $1.291M $10.34M
YoY Change -117.11% -93.73% -64.09%
Income Tax $0.00 $14.00K $14.00K
% Of Pretax Income 1.08% 0.14%
Net Earnings -$2.558M $1.297M $9.439M
YoY Change -117.4% -93.48% -67.0%
Net Earnings / Revenue -4.53% 2.43% 17.82%
Basic Earnings Per Share -$0.03 $0.01 $0.12
Diluted Earnings Per Share -$0.03 $0.01 $0.11
COMMON SHARES
Basic Shares Outstanding 78.47M shares 78.32M shares
Diluted Shares Outstanding 78.47M shares 79.48M shares

Balance Sheet

Concept 2011 Q4 2011 Q3 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.249B $133.0M $80.00M
YoY Change 2557.47% -29.63% -72.22%
Cash & Equivalents $267.2M $133.4M $79.98M
Short-Term Investments $981.8M
Other Short-Term Assets $2.000M $2.000M $1.000M
YoY Change 0.0% 0.0% 0.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $275.0M $142.0M $87.00M
YoY Change 439.22% -26.8% -70.21%
LONG-TERM ASSETS
Property, Plant & Equipment $2.048M $3.000M $3.000M
YoY Change -48.8% -25.0% -25.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.152B $1.144B $1.121B
YoY Change -4.4% -76.46% -76.8%
Other Assets $23.00M $26.00M $42.00M
YoY Change -32.35% -21.21% 16.67%
Total Long-Term Assets $5.468B $5.412B $5.078B
YoY Change 7.38% 8.94% 3.04%
TOTAL ASSETS
Total Short-Term Assets $275.0M $142.0M $87.00M
Total Long-Term Assets $5.468B $5.412B $5.078B
Total Assets $5.743B $5.554B $5.165B
YoY Change 11.66% 7.6% -1.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $16.00M $16.00M $16.00M
YoY Change -20.0% -27.27% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $428.1M $0.00 $41.00M
YoY Change 872.85%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $444.0M $36.00M $77.00M
YoY Change 428.57% -12.2% 120.0%
LONG-TERM LIABILITIES
Long-Term Debt $4.279B $4.433B $3.979B
YoY Change 9.69% 11.61% -2.36%
Other Long-Term Liabilities $128.0M $127.0M $83.00M
YoY Change 54.22% 4.1% -21.7%
Total Long-Term Liabilities $4.407B $4.560B $4.062B
YoY Change 10.62% 11.38% -2.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $444.0M $36.00M $77.00M
Total Long-Term Liabilities $4.407B $4.560B $4.062B
Total Liabilities $4.851B $4.595B $4.138B
YoY Change 19.24% 11.12% -2.14%
SHAREHOLDERS EQUITY
Retained Earnings $501.3M
YoY Change
Common Stock $1.699B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $892.6M $959.0M $1.025B
YoY Change
Total Liabilities & Shareholders Equity $5.743B $5.554B $5.165B
YoY Change 11.65% 7.59% -1.05%

Cashflow Statement

Concept 2011 Q4 2011 Q3 2011 Q2
OPERATING ACTIVITIES
Net Income -$2.558M $1.297M $9.439M
YoY Change -117.4% -93.48% -67.0%
Depreciation, Depletion And Amortization $900.0K $300.0K $200.0K
YoY Change 200.0% 50.0% 0.0%
Cash From Operating Activities $2.300M -$17.50M $15.80M
YoY Change -94.64% -265.09% -118.54%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$107.7M -$314.9M -$59.00M
YoY Change 35.64% -681.0% -200.34%
Cash From Investing Activities -$107.7M -$314.9M -$59.00M
YoY Change 35.64% -681.0% -200.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 239.1M 385.8M -97.10M
YoY Change -325.99% -335.24% -232.83%
NET CHANGE
Cash From Operating Activities 2.300M -17.50M 15.80M
Cash From Investing Activities -107.7M -314.9M -59.00M
Cash From Financing Activities 239.1M 385.8M -97.10M
Net Change In Cash 133.7M 53.40M -140.3M
YoY Change -193.96% -153.83% -400.43%
FREE CASH FLOW
Cash From Operating Activities $2.300M -$17.50M $15.80M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2012Q4 rwt Available For Sale Securities Principal Balance
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8774000
CY2012Q4 rwt Number Of Securities Continuous Unrealized Loss Position More Than Twelve Months
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CY2010 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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3335000
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CY2010 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2010 us-gaap Profit Loss
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CY2010 us-gaap Net Cash Provided By Used In Investing Activities
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CY2010 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2010 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2010 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
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9887000
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CY2010 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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6651000
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CY2011 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2011 us-gaap Comprehensive Income Net Of Tax
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CY2011 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
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CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2011 us-gaap Profit Loss
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CY2011 us-gaap Provision For Loan Lease And Other Losses
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CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
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CY2011 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Writedown Of Securities Included In Net Income Net Of Tax
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5048000
CY2011 us-gaap General And Administrative Expense
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CY2011 us-gaap Interest And Dividend Income Operating
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CY2012 rwt Operating Loss Carryforwards Expiration Year
OperatingLossCarryforwardsExpirationYear
2029
CY2011Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
32361000
CY2011Q1 us-gaap Net Income Loss
NetIncomeLoss
18165000
CY2011Q1 us-gaap Interest Expense
InterestExpense
21972000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2011Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2011Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
52955000
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2012 rwt Employee Stock Purchase Plan Minimum Percentage Of Common Stock Fair Value Defined To Purchase Shares By Eligible Participants
EmployeeStockPurchasePlanMinimumPercentageOfCommonStockFairValueDefinedToPurchaseSharesByEligibleParticipants
0.85 pure
CY2012 rwt Prohibited Transaction Tax Rate
ProhibitedTransactionTaxRate
1.00 pure
CY2012 rwt Other Market Valuation Adjustments Net
OtherMarketValuationAdjustmentsNet
-10163000
CY2012 rwt Net Interest Income Loss After Provision And Other Market Valuation Adjustments
NetInterestIncomeLossAfterProvisionAndOtherMarketValuationAdjustments
96779000
CY2011Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
CY2012 rwt Mortgage Banking Activities Market Valuation Adjustments Net
MortgageBankingActivitiesMarketValuationAdjustmentsNet
25139000
CY2012 rwt Other Market Valuation Adjustments
OtherMarketValuationAdjustments
-7654000
CY2012 rwt Mortgage Banking Activities Net
MortgageBankingActivitiesNet
46630000
CY2012 rwt Mortgage Banking Activities Derivative Instruments Net
MortgageBankingActivitiesDerivativeInstrumentsNet
-10609000
CY2012 rwt Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost Forfeitures
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCostForfeitures
1771000
CY2012 rwt Employee Stock Purchase Plan Number Of Shares Purchased By Employee
EmployeeStockPurchasePlanNumberOfSharesPurchasedByEmployee
207031 shares
CY2012 rwt Payments For Proceeds From Derivative Instrument Operating Activities
PaymentsForProceedsFromDerivativeInstrumentOperatingActivities
-22653000
CY2012 rwt Principal Amount Of Loans Securitized During Period
PrincipalAmountOfLoansSecuritizedDuringPeriod
1970000000
CY2012 rwt Proceeds From Principal Repayments On Securities
ProceedsFromPrincipalRepaymentsOnSecurities
218447000
CY2012 rwt Share Based Compensation Arrangement By Share Based Payment Award Award Holding Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardHoldingPeriod
P3Y
CY2012 rwt Proceeds From Sale Of Loans Held With Intent To Sell
ProceedsFromSaleOfLoansHeldWithIntentToSell
1809553000
CY2011Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2011Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
54333000
CY2011Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
9439000
CY2011Q2 us-gaap Interest Expense
InterestExpense
23633000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.37
CY2012Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2012Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
58740000
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
CY2012Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
28085000
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
30463000
CY2012Q1 us-gaap Interest Expense
InterestExpense
30655000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
CY2012Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2012Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
59523000
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
CY2012Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
30642000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
19527000
CY2012Q2 us-gaap Interest Expense
InterestExpense
28881000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2011Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2011Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
53396000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2011Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
29079000
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
1297000
CY2011Q3 us-gaap Interest Expense
InterestExpense
24317000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.48
CY2012Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2012Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
59723000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.48
CY2012Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
31438000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
39701000
CY2012Q3 us-gaap Interest Expense
InterestExpense
28285000
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
CY2011Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2011Q4 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
56495000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2011Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
27380000
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
-2558000
CY2011Q4 us-gaap Interest Expense
InterestExpense
29115000
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
CY2012Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2012Q4 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
53397000
CY2012Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.50
CY2012Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
20426000
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
42078000
CY2012Q4 us-gaap Interest Expense
InterestExpense
32971000

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