2014 Q2 Form 10-Q Financial Statement

#000109565114000026 Filed on May 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $129.8M $108.7M $94.10M
YoY Change 29.95% 15.57% -6.62%
Cost Of Revenue $44.20M $46.30M $37.80M
YoY Change 19.46% 22.49% 7.69%
Gross Profit $85.70M $62.50M $56.30M
YoY Change 36.25% 11.01% -14.7%
Gross Profit Margin 66.0% 57.47% 59.83%
Selling, General & Admin $26.60M $19.80M $21.80M
YoY Change 27.27% -9.17% -4.39%
% of Gross Profit 31.04% 31.68% 38.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.80M $18.61M $17.35M
YoY Change 8.05% 7.25% 0.67%
% of Gross Profit 21.94% 29.78% 30.82%
Operating Expenses $47.30M $35.10M $55.00M
YoY Change 8.99% -36.18% -3.51%
Operating Profit $38.40M $27.40M $1.300M
YoY Change 96.92% 2007.69% -85.56%
Interest Expense $56.53M $57.46M $71.57M
YoY Change -18.26% -19.72% -16.14%
% of Operating Profit 147.21% 209.69% 5505.08%
Other Income/Expense, Net $4.690M $221.0K $5.625M
YoY Change 3112.33% -96.07% 1141.72%
Pretax Income -$20.99M -$31.18M -$58.17M
YoY Change -62.86% -46.4% 43.42%
Income Tax -$215.0K -$507.0K $4.075M
% Of Pretax Income
Net Earnings -$3.919M -$14.63M -$32.06M
YoY Change -72.18% -54.37% -30.41%
Net Earnings / Revenue -3.02% -13.45% -34.07%
Basic Earnings Per Share -$0.49
Diluted Earnings Per Share -$45.45K -$172.2K -$0.49
COMMON SHARES
Basic Shares Outstanding 84.85M shares 84.87M shares 84.82M shares
Diluted Shares Outstanding 84.82M shares

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $357.0M $410.0M $468.0M
YoY Change -50.14% -12.39% 268.5%
Cash & Equivalents $356.5M $409.6M $468.4M
Short-Term Investments
Other Short-Term Assets $10.00M
YoY Change 42.86%
Inventory $355.0M $335.0M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $712.0M $745.0M $578.0M
YoY Change -69.51% 28.89% 151.3%
LONG-TERM ASSETS
Property, Plant & Equipment $2.741B $2.714B $2.792B
YoY Change -0.62% -2.79% 66.49%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $232.1M $195.5M $394.0M
YoY Change 28.52% -50.39% -90.82%
Other Assets $211.0M $237.0M $651.0M
YoY Change -65.3% -63.59% -50.9%
Total Long-Term Assets $4.761B $4.743B $5.499B
YoY Change 31.83% -13.75% -7.12%
TOTAL ASSETS
Total Short-Term Assets $712.0M $745.0M $578.0M
Total Long-Term Assets $4.761B $4.743B $5.499B
Total Assets $5.473B $5.488B $6.077B
YoY Change -7.96% -9.7% -1.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $79.00M $61.00M $89.00M
YoY Change -8.14% -31.46% 20.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $79.00M $61.00M $89.00M
YoY Change -8.14% -31.46% 20.27%
LONG-TERM LIABILITIES
Long-Term Debt $4.083B $4.102B $4.495B
YoY Change -7.25% -8.74% -24.68%
Other Long-Term Liabilities $58.00M $52.00M $41.00M
YoY Change 48.72% 26.83% 0.0%
Total Long-Term Liabilities $4.141B $4.154B $4.536B
YoY Change -6.76% -8.42% -24.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $79.00M $61.00M $89.00M
Total Long-Term Liabilities $4.141B $4.154B $4.536B
Total Liabilities $4.219B $4.214B $4.612B
YoY Change -6.55% -8.62% -24.74%
SHAREHOLDERS EQUITY
Retained Earnings -$2.566B -$2.549B -$2.403B
YoY Change 5.58% 6.07%
Common Stock $146.0K $145.0K $144.0K
YoY Change 1.39% 0.69%
Preferred Stock
YoY Change
Treasury Stock (at cost) $263.0M $263.0M $242.0M
YoY Change 8.67% 8.67%
Treasury Stock Shares 60.62M shares 60.62M shares 58.92M shares
Shareholders Equity $1.187B $1.206B $1.383B
YoY Change
Total Liabilities & Shareholders Equity $5.473B $5.488B $6.077B
YoY Change -7.96% -9.7% -19.93%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income -$3.919M -$14.63M -$32.06M
YoY Change -72.18% -54.37% -30.41%
Depreciation, Depletion And Amortization $18.80M $18.61M $17.35M
YoY Change 8.05% 7.25% 0.67%
Cash From Operating Activities -$31.40M -$64.82M -$83.69M
YoY Change 37.72% -22.55% 61.33%
INVESTING ACTIVITIES
Capital Expenditures -$33.60M -$30.30M -$16.30M
YoY Change 7.01% 85.89% 46.85%
Acquisitions
YoY Change
Other Investing Activities $69.60M $1.023M -$143.0K
YoY Change -83.76% -815.38% 150.88%
Cash From Investing Activities $36.00M $35.46M $311.5M
YoY Change -90.94% -88.62% -204.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -57.70M -$74.61M -$15.74M
YoY Change -54.53% 374.14% -113.12%
NET CHANGE
Cash From Operating Activities -31.40M -$64.82M -$83.69M
Cash From Investing Activities 36.00M $35.46M $311.5M
Cash From Financing Activities -57.70M -$74.61M -$15.74M
Net Change In Cash -53.10M -$104.0M $212.1M
YoY Change -121.45% -149.03% -192.21%
FREE CASH FLOW
Cash From Operating Activities -$31.40M -$64.82M -$83.69M
Capital Expenditures -$33.60M -$30.30M -$16.30M
Free Cash Flow $2.200M -$34.52M -$67.39M
YoY Change -74.42% -48.78% 65.27%

Facts In Submission

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LoansReceivableAllowance
521795000 USD
CY2014Q1 star Loans Receivable Net Of Deferred Income
LoansReceivableNetOfDeferredIncome
1693100000 USD
CY2013Q4 star Loans Receivable Net Of Deferred Income
LoansReceivableNetOfDeferredIncome
1605386000 USD
CY2013Q1 star Loans Sold Loans Carrying Value
LoansSoldLoansCarryingValue
38300000 USD
CY2014Q1 star Minimum Percentage Of Taxable Income Excluding Capital Gains To Be Distributed To Qualify As Reit
MinimumPercentageOfTaxableIncomeExcludingCapitalGainsToBeDistributedToQualifyAsReit
0.9
CY2014Q1 star Net Income Loss Available To Hpu Holders And Participating Security Holders Basic
NetIncomeLossAvailableToHpuHoldersAndParticipatingSecurityHoldersBasic
889000 USD
CY2013Q1 star Net Income Loss Available To Hpu Holders And Participating Security Holders Basic
NetIncomeLossAvailableToHpuHoldersAndParticipatingSecurityHoldersBasic
1381000 USD
CY2013Q1 star Net Operating Income From Discontinued Operations
NetOperatingIncomeFromDiscontinuedOperations
1344000 USD
CY2014Q1 star Other Commitments
OtherCommitments
46382000 USD
CY2013Q1 star Payments For Contributions To Unconsolidated Entities
PaymentsForContributionsToUnconsolidatedEntities
1448000 USD
CY2014Q1 star Payments For Contributions To Unconsolidated Entities
PaymentsForContributionsToUnconsolidatedEntities
22978000 USD
CY2014Q1 star Paymentsfor Acquisitionofand Capitalize Expenditureson Real Estate Assets
PaymentsforAcquisitionofandCapitalizeExpendituresonRealEstateAssets
30314000 USD
CY2013Q1 star Paymentsfor Acquisitionofand Capitalize Expenditureson Real Estate Assets
PaymentsforAcquisitionofandCapitalizeExpendituresonRealEstateAssets
25104000 USD
CY2014Q1 star Percentage Of Capital Committed That May Be Drawn Down
PercentageOfCapitalCommittedThatMayBeDrawnDown
1
CY2014Q1 star Percentage Of Taxable Income Including Capital Gains To Be Distributed To Qualify As Reit
PercentageOfTaxableIncomeIncludingCapitalGainsToBeDistributedToQualifyAsReit
1
CY2014Q1 star Performance Based Commitments
PerformanceBasedCommitments
284774000 USD
CY2014Q1 star Portfolio Assets
PortfolioAssets
4730248000 USD
CY2013Q4 star Portfolio Assets
PortfolioAssets
4734016000 USD
CY2014Q1 star Preferred Stock Dividends Computation Of Dividends Payable For Any Partial Dividend Period Number Of Days In Month
PreferredStockDividendsComputationOfDividendsPayableForAnyPartialDividendPeriodNumberOfDaysInMonth
P30D
CY2013 star Preferred Stock Dividends Computation Of Dividends Payable For Any Partial Dividend Period Number Of Days In Month
PreferredStockDividendsComputationOfDividendsPayableForAnyPartialDividendPeriodNumberOfDaysInMonth
P30D
CY2014Q1 star Preferred Stock Dividends Computation Of Dividends Payable For Any Partial Dividend Period Number Of Days In Year
PreferredStockDividendsComputationOfDividendsPayableForAnyPartialDividendPeriodNumberOfDaysInYear
P360D
CY2013 star Preferred Stock Dividends Computation Of Dividends Payable For Any Partial Dividend Period Number Of Days In Year
PreferredStockDividendsComputationOfDividendsPayableForAnyPartialDividendPeriodNumberOfDaysInYear
P360D
CY2014Q1 star Preferred Stock Dividends Computation Of Dividends Payable For Any Partial Dividend Period Number Of Months
PreferredStockDividendsComputationOfDividendsPayableForAnyPartialDividendPeriodNumberOfMonths
P12M
CY2013 star Preferred Stock Dividends Computation Of Dividends Payable For Any Partial Dividend Period Number Of Months
PreferredStockDividendsComputationOfDividendsPayableForAnyPartialDividendPeriodNumberOfMonths
P12M
CY2014Q1 star Preferred Stock Shares Issued And Outstanding
PreferredStockSharesIssuedAndOutstanding
25800000 shares
CY2013Q4 star Preferred Stock Shares Issued And Outstanding
PreferredStockSharesIssuedAndOutstanding
25800000 shares
CY2014Q1 star Proceeds From Distributions From Unconsolidated Entities
ProceedsFromDistributionsFromUnconsolidatedEntities
19558000 USD
CY2013Q1 star Proceeds From Distributions From Unconsolidated Entities
ProceedsFromDistributionsFromUnconsolidatedEntities
13024000 USD
CY2014Q1 star Proceeds From Principal Repayments On Portfolio Of Assets
ProceedsFromPrincipalRepaymentsOnPortfolioOfAssets
102928000 USD
CY2013Q1 star Proceeds From Principal Repayments On Portfolio Of Assets
ProceedsFromPrincipalRepaymentsOnPortfolioOfAssets
193288000 USD
CY2014Q1 star Profit Loss Adjusted For Income Loss Attributable To Redeemable Noncontrolling Interest
ProfitLossAdjustedForIncomeLossAttributableToRedeemableNoncontrollingInterest
-13693000 USD
CY2013Q1 star Profit Loss Adjusted For Income Loss Attributable To Redeemable Noncontrolling Interest
ProfitLossAdjustedForIncomeLossAttributableToRedeemableNoncontrollingInterest
-31734000 USD
CY2014Q1 star Property Sold Aggregate Carrying Value
PropertySoldAggregateCarryingValue
6700000 USD
CY2014Q1 star Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisition
28041000 USD
CY2013Q1 star Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisition
16314000 USD
CY2014Q1 star Real Estate Available And Held For Sale
RealEstateAvailableAndHeldForSale
334691000 USD
CY2013Q4 star Real Estate Available And Held For Sale
RealEstateAvailableAndHeldForSale
360517000 USD
CY2014Q1 star Real Estate Investment
RealEstateInvestment
35000000000 USD
CY2014Q1 star Real Estate Investment Period
RealEstateInvestmentPeriod
P20Y
CY2013Q4 star Real Estate Investment Property Accumulated Depreciation And Amortization
RealEstateInvestmentPropertyAccumulatedDepreciationAndAmortization
424453000 USD
CY2014Q1 star Real Estate Investment Property Accumulated Depreciation And Amortization
RealEstateInvestmentPropertyAccumulatedDepreciationAndAmortization
433149000 USD
CY2013Q4 star Real Estate Investment Property Held For Use Gross
RealEstateInvestmentPropertyHeldForUseGross
3220634000 USD
CY2014Q1 star Real Estate Investment Property Held For Use Gross
RealEstateInvestmentPropertyHeldForUseGross
3147119000 USD
CY2014Q1 star Real Estate Investment Property Held For Use Net
RealEstateInvestmentPropertyHeldForUseNet
2713970000 USD
CY2013Q4 star Real Estate Investment Property Held For Use Net
RealEstateInvestmentPropertyHeldForUseNet
2796181000 USD
CY2014Q1 star Repayments And Repurchases Of Debt Discount
RepaymentsAndRepurchasesOfDebtDiscount
660000 USD
CY2013Q1 star Repayments And Repurchases Of Debt Discount
RepaymentsAndRepurchasesOfDebtDiscount
20057000 USD
CY2014Q1 star Residential Property Profit Loss
ResidentialPropertyProfitLoss
16494000 USD
CY2013Q1 star Residential Property Profit Loss
ResidentialPropertyProfitLoss
23697000 USD
CY2013Q1 star Revenue And Other Earnings
RevenueAndOtherEarnings
145838000 USD
CY2014Q1 star Revenue And Other Earnings
RevenueAndOtherEarnings
128420000 USD
CY2014Q1 star Unfunded Commitments
UnfundedCommitments
331156000 USD
CY2014Q1 star Segment Asset Impairment Charges
SegmentAssetImpairmentCharges
2979000 USD
CY2013Q1 star Segment Asset Impairment Charges
SegmentAssetImpairmentCharges
-32000 USD
CY2014Q1 star Segment Depreciation And Amortization
SegmentDepreciationAndAmortization
18613000 USD
CY2013Q1 star Segment Depreciation And Amortization
SegmentDepreciationAndAmortization
17454000 USD
CY2014Q1 star Segment Profit Loss
SegmentProfitLoss
6763000 USD
CY2013Q1 star Segment Profit Loss
SegmentProfitLoss
14193000 USD
CY2014Q1 star Stock Based Compensation Shares Withheld For Employee Taxes Upon Vesting
StockBasedCompensationSharesWithheldForEmployeeTaxesUponVesting
13456000 USD
CY2013Q1 star Stock Based Compensation Shares Withheld For Employee Taxes Upon Vesting
StockBasedCompensationSharesWithheldForEmployeeTaxesUponVesting
9894000 USD
CY2014Q1 star Treasury Stock Par Value Per Share
TreasuryStockParValuePerShare
0.001
CY2013Q4 star Treasury Stock Par Value Per Share
TreasuryStockParValuePerShare
0.001
CY2014Q1 star Unamortized Discount Premium Deferred Fees And Costs Collectively Evaluated For Impairment
UnamortizedDiscountPremiumDeferredFeesAndCostsCollectivelyEvaluatedForImpairment
-7600000 USD
CY2013Q4 star Unamortized Discount Premium Deferred Fees And Costs Collectively Evaluated For Impairment
UnamortizedDiscountPremiumDeferredFeesAndCostsCollectivelyEvaluatedForImpairment
-4600000 USD
CY2014Q1 star Unamortized Discount Premium Deferred Fees And Costs Individually Evaluated For Impairment
UnamortizedDiscountPremiumDeferredFeesAndCostsIndividuallyEvaluatedForImpairment
-200000 USD
CY2013Q4 star Unamortized Discount Premium Deferred Fees And Costs Individually Evaluated For Impairment
UnamortizedDiscountPremiumDeferredFeesAndCostsIndividuallyEvaluatedForImpairment
500000 USD
CY2014Q1 star Unamortized Discount Premium Deferred Fees And Costs Loans Acquired With Deteriorated Credit Quality
UnamortizedDiscountPremiumDeferredFeesAndCostsLoansAcquiredWithDeterioratedCreditQuality
400000 USD
CY2013Q4 star Unamortized Discount Premium Deferred Fees And Costs Loans Acquired With Deteriorated Credit Quality
UnamortizedDiscountPremiumDeferredFeesAndCostsLoansAcquiredWithDeterioratedCreditQuality
400000 USD
CY2014Q1 star Weighted Average Number Of Hpu Shares Outstanding Basic And Diluted
WeightedAverageNumberOfHpuSharesOutstandingBasicAndDiluted
15000 shares
CY2013Q1 star Weighted Average Number Of Hpu Shares Outstanding Basic And Diluted
WeightedAverageNumberOfHpuSharesOutstandingBasicAndDiluted
15000 shares
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001095651
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
84854672 shares
CY2014Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
ISTAR FINANCIAL INC
CY2014Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

Files In Submission

Name View Source Status
0001095651-14-000026-index-headers.html Edgar Link pending
0001095651-14-000026-index.html Edgar Link pending
0001095651-14-000026.txt Edgar Link pending
0001095651-14-000026-xbrl.zip Edgar Link pending
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star-20140331.xml Edgar Link completed
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