2013 Q2 Form 10-Q Financial Statement

#000119312513320820 Filed on August 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q4 2012 Q2
Revenue $324.3M $293.8M $229.1M
YoY Change 41.53% 59.85% 33.96%
Cost Of Revenue $103.7M $89.40M $66.21M
YoY Change 56.67% 77.73% 32.13%
Gross Profit $220.6M $204.4M $162.9M
YoY Change 35.37% 52.99% 34.72%
Gross Profit Margin 68.02% 69.56% 71.11%
Selling, General & Admin $21.51M $19.60M $17.74M
YoY Change 21.21% 24.05% 12.87%
% of Gross Profit 9.75% 9.59% 10.89%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $69.50M $131.4M $52.70M
YoY Change 31.88% 65.49% 20.87%
% of Gross Profit 31.51% 64.29% 32.34%
Operating Expenses $21.51M $151.0M $17.74M
YoY Change 21.21% 58.61% 12.87%
Operating Profit $49.53M $31.05M $34.74M
YoY Change 42.59% -2.91% 27.67%
Interest Expense -$78.50M -$80.20M $43.90M
YoY Change -278.81% 79.82% 13.95%
% of Operating Profit -158.48% -258.31% 126.38%
Other Income/Expense, Net -$83.56M $400.0K -$87.12M
YoY Change -4.09% -102.47% 54.42%
Pretax Income -$34.02M -$50.70M -$52.38M
YoY Change -35.05% 76.04% 79.34%
Income Tax $1.875M $1.800M $2.453M
% Of Pretax Income
Net Earnings -$35.90M -$52.49M -$53.47M
YoY Change -32.86% 80.49% 79.32%
Net Earnings / Revenue -11.07% -17.86% -23.34%
Basic Earnings Per Share
Diluted Earnings Per Share -$281.1K -$414.4K -$441.1K
COMMON SHARES
Basic Shares Outstanding 127.6M shares 126.4M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q2 2012 Q4 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $194.8M $238.6M $91.80M
YoY Change 112.2% 349.34% -67.28%
Cash & Equivalents $189.4M $233.1M $86.74M
Short-Term Investments $5.400M $5.500M $5.000M
Other Short-Term Assets $73.80M $87.50M $167.1M
YoY Change -55.83% 139.73% 332.9%
Inventory
Prepaid Expenses $37.44M $39.54M $25.15M
Receivables $47.78M $39.10M $26.25M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $352.1M $368.6M $303.2M
YoY Change 16.14% 184.92% -14.07%
LONG-TERM ASSETS
Property, Plant & Equipment $2.570B $2.671B $2.067B
YoY Change 24.37% 68.71% 33.01%
Goodwill
YoY Change
Intangibles $3.088B $3.134B $2.121B
YoY Change 45.58% 91.13%
Long-Term Investments
YoY Change
Other Assets $393.9M $355.3M $261.8M
YoY Change 50.48% 67.74% 11.49%
Total Long-Term Assets $6.132B $6.227B $6.292B
YoY Change -2.54% 79.09% 88.39%
TOTAL ASSETS
Total Short-Term Assets $352.1M $368.6M $303.2M
Total Long-Term Assets $6.132B $6.227B $6.292B
Total Assets $6.485B $6.596B $6.596B
YoY Change -1.68% 82.89% 78.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.10M $27.69M $16.83M
YoY Change 43.18% 117.12% 8.6%
Accrued Expenses $39.98M $42.05M $31.47M
YoY Change 27.03% 77.09% -40.51%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $10.00M $475.4M $918.0M
YoY Change -98.91% 9407.02% 18260.12%
Total Short-Term Liabilities $212.9M $863.7M $1.051B
YoY Change -79.74% 580.71% 713.34%
LONG-TERM LIABILITIES
Long-Term Debt $5.631B $4.881B $3.091B
YoY Change 82.16% 45.72% -6.87%
Other Long-Term Liabilities $204.7M $186.5M $159.2M
YoY Change 28.57% 44.24% 33.55%
Total Long-Term Liabilities $5.836B $5.067B $3.251B
YoY Change 79.53% 45.66% -5.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $212.9M $863.7M $1.051B
Total Long-Term Liabilities $5.836B $5.067B $3.251B
Total Liabilities $6.049B $5.931B $4.301B
YoY Change 40.62% 64.49% 20.15%
SHAREHOLDERS EQUITY
Retained Earnings -$2.520B -$2.462B -$2.357B
YoY Change 6.92% 7.94%
Common Stock $1.278M $1.269M $1.215M
YoY Change 5.19% 15.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $435.7M $653.0M $480.2M
YoY Change
Total Liabilities & Shareholders Equity $6.485B $6.596B $4.794B
YoY Change 35.27% 82.89% 29.8%

Cashflow Statement

Concept 2013 Q2 2012 Q4 2012 Q2
OPERATING ACTIVITIES
Net Income -$35.90M -$52.49M -$53.47M
YoY Change -32.86% 80.49% 79.32%
Depreciation, Depletion And Amortization $69.50M $131.4M $52.70M
YoY Change 31.88% 65.49% 20.87%
Cash From Operating Activities $134.0M $103.3M $84.10M
YoY Change 59.33% 64.75% 20.66%
INVESTING ACTIVITIES
Capital Expenditures -$33.80M -$38.80M -$23.40M
YoY Change 44.44% 28.48% -34.08%
Acquisitions $47.18M $900.2M
YoY Change -94.76% 1088.49%
Other Investing Activities -$47.00M -$1.271B -$901.6M
YoY Change -94.79% 645.51% 1083.2%
Cash From Investing Activities -$80.70M -$1.310B -$925.0M
YoY Change -91.28% 552.99% 726.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.20M -2.700M 402.1M
YoY Change -96.22% -145.76% 78.95%
NET CHANGE
Cash From Operating Activities 134.0M 103.3M 84.10M
Cash From Investing Activities -80.70M -1.310B -925.0M
Cash From Financing Activities 15.20M -2.700M 402.1M
Net Change In Cash 68.50M -1.209B -438.8M
YoY Change -115.61% 816.14% -340.44%
FREE CASH FLOW
Cash From Operating Activities $134.0M $103.3M $84.10M
Capital Expenditures -$33.80M -$38.80M -$23.40M
Free Cash Flow $167.8M $142.1M $107.5M
YoY Change 56.09% 52.96% 2.19%

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CY2013Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-54417000
CY2013Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
CY2013Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
47177000
CY2013Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
547000
CY2013Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
697000
CY2013Q2 us-gaap Profit Loss
ProfitLoss
-35899000
CY2013Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-5618000
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
49534000
CY2013Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-35899000
CY2013Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
1400000
CY2013Q2 us-gaap Property Plant And Equipment Transfers And Changes
PropertyPlantAndEquipmentTransfersAndChanges
54000000
CY2013Q2 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
141089000
CY2013Q2 us-gaap Operating Leases Income Statement Initial Direct Costs
OperatingLeasesIncomeStatementInitialDirectCosts
67784000
CY2013Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1957000
CY2013Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3923000
CY2013Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
71600000
CY2013Q2 us-gaap Depreciation
Depreciation
69500000
CY2013Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
21507000
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1875000
CY2013Q2 sbac Cost Of Site Development
CostOfSiteDevelopment
35941000
CY2013Q2 sbac Site Development
SiteDevelopment
44804000
CY2013Q2 sbac Earnouts
Earnouts
910000
CY2013Q2 sbac Capital Expenditures
CapitalExpenditures
81210000
CY2013Q2 sbac Number Of Additional Communication Sites
NumberOfAdditionalCommunicationSites
6 site
CY2013Q2 sbac Disposal Group Including Discontinued Operation Lease Revenue
DisposalGroupIncludingDiscontinuedOperationLeaseRevenue
CY2013Q2 sbac Ground Lease Land Purchases
GroundLeaseLandPurchases
11156000
CY2013Q2 sbac Number Of Towers Acquired
NumberOfTowersAcquired
44 Tower
CY2013Q2 sbac Towers And Related Intangible Assets Acquisitions
TowersAndRelatedIntangibleAssetsAcquisitions
35111000
CY2013Q2 sbac Cash Interest Expense
CashInterestExpense
63117000
CY2013Q2 sbac Ground Lease Extensions
GroundLeaseExtensions
3100000
CY2013Q2 sbac Asset Impairment And Decommission Costs
AssetImpairmentAndDecommissionCosts
6493000
CY2013Q2 sbac Noncash Interest Expense
NoncashInterestExpense
12144000

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