2017 Q1 Form 10-Q Financial Statement

#000144637117000044 Filed on May 11, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $3.060M $2.901M
YoY Change 5.48% -52.47%
Operating Profit -$420.0K -$193.0K
YoY Change 117.62% -85.14%
Interest Expense $575.0K $600.0K
YoY Change -4.17% -64.58%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $6.198M -$159.0K
YoY Change -3998.11%
Income Tax $19.00K -$94.00K
% Of Pretax Income 0.31%
Net Earnings $5.949M -$63.00K
YoY Change -9542.86% -102.2%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 10.94M shares 11.04M shares
Diluted Shares Outstanding 10.94M shares 11.04M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $3.030M $3.414M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.795M $6.645M
YoY Change -57.94% 50.14%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $134.7M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $82.17M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$45.38M
YoY Change
Common Stock $111.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $50.56M
YoY Change
Total Liabilities & Shareholders Equity $134.7M
YoY Change

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $5.949M -$63.00K
YoY Change -9542.86% -102.2%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $1.745M
YoY Change -353.63%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$30.53M
YoY Change -174.54%
FINANCING ACTIVITIES
Cash Dividend Paid $681.0K $688.0K
YoY Change -1.02% -7.9%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $23.40M
YoY Change -159.23%
NET CHANGE
Cash From Operating Activities $1.745M
Cash From Investing Activities -$30.53M
Cash From Financing Activities $23.40M
Net Change In Cash -$5.379M
YoY Change -813.4%
FREE CASH FLOW
Cash From Operating Activities $1.745M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
1996000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-63000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
5949000 USD
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-2000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
230000 USD
CY2017Q1 us-gaap Net Rentable Area
NetRentableArea
601000 sqft
CY2016Q4 us-gaap Notes Payable
NotesPayable
54304000 USD
CY2017Q1 us-gaap Notes Payable
NotesPayable
61734000 USD
CY2016Q4 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
54781000 USD
CY2017Q1 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
61906000 USD
CY2017Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
13
CY2017Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
5
CY2016Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
3049000 USD
CY2017Q1 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
3061000 USD
CY2016Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
945000 USD
CY2017Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
946000 USD
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
2901000 USD
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
3060000 USD
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-193000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-420000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
39066000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
4575000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
4184000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
4944000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
5384000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
5669000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
14310000 USD
CY2016Q1 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
2708000 USD
CY2017Q1 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
2640000 USD
CY2016Q4 us-gaap Other Liabilities
OtherLiabilities
461000 USD
CY2017Q1 us-gaap Other Liabilities
OtherLiabilities
585000 USD
CY2016Q1 us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
26949000 USD
CY2017Q1 us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
1437000 USD
CY2016Q1 us-gaap Payments For Leasing Costs Commissions And Tenant Improvements
PaymentsForLeasingCostsCommissionsAndTenantImprovements
42000 USD
CY2017Q1 us-gaap Payments For Leasing Costs Commissions And Tenant Improvements
PaymentsForLeasingCostsCommissionsAndTenantImprovements
383000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
202000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
203000 USD
CY2016Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
688000 USD
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
681000 USD
CY2016Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2017Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1314000 USD
CY2016Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
CY2017Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
17783000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
1070000 USD
CY2017Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
283000 USD
CY2016Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
283000 USD
CY2017Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
1998000 USD
CY2016Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
25200000 USD
CY2017Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
27400000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
9000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
18543000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-65000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
6179000 USD
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3000 USD
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
33000 USD
CY2016Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
8163000 USD
CY2017Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
8770000 USD
CY2016Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
65627000 USD
CY2017Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
82686000 USD
CY2016Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
57464000 USD
CY2017Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
73916000 USD
CY2016Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
194000 USD
CY2017Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
28050000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4728000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3867000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-50676000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-45382000 USD
CY2016Q4 us-gaap Security Deposit
SecurityDeposit
200000 USD
CY2017Q1 us-gaap Security Deposit
SecurityDeposit
300000 USD
CY2017Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
203000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
45467000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
50558000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
47233000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
52529000 USD
CY2016Q1 us-gaap Straight Line Rent
StraightLineRent
26000 USD
CY2017Q1 us-gaap Straight Line Rent
StraightLineRent
22000 USD
CY2016Q4 us-gaap Tenant Improvements
TenantImprovements
2307000 USD
CY2017Q1 us-gaap Tenant Improvements
TenantImprovements
2926000 USD
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
11037189 shares
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
10937451 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11037189 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10937451 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11037189 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10937451 shares
CY2017Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-top:8px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior period amounts have been reclassified to conform with current period&#8217;s presentation. The reclassifications had no effect on the Company&#8217;s consolidated financial condition, results of operations, or cash flows.</font></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"></font></div></div>

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