$SOHO
Sotherly Hotels Inc.

2013 Q4 Form 10-Q Financial Statement

#000119312513432124 Filed on November 07, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $22.48M $21.46M $21.77M
YoY Change 9.99% -1.44% 8.75%
Cost Of Revenue $8.270M $7.780M $7.960M
YoY Change 11.46% -2.26% 6.13%
Gross Profit $14.20M $13.68M $13.81M
YoY Change 9.15% -0.94% 10.39%
Gross Profit Margin 63.18% 63.75% 63.43%
Selling, General & Admin $10.02M $9.300M $9.460M
YoY Change 12.46% -1.69% -0.42%
% of Gross Profit 70.56% 67.98% 68.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.350M $2.040M $2.150M
YoY Change 10.33% -5.12% -1.83%
% of Gross Profit 16.55% 14.91% 15.57%
Operating Expenses $21.25M $19.12M $19.58M
YoY Change 15.94% -2.32% 67.47%
Operating Profit $1.224M $2.335M $2.193M
YoY Change -41.84% 6.46% 167.5%
Interest Expense $140.0K $3.899M -$4.260M
YoY Change -93.33% -191.53% 78.99%
% of Operating Profit 11.44% 166.98% -194.21%
Other Income/Expense, Net
YoY Change
Pretax Income -$670.0K -$2.024M -$2.070M
YoY Change -134.01% -2.23% 31.85%
Income Tax $30.00K $93.96K $30.00K
% Of Pretax Income
Net Earnings -$550.0K -$1.650M -$1.620M
YoY Change -139.29% 1.83% 44.64%
Net Earnings / Revenue -2.45% -7.69% -7.44%
Basic Earnings Per Share -$0.05 -$0.16 -$0.16
Diluted Earnings Per Share -$0.05 -$0.16 -$0.16
COMMON SHARES
Basic Shares Outstanding 10.21M shares 10.18M shares 10.00M shares
Diluted Shares Outstanding 11.20M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.400M $23.80M $8.500M
YoY Change 30.56% 180.0% 57.41%
Cash & Equivalents $9.377M $23.79M $8.475M
Short-Term Investments
Other Short-Term Assets $2.300M $2.000M $2.100M
YoY Change 35.29% -4.76% 10.53%
Inventory
Prepaid Expenses
Receivables $2.000M $2.000M $2.500M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $13.70M $27.80M $13.10M
YoY Change 31.73% 112.21% 33.67%
LONG-TERM ASSETS
Property, Plant & Equipment $202.6M $174.0M $177.4M
YoY Change 14.85% -1.92% -2.53%
Goodwill
YoY Change
Intangibles $240.2K $300.2K
YoY Change -50.0%
Long-Term Investments $2.400M $8.300M $8.700M
YoY Change -72.09% -4.6% -4.4%
Other Assets $9.200M $10.00M $8.200M
YoY Change 13.58% 21.95% -23.36%
Total Long-Term Assets $214.5M $192.6M $194.9M
YoY Change 10.76% -1.17% -3.9%
TOTAL ASSETS
Total Short-Term Assets $13.70M $27.80M $13.10M
Total Long-Term Assets $214.5M $192.6M $194.9M
Total Assets $228.2M $220.4M $208.0M
YoY Change 11.83% 5.98% -2.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.100M $7.700M $8.500M
YoY Change 19.12% -9.41%
Accrued Expenses
YoY Change
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 $9.400M $9.100M $9.900M
YoY Change 20.51% -8.08% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $188.0M $171.0M $154.9M
YoY Change 22.16% 10.39% 0.72%
Other Long-Term Liabilities $8.000M $7.300M
YoY Change 9.59% 421.43%
Total Long-Term Liabilities $188.0M $179.0M $162.2M
YoY Change 18.31% 10.36% 4.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.400M $9.100M $9.900M
Total Long-Term Liabilities $188.0M $179.0M $162.2M
Total Liabilities $197.3M $188.2M $179.3M
YoY Change 18.37% 4.94% 2.11%
SHAREHOLDERS EQUITY
Retained Earnings -$32.45M -$31.23M
YoY Change 19.39%
Common Stock $102.1K $102.1K
YoY Change 2.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $25.19M $26.37M $28.80M
YoY Change
Total Liabilities & Shareholders Equity $228.2M $220.4M $208.0M
YoY Change 11.83% 5.98% -2.16%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$550.0K -$1.650M -$1.620M
YoY Change -139.29% 1.83% 44.64%
Depreciation, Depletion And Amortization $2.350M $2.040M $2.150M
YoY Change 10.33% -5.12% -1.83%
Cash From Operating Activities $1.590M $1.030M $3.290M
YoY Change 120.83% -68.69% 30.56%
INVESTING ACTIVITIES
Capital Expenditures -$31.38M -$1.080M -$360.0K
YoY Change 7946.15% 200.0% -62.5%
Acquisitions
YoY Change
Other Investing Activities $5.800M -$290.0K -$250.0K
YoY Change -3725.0% 16.0% 66.67%
Cash From Investing Activities -$25.58M -$1.370M -$600.0K
YoY Change 4467.86% 128.33% -45.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.560M 17.58M -1.180M
YoY Change -750.34% -1589.83% 247.06%
NET CHANGE
Cash From Operating Activities 1.590M 1.030M 3.290M
Cash From Investing Activities -25.58M -1.370M -600.0K
Cash From Financing Activities 9.560M 17.58M -1.180M
Net Change In Cash -14.43M 17.24M 1.510M
YoY Change 1001.53% 1041.72% 41.12%
FREE CASH FLOW
Cash From Operating Activities $1.590M $1.030M $3.290M
Capital Expenditures -$31.38M -$1.080M -$360.0K
Free Cash Flow $32.97M $2.110M $3.650M
YoY Change 2870.27% -42.19% 4.89%

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dei Amendment Flag
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dei Entity Filer Category
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Smaller Reporting Company
dei Document Fiscal Year Focus
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2013
dei Document Type
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10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Entity Incorporation Date Of Incorporation
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2004-08-20
dei Entity Central Index Key
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0001301236
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dei Document Fiscal Period Focus
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us-gaap Concentration Risk Credit Risk
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<div> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <i>Concentration of Credit Risk &#x2013;</i> We hold cash accounts at several institutions in excess of the Federal Deposit Insurance Corporation (the &#x201C;FDIC&#x201D;) protection limits of $250,000. Our exposure to credit loss in the event of the failure of these institutions is represented by the difference between the FDIC protection limit and the total amounts on deposit. Management monitors, on a regular basis, the financial condition of the financial institutions along with the balances there on deposit to minimize the Company&#x2019;s potential risk.</p> </div>
us-gaap Prior Period Reclassification Adjustment Description
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<div> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 8%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <i>Reclassifications</i> &#x2013; Certain reclassifications have been made to the prior period balances to conform to the current period presentation.</p> </div>
us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
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