2014 Q1 Form 10-K Financial Statement

#000119312514114449 Filed on March 25, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 2012 Q4
Revenue $25.01M $89.37M $20.43M
YoY Change 23.88% 2.33% 4.85%
Cost Of Revenue $9.020M $31.80M $7.420M
YoY Change 22.89% 1.27% -0.13%
Gross Profit $15.99M $57.60M $13.01M
YoY Change 24.53% 3.04% 7.79%
Gross Profit Margin 63.93% 64.45% 63.67%
Selling, General & Admin $10.79M $38.10M $8.910M
YoY Change 21.1% 2.7% 2.3%
% of Gross Profit 67.48% 66.15% 68.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.430M $8.470M $2.130M
YoY Change 18.54% -2.19% -4.91%
% of Gross Profit 15.2% 14.7% 16.37%
Operating Expenses $22.25M $78.97M $18.33M
YoY Change 21.54% 2.31% 67.4%
Operating Profit $2.761M $10.41M $2.104M
YoY Change 46.61% 2.42% 87.83%
Interest Expense $2.883M $9.606M $2.100M
YoY Change 7.57% -7.63% -149.53%
% of Operating Profit 104.43% 92.3% 99.83%
Other Income/Expense, Net
YoY Change
Pretax Income $267.0K -$2.977M $1.970M
YoY Change -108.63% -28.48% -160.43%
Income Tax -$735.3K $1.496M $160.0K
% Of Pretax Income -275.41% 8.12%
Net Earnings $783.0K -$3.484M $1.400M
YoY Change -130.17% -16.41% -154.69%
Net Earnings / Revenue 3.13% -3.9% 6.85%
Basic Earnings Per Share $0.15
Diluted Earnings Per Share $76.25K -$343.1K $0.14
COMMON SHARES
Basic Shares Outstanding 10.24M shares 10.16M
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q1 2013 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.00M $9.400M $7.200M
YoY Change 80.56% 30.56% 63.64%
Cash & Equivalents $13.01M $9.400M $7.176M
Short-Term Investments
Other Short-Term Assets $3.500M $2.300M $1.700M
YoY Change 45.83% 35.29% -10.53%
Inventory
Prepaid Expenses
Receivables $3.400M $2.000M $1.500M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $19.90M $13.70M $10.40M
YoY Change 67.23% 31.73% 30.0%
LONG-TERM ASSETS
Property, Plant & Equipment $262.2M $202.6M $176.4M
YoY Change 49.4% 14.85% -2.81%
Goodwill
YoY Change
Intangibles $180.1K $480.4K
YoY Change
Long-Term Investments $2.100M $2.400M $8.600M
YoY Change -76.92% -72.09% -4.44%
Other Assets $12.40M $9.200M $8.100M
YoY Change 61.04% 13.58% -19.0%
Total Long-Term Assets $276.9M $214.5M $193.6M
YoY Change 43.62% 10.8% -3.81%
TOTAL ASSETS
Total Short-Term Assets $19.90M $13.70M $10.40M
Total Long-Term Assets $276.9M $214.5M $193.6M
Total Assets $296.8M $228.2M $204.0M
YoY Change 45.0% 11.86% -2.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.700M $8.100M $6.800M
YoY Change 14.12% 19.12% -8.11%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $19.00M $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.90M $9.400M $7.800M
YoY Change 212.12% 20.51% -3.7%
LONG-TERM LIABILITIES
Long-Term Debt $234.2M $188.0M $153.9M
YoY Change 52.77% 22.16% -0.26%
Other Long-Term Liabilities $5.000M
YoY Change 72.41%
Total Long-Term Liabilities $234.2M $188.0M $158.9M
YoY Change 45.47% 18.31% 1.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.90M $9.400M $7.800M
Total Long-Term Liabilities $234.2M $188.0M $158.9M
Total Liabilities $265.0M $203.0M $166.7M
YoY Change 49.38% 16.6% -4.42%
SHAREHOLDERS EQUITY
Retained Earnings -$31.89M -$27.18M
YoY Change
Common Stock $102.4K $100.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $25.98M $25.20M $29.94M
YoY Change
Total Liabilities & Shareholders Equity $296.8M $228.2M $204.0M
YoY Change 45.0% 11.86% -2.52%

Cashflow Statement

Concept 2014 Q1 2013 2012 Q4
OPERATING ACTIVITIES
Net Income $783.0K -$3.484M $1.400M
YoY Change -130.17% -16.41% -154.69%
Depreciation, Depletion And Amortization $2.430M $8.470M $2.130M
YoY Change 18.54% -2.19% -4.91%
Cash From Operating Activities $3.614M $9.595M $720.0K
YoY Change 73.79% 6.47% 414.29%
INVESTING ACTIVITIES
Capital Expenditures $61.11M $30.73M -$390.0K
YoY Change -5655.1% -1155.87% -78.33%
Acquisitions
YoY Change
Other Investing Activities $1.060M $6.100M -$160.0K
YoY Change 430.0% -2540.0% -245.45%
Cash From Investing Activities -$61.37M -$29.53M -$560.0K
YoY Change 6734.8% 835.57% -66.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 61.39M 22.13M -1.470M
YoY Change -5565.5% -816.28% -362.5%
NET CHANGE
Cash From Operating Activities 3.614M 9.595M 720.0K
Cash From Investing Activities -61.37M -29.53M -560.0K
Cash From Financing Activities 61.39M 22.13M -1.470M
Net Change In Cash 3.631M 2.201M -1.310M
YoY Change 6124.88% -20.42% 32.32%
FREE CASH FLOW
Cash From Operating Activities $3.614M $9.595M $720.0K
Capital Expenditures $61.11M $30.73M -$390.0K
Free Cash Flow -$57.49M -$21.13M $1.110M
YoY Change -1908.21% -277.25% -42.78%

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CY2013 dei Entity Registrant Name
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Sotherly Hotels Inc.
CY2013 dei Entity Current Reporting Status
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CY2013 dei Entity Filer Category
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CY2013 dei Document Type
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10-K
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2004-08-20
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CY2012 us-gaap Paid In Kind Interest
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CY2012 us-gaap Other Cost And Expense Operating
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32919610
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1412467
CY2012 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
500000
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RealEstateAccumulatedDepreciationRealEstateSold
127000
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64297743
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
110400
CY2012 us-gaap Depreciation And Amortization
DepreciationAndAmortization
8661769
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2765757
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2461
CY2012 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
5500000
CY2012 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
54865
CY2012 us-gaap Interest Expense
InterestExpense
12382146
CY2012 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
278594
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1369004
CY2012 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
36180
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1136334
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3156121
CY2012 us-gaap Real Estate Improvements
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1807000
CY2012 us-gaap Food And Beverage Cost Of Sales
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14284057
CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
276133
CY2012 us-gaap Other Direct Costs Of Hotels
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1971796
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16613769
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CurrentIncomeTaxExpenseBenefit
-111238
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172745
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-113699
CY2012 us-gaap Operating Expenses
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CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1301229
CY2012 soho Business Acquisition Pro Forma Weighted Average Number Of Common Shares Outstanding Diluted
BusinessAcquisitionProFormaWeightedAverageNumberOfCommonSharesOutstandingDiluted
10647246 shares
CY2012 soho Business Acquisitions Pro Forma Operating Expenses
BusinessAcquisitionsProFormaOperatingExpenses
87437739
CY2012 soho Business Acquisitions Pro Forma Operating Income
BusinessAcquisitionsProFormaOperatingIncome
12081417
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43500
CY2012 soho Business Acquisition Pro Forma Weighted Average Number Of Common Shares Outstanding Basic
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9995638 shares
CY2012 soho Impairment Of Note Receivable
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110871
CY2012 soho Funding Of Restricted Cash Reserves
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1983383
CY2012 soho Proceeds Of Restricted Cash Reserves
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1215972
CY2012 soho Realized And Unrealized Income Loss On Warrant Derivative
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CY2013Q4 us-gaap Business Combination Separately Recognized Transactions Revenues And Gains Recognized
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1400000
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