$SOHO
Sotherly Hotels Inc.

2016 Q4 Form 10-Q Financial Statement

#000156459016029207 Filed on November 14, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q4
Revenue $35.94M $37.28M $36.75M
YoY Change -2.22% 9.82% 23.22%
Cost Of Revenue $13.64M $13.70M $13.71M
YoY Change -0.51% 7.79% 17.78%
Gross Profit $22.29M $23.58M $23.04M
YoY Change -3.26% 11.07% 26.66%
Gross Profit Margin 62.03% 63.26% 62.69%
Selling, General & Admin $15.59M $15.86M $16.15M
YoY Change -3.47% 1.15% 28.58%
% of Gross Profit 69.94% 67.26% 70.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.760M $3.790M $4.010M
YoY Change -6.23% 12.46% 30.62%
% of Gross Profit 16.87% 16.07% 17.4%
Operating Expenses $33.03M $33.54M $34.13M
YoY Change -3.22% 4.89% 12.11%
Operating Profit $2.908M $3.735M $2.623M
YoY Change 10.87% 90.02% -525.63%
Interest Expense -$3.780M -$4.580M -$4.680M
YoY Change -19.23% -207.87% 24.14%
% of Operating Profit -129.97% -122.61% -178.4%
Other Income/Expense, Net
YoY Change
Pretax Income -$1.130M -$1.930M -$2.050M
YoY Change -44.88% -146.81% -59.41%
Income Tax -$1.060M -$390.0K -$1.340M
% Of Pretax Income
Net Earnings -$74.08K -$1.549M -$712.0K
YoY Change -89.59% -133.41% -83.1%
Net Earnings / Revenue -0.21% -4.16% -1.94%
Basic Earnings Per Share
Diluted Earnings Per Share $4.027K -$92.31K -$35.84K
COMMON SHARES
Basic Shares Outstanding 14.95M 14.95M
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.80M $26.40M $11.50M
YoY Change 176.52% 70.32% -30.72%
Cash & Equivalents $36.36M $26.43M $11.49M
Short-Term Investments
Other Short-Term Assets $4.600M $4.900M $4.400M
YoY Change 4.55% 0.0% 33.33%
Inventory
Prepaid Expenses
Receivables $4.100M $4.700M $4.300M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $40.50M $36.00M $20.20M
YoY Change 100.5% 41.73% -8.18%
LONG-TERM ASSETS
Property, Plant & Equipment $348.6M $354.1M $355.0M
YoY Change -1.8% -0.23% 36.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.300M
YoY Change
Other Assets $11.50M $11.70M $11.20M
YoY Change 2.68% -20.41% -28.21%
Total Long-Term Assets $365.5M $366.0M $372.9M
YoY Change -1.97% -0.99% 34.21%
TOTAL ASSETS
Total Short-Term Assets $40.50M $36.00M $20.20M
Total Long-Term Assets $365.5M $366.0M $372.9M
Total Assets $406.0M $402.0M $393.1M
YoY Change 3.3% 1.76% 31.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.00M $15.60M $12.30M
YoY Change 5.69% 6.85% 2.5%
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 $17.70M $20.00M $15.30M
YoY Change 15.69% 9.89% 8.51%
LONG-TERM LIABILITIES
Long-Term Debt $307.0M $295.1M $320.8M
YoY Change -4.3% -8.35% 24.24%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $307.0M $295.1M $320.8M
YoY Change -4.3% -8.35% 24.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.70M $20.00M $15.30M
Total Long-Term Liabilities $307.0M $295.1M $320.8M
Total Liabilities $324.7M $317.6M $340.2M
YoY Change -4.56% -6.63% 24.93%
SHAREHOLDERS EQUITY
Retained Earnings -$39.55M -$33.89M
YoY Change 16.69% -4.23%
Common Stock $118.5M $82.89M
YoY Change 43.0% 41.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $79.01M $84.30M $49.00M
YoY Change
Total Liabilities & Shareholders Equity $406.0M $402.0M $393.1M
YoY Change 3.3% 1.76% 31.1%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q4
OPERATING ACTIVITIES
Net Income -$74.08K -$1.549M -$712.0K
YoY Change -89.59% -133.41% -83.1%
Depreciation, Depletion And Amortization $3.760M $3.790M $4.010M
YoY Change -6.23% 12.46% 30.62%
Cash From Operating Activities $2.670M $1.820M $2.050M
YoY Change 30.24% -4650.0% -205.67%
INVESTING ACTIVITIES
Capital Expenditures -$3.690M -$2.390M -$4.440M
YoY Change -16.89% -92.17% -2.2%
Acquisitions
YoY Change
Other Investing Activities -$2.340M $1.280M -$480.0K
YoY Change 387.5% -69.16% 585.71%
Cash From Investing Activities -$6.020M -$1.130M -$4.920M
YoY Change 22.36% -95.71% 6.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.500M -350.0K -1.100M
YoY Change -781.82% -101.42% -117.57%
NET CHANGE
Cash From Operating Activities 2.670M 1.820M 2.050M
Cash From Investing Activities -6.020M -1.130M -4.920M
Cash From Financing Activities 7.500M -350.0K -1.100M
Net Change In Cash 4.150M 340.0K -3.970M
YoY Change -204.53% -118.68% 1268.97%
FREE CASH FLOW
Cash From Operating Activities $2.670M $1.820M $2.050M
Capital Expenditures -$3.690M -$2.390M -$4.440M
Free Cash Flow $6.360M $4.210M $6.490M
YoY Change -2.0% -86.19% 149.62%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Entity Registrant Name
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SOTHERLY HOTELS INC.
dei Entity Central Index Key
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dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
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us-gaap Prior Period Reclassification Adjustment Description
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UnAmortizedFranchiseFees
399694
CY2015Q4 soho Un Amortized Franchise Fees
UnAmortizedFranchiseFees
339542
CY2016Q3 soho Amortization Expense Franchise License Fees
AmortizationExpenseFranchiseLicenseFees
15331
CY2015Q3 soho Amortization Expense Franchise License Fees
AmortizationExpenseFranchiseLicenseFees
40572
soho Amortization Expense Franchise License Fees
AmortizationExpenseFranchiseLicenseFees
45593
soho Amortization Expense Franchise License Fees
AmortizationExpenseFranchiseLicenseFees
68972
CY2016Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
400000
CY2015Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
500000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
1300000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
1400000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
361177
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
938414
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
427180
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
310505
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
270774
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
1252315
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
3560365
CY2016Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2016Q3 us-gaap Advertising Expense
AdvertisingExpense
138017
CY2016Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
444717443
CY2015Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
435875967
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
19171472
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
47593166
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
20725439
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
133243444
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
63004
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
225967
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
176740
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
100480
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
95482
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
541065
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1202738
CY2016Q3 soho Real Estate Investment Property Accumulated Depreciation And Impairment
RealEstateInvestmentPropertyAccumulatedDepreciationAndImpairment
90579671
CY2015Q4 soho Real Estate Investment Property Accumulated Depreciation And Impairment
RealEstateInvestmentPropertyAccumulatedDepreciationAndImpairment
80912725
CY2016Q3 us-gaap Mortgage Loans On Real Estate Carrying Amount Of Mortgages
MortgageLoansOnRealEstateCarryingAmountOfMortgages
270800000
CY2015Q4 us-gaap Mortgage Loans On Real Estate Carrying Amount Of Mortgages
MortgageLoansOnRealEstateCarryingAmountOfMortgages
270300000
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
4172975
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
48077669
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
11000000
us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of stockholders.
CY2016Q3 soho Common Stock Exchange Ratio
CommonStockExchangeRatio
1
CY2015Q1 us-gaap Partners Capital Account Units Redeemed
PartnersCapitalAccountUnitsRedeemed
0
CY2016Q3 soho Operating Partnership Common Unit Not Owned
OperatingPartnershipCommonUnitNotOwned
1778140
CY2015Q4 soho Operating Partnership Common Unit Not Owned
OperatingPartnershipCommonUnitNotOwned
2200827
CY2016Q3 soho Operating Partnership Preferred Unit Outstanding
OperatingPartnershipPreferredUnitOutstanding
1610000
CY2015Q4 soho Operating Partnership Preferred Unit Outstanding
OperatingPartnershipPreferredUnitOutstanding
0
soho Percentage Of Matching Contribution For First Specified Percentage Of Employee Contribution
PercentageOfMatchingContributionForFirstSpecifiedPercentageOfEmployeeContribution
1.000
soho Percentage Of Matching Contribution For Next Specified Percentage Of Employee Contribution
PercentageOfMatchingContributionForNextSpecifiedPercentageOfEmployeeContribution
0.500
soho Percentage Of First Specified Percentage Of Employee Contribution
PercentageOfFirstSpecifiedPercentageOfEmployeeContribution
0.030
soho Percentage Of Next Specified Percentage Of Employee Contribution
PercentageOfNextSpecifiedPercentageOfEmployeeContribution
0.020
CY2016Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
10177
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
56122
CY2015Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
14567
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
42177
CY2015Q3 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
67708
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
67708
CY2016Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
63429
CY2015Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
311468
CY2016Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
63429
CY2015Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
379176
CY2016Q3 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-437390
CY2015Q3 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-774207
CY2016Q3 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-11184
CY2015Q3 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-118474
CY2016Q3 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
221825
CY2016Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-448574
CY2015Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-892681
CY2016Q3 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-650790
CY2015Q3 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1536869
CY2016Q3 soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
-76172
CY2015Q3 soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
2243368
soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
662524
soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
2909779
CY2016Q3 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
189473
CY2015Q3 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
192994
CY2016Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4900000
CY2015Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4500000
CY2016Q3 soho Deferred Tax Assets Start Up Expenses
DeferredTaxAssetsStartUpExpenses
200000
CY2015Q4 soho Deferred Tax Assets Start Up Expenses
DeferredTaxAssetsStartUpExpenses
200000
soho Start Up Expenses Amortization Period
StartUpExpensesAmortizationPeriod
P15Y
soho Loss Carryforwards Expiration Dates
LossCarryforwardsExpirationDates
2028
CY2016Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14949651
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14247671
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14897595
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11884110
CY2016Q3 us-gaap Secured Debt
SecuredDebt
272984165
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-308398

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