$SOHO
Sotherly Hotels Inc.

2017 Q3 Form 10-Q Financial Statement

#000156459017022837 Filed on November 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q4 2016 Q3
Revenue $36.77M $35.94M $37.28M
YoY Change -1.36% -2.22% 9.82%
Cost Of Revenue $28.78M $13.64M $13.70M
YoY Change 110.08% -0.51% 7.79%
Gross Profit $7.989M $22.29M $23.58M
YoY Change -66.12% -3.26% 11.07%
Gross Profit Margin 21.73% 62.03% 63.26%
Selling, General & Admin $16.54M $15.59M $15.86M
YoY Change 4.29% -3.47% 1.15%
% of Gross Profit 207.03% 69.94% 67.26%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.430M $3.760M $3.790M
YoY Change 16.89% -6.23% 12.46%
% of Gross Profit 55.45% 16.87% 16.07%
Operating Expenses $34.60M $33.03M $33.54M
YoY Change 3.15% -3.22% 4.89%
Operating Profit $2.174M $2.908M $3.735M
YoY Change -41.79% 10.87% 90.02%
Interest Expense $4.139M -$3.780M -$4.580M
YoY Change -190.38% -19.23% -207.87%
% of Operating Profit 190.37% -129.97% -122.61%
Other Income/Expense, Net
YoY Change
Pretax Income -$1.886M -$1.130M -$1.930M
YoY Change -2.26% -44.88% -146.81%
Income Tax -$950.3K -$1.060M -$390.0K
% Of Pretax Income
Net Earnings -$745.6K -$74.08K -$1.549M
YoY Change -51.87% -89.59% -133.41%
Net Earnings / Revenue -2.03% -0.21% -4.16%
Basic Earnings Per Share -$0.11
Diluted Earnings Per Share -$0.11 $4.027K -$92.31K
COMMON SHARES
Basic Shares Outstanding 13.82M 14.95M 14.95M
Diluted Shares Outstanding 13.82M

Balance Sheet

Concept 2017 Q3 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.70M $31.80M $26.40M
YoY Change 23.86% 176.52% 70.32%
Cash & Equivalents $38.77M $36.36M $26.43M
Short-Term Investments
Other Short-Term Assets $6.200M $4.600M $4.900M
YoY Change 26.53% 4.55% 0.0%
Inventory
Prepaid Expenses
Receivables $6.100M $4.100M $4.700M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $45.00M $40.50M $36.00M
YoY Change 25.0% 100.5% 41.73%
LONG-TERM ASSETS
Property, Plant & Equipment $357.6M $348.6M $354.1M
YoY Change 0.99% -1.8% -0.23%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $5.300M
YoY Change
Other Assets $13.80M $11.50M $11.70M
YoY Change 17.95% 2.68% -20.41%
Total Long-Term Assets $371.4M $365.5M $366.0M
YoY Change 1.48% -1.97% -0.99%
TOTAL ASSETS
Total Short-Term Assets $45.00M $40.50M $36.00M
Total Long-Term Assets $371.4M $365.5M $366.0M
Total Assets $416.4M $406.0M $402.0M
YoY Change 3.58% 3.3% 1.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.10M $13.00M $15.60M
YoY Change 3.21% 5.69% 6.85%
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 $20.90M $17.70M $20.00M
YoY Change 4.5% 15.69% 9.89%
LONG-TERM LIABILITIES
Long-Term Debt $323.0M $307.0M $295.1M
YoY Change 9.45% -4.3% -8.35%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $323.0M $307.0M $295.1M
YoY Change 9.45% -4.3% -8.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.90M $17.70M $20.00M
Total Long-Term Liabilities $323.0M $307.0M $295.1M
Total Liabilities $345.8M $324.7M $317.6M
YoY Change 8.88% -4.56% -6.63%
SHAREHOLDERS EQUITY
Retained Earnings -$39.55M
YoY Change 16.69%
Common Stock $118.5M
YoY Change 43.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $70.70M $79.01M $84.30M
YoY Change
Total Liabilities & Shareholders Equity $416.4M $406.0M $402.0M
YoY Change 3.58% 3.3% 1.76%

Cashflow Statement

Concept 2017 Q3 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income -$745.6K -$74.08K -$1.549M
YoY Change -51.87% -89.59% -133.41%
Depreciation, Depletion And Amortization $4.430M $3.760M $3.790M
YoY Change 16.89% -6.23% 12.46%
Cash From Operating Activities $3.280M $2.670M $1.820M
YoY Change 80.22% 30.24% -4650.0%
INVESTING ACTIVITIES
Capital Expenditures -$5.000M -$3.690M -$2.390M
YoY Change 109.21% -16.89% -92.17%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$2.340M $1.280M
YoY Change -100.0% 387.5% -69.16%
Cash From Investing Activities -$5.000M -$6.020M -$1.130M
YoY Change 342.48% 22.36% -95.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.440M 7.500M -350.0K
YoY Change -511.43% -781.82% -101.42%
NET CHANGE
Cash From Operating Activities 3.280M 2.670M 1.820M
Cash From Investing Activities -5.000M -6.020M -1.130M
Cash From Financing Activities 1.440M 7.500M -350.0K
Net Change In Cash -280.0K 4.150M 340.0K
YoY Change -182.35% -204.53% -118.68%
FREE CASH FLOW
Cash From Operating Activities $3.280M $2.670M $1.820M
Capital Expenditures -$5.000M -$3.690M -$2.390M
Free Cash Flow $8.280M $6.360M $4.210M
YoY Change 96.67% -2.0% -86.19%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
4271629
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
6095309
CY2016Q4 soho Employee Stock Ownership Plan Esop Maximum Borrowing Amount To Purchase Common Stock
EmployeeStockOwnershipPlanESOPMaximumBorrowingAmountToPurchaseCommonStock
5000000
CY2017Q3 soho Employee Stock Ownership Plan Esop Number Of Allocated And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedAndCommittedToBeReleasedShares
8424
soho Employee Stock Ownership Plan Esop Number Of Allocated And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedAndCommittedToBeReleasedShares
25408
CY2017Q3 soho Employee Stock Ownership Plan Esop Allocated And Committed To Be Released From Suspense Account Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedAndCommittedToBeReleasedFromSuspenseAccountSharesFairValue
60075
soho Employee Stock Ownership Plan Esop Allocated And Committed To Be Released From Suspense Account Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedAndCommittedToBeReleasedFromSuspenseAccountSharesFairValue
178137
CY2017Q3 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
657092
CY2017Q3 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
3870272
CY2017Q3 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
9473
CY2017Q3 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
15935
CY2017Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
11000000
CY2017Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1610000
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1610000
CY2017Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1610000
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1610000
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0800
CY2017Q3 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
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.
CY2017Q3 soho Common Stock Exchange Ratio
CommonStockExchangeRatio
1
CY2016Q1 us-gaap Partners Capital Account Units Redeemed
PartnersCapitalAccountUnitsRedeemed
0
CY2017Q3 soho Operating Partnership Common Unit Not Owned
OperatingPartnershipCommonUnitNotOwned
1778140
CY2016Q4 soho Operating Partnership Common Unit Not Owned
OperatingPartnershipCommonUnitNotOwned
1778140
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
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
57516
CY2017Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
11659
CY2016Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
10177
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
56122
CY2017Q3 soho Employee Stock Ownership Plan Esop Number Of Allocated Shares And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedSharesAndCommittedToBeReleasedShares
25408
CY2017Q3 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
682500
CY2017Q3 soho Employee Stock Ownership Plan Esop Allocated Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesFairValue
64321
CY2017Q3 soho Employee Stock Ownership Plan Esop Shares Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPSharesCommittedToBeReleasedFairValue
113816
CY2017Q3 soho Employee Stock Ownership Plan Esop Allocated Shares And Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesAndCommittedToBeReleasedFairValue
178137
CY2017Q3 soho Employee Stock Ownership Plan Esop Shares Fair Value
EmployeeStockOwnershipPlanESOPSharesFairValue
4048409
CY2017Q3 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-10184
CY2017Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
97641
CY2016Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
63429
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
197881
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
147791
CY2017Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
87457
CY2016Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
63429
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
197881
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
147791
CY2017Q3 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-879206
CY2016Q3 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-437390
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-661787
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-429257
CY2017Q3 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-158561
CY2016Q3 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-11184
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-117984
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-26932
CY2017Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1037767
CY2016Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-448574
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-779771
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-456189
CY2017Q3 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-641346
CY2016Q3 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-650790
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
851313
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
233267
CY2017Q3 soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
248043
CY2016Q3 soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
-76172
soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
1513100
soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
662524
CY2017Q3 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-60921
CY2016Q3 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
189473
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
79897
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
120859
CY2017Q3 soho Deferred Tax Assets Start Up Expenses
DeferredTaxAssetsStartUpExpenses
200000
CY2016Q4 soho Deferred Tax Assets Start Up Expenses
DeferredTaxAssetsStartUpExpenses
200000
soho Start Up Expenses Amortization Period
StartUpExpensesAmortizationPeriod
P15Y
soho Loss Carryforwards Expiration Dates
LossCarryforwardsExpirationDates
2028
CY2016Q4 us-gaap Secured Debt
SecuredDebt
20500000

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