$WHLR
Wheeler Real Estate Investment Trust, Inc.

2014 Q4 Form 10-Q Financial Statement

#000152754114000077 Filed on November 13, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $5.390M $3.506M $1.976M
YoY Change 125.52% 77.41% 304.41%
Cost Of Revenue $1.300M $1.100M $380.0K
YoY Change 88.41% 189.47% 216.67%
Gross Profit $4.090M $2.410M $1.590M
YoY Change 140.59% 51.57% 329.73%
Gross Profit Margin 75.88% 68.73% 80.45%
Selling, General & Admin $4.240M $3.020M $2.610M
YoY Change -2594.12% 15.71% 645.71%
% of Gross Profit 103.67% 125.31% 164.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.390M $1.480M $870.0K
YoY Change 195.06% 70.11% 357.89%
% of Gross Profit 58.44% 61.41% 54.72%
Operating Expenses $6.680M $6.133M $3.897M
YoY Change 912.12% 57.38% 493.35%
Operating Profit -$2.590M -$2.627M -$1.921M
YoY Change -349.04% 36.77% 1042.69%
Interest Expense -$1.960M $1.492M $592.2K
YoY Change 276.92% 151.89% 199.03%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$4.550M -$4.119M -$2.510M
YoY Change -975.0% 64.1% 578.38%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$4.050M -$3.514M -$1.720M
YoY Change 1587.5% 104.37% 369.67%
Net Earnings / Revenue -75.14% -100.23% -87.01%
Basic Earnings Per Share
Diluted Earnings Per Share -$4.355M -$3.774M -$2.915M
COMMON SHARES
Basic Shares Outstanding 7.445M shares 7.428M shares 3.302M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.00M $19.90M $1.800M
YoY Change 733.33% 1005.56% 1700.0%
Cash & Equivalents $9.840M $19.86M $1.821M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.978M $1.802M $903.1K
Other Receivables
Total Short-Term Assets $12.00M $21.70M $2.700M
YoY Change 328.57% 703.7% 285.71%
LONG-TERM ASSETS
Property, Plant & Equipment $129.0M $137.5M $83.60M
YoY Change 26.72% 64.47% 558.27%
Goodwill $7.000M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $52.50M $14.00M $12.60M
YoY Change 333.88% 11.11% 950.0%
Total Long-Term Assets $193.0M $166.6M $96.38M
YoY Change 57.44% 72.81% 593.41%
TOTAL ASSETS
Total Short-Term Assets $12.00M $21.70M $2.700M
Total Long-Term Assets $193.0M $166.6M $96.38M
Total Assets $205.0M $188.3M $99.08M
YoY Change 63.49% 90.0% 578.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.100M $5.300M $2.700M
YoY Change 104.0% 96.3% 145.45%
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 $5.100M $5.300M $2.700M
YoY Change 104.0% 96.3% 107.69%
LONG-TERM LIABILITIES
Long-Term Debt $122.3M $129.8M $66.80M
YoY Change 29.28% 94.31% 456.67%
Other Long-Term Liabilities $24.50M $300.0K $4.000M
YoY Change 807.41% -92.5%
Total Long-Term Liabilities $146.8M $130.1M $70.80M
YoY Change 50.87% 83.76% 490.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.100M $5.300M $2.700M
Total Long-Term Liabilities $146.8M $130.1M $70.80M
Total Liabilities $151.8M $135.4M $73.42M
YoY Change 52.21% 84.46% 413.44%
SHAREHOLDERS EQUITY
Retained Earnings -$27.66M -$21.66M -$10.28M
YoY Change 144.82% 110.75%
Common Stock $75.13K $74.40K $71.21K
YoY Change 5.5% 4.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $42.57M $45.36M $19.37M
YoY Change
Total Liabilities & Shareholders Equity $205.0M $188.3M $99.08M
YoY Change 63.49% 90.0% 578.66%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income -$4.050M -$3.514M -$1.720M
YoY Change 1587.5% 104.37% 369.67%
Depreciation, Depletion And Amortization $2.390M $1.480M $870.0K
YoY Change 195.06% 70.11% 357.89%
Cash From Operating Activities $280.0K -$3.100M -$390.0K
YoY Change -137.33% 694.87% -657.14%
INVESTING ACTIVITIES
Capital Expenditures -$6.550M -$11.42M -$10.08M
YoY Change 500.92% 13.29%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$6.550M -$11.42M -$10.08M
YoY Change -20.41% 13.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.620M 18.14M 11.43M
YoY Change -143.51% 58.71% -8264.29%
NET CHANGE
Cash From Operating Activities 280.0K -3.100M -390.0K
Cash From Investing Activities -6.550M -11.42M -10.08M
Cash From Financing Activities -3.620M 18.14M 11.43M
Net Change In Cash -9.890M 3.620M 960.0K
YoY Change 1398.48% 277.08% -1471.43%
FREE CASH FLOW
Cash From Operating Activities $280.0K -$3.100M -$390.0K
Capital Expenditures -$6.550M -$11.42M -$10.08M
Free Cash Flow $6.830M $8.320M $9.690M
YoY Change 1908.82% -14.14% 13742.86%

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us-gaap Payments For Repurchase Of Convertible Preferred Stock
PaymentsForRepurchaseOfConvertiblePreferredStock
7168 USD
us-gaap Payments For Repurchase Of Convertible Preferred Stock
PaymentsForRepurchaseOfConvertiblePreferredStock
0 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
1853682 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
3360817 USD
us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
14065085 USD
us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
11416213 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
285827 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
195529 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1552320 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
101549 USD
CY2013Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
79049 USD
CY2014Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1088062 USD
CY2014Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2014Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1648900 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-indent:32px;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-bottom:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to prior period amounts to make their presentation comparable with the current period. These reclassifications had no impact on net income.</font></div></div>
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
12001647 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
37449628 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
4005736 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
9044435 USD
us-gaap Profit Loss
ProfitLoss
-4374556 USD
us-gaap Profit Loss
ProfitLoss
-7153082 USD
CY2014Q3 us-gaap Profit Loss
ProfitLoss
-4001753 USD
CY2013Q3 us-gaap Profit Loss
ProfitLoss
-2513011 USD
CY2013Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
32017 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
69920 USD
CY2014Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
46774 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
18742 USD
CY2014Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
7348240 USD
CY2013Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
5059698 USD
CY2014Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
144889305 USD
CY2013Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
106832033 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has made estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reported periods. The Company&#8217;s actual results could differ from these estimates.</font></div></div>
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
7671487 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
11101589 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-11298253 USD
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-21657039 USD
CY2014Q3 us-gaap Revenues
Revenues
4167830 USD
us-gaap Revenues
Revenues
5223348 USD
us-gaap Revenues
Revenues
11465676 USD
CY2013Q3 us-gaap Revenues
Revenues
1976452 USD
CY2013Q4 us-gaap Secured Debt
SecuredDebt
94562503 USD
CY2014Q3 us-gaap Secured Debt
SecuredDebt
129792557 USD
us-gaap Share Based Compensation
ShareBasedCompensation
0 USD
us-gaap Share Based Compensation
ShareBasedCompensation
190000 USD
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
459726 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
190000 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
40274 shares
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
1240234 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
37247628 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
190000 USD
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
45360686 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
18400700 USD
CY2014Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
52831033 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
25606809 USD
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7430413 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7316147 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
3777974 shares
CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4715382 shares
whlr Business Combination Consideration Transferred Cash Paymentsfor Acquisitionand Liabilities Assumed
BusinessCombinationConsiderationTransferredCashPaymentsforAcquisitionandLiabilitiesAssumed
45116509 USD
whlr Minimum Percentage Of Distribution Of Taxable Income To Stockholders
MinimumPercentageOfDistributionOfTaxableIncomeToStockholders
0.90
whlr Past Due Rent Term
PastDueRentTerm
P5D
CY2014Q3 whlr Property Operating Costs
PropertyOperatingCosts
1155666 USD
CY2013Q3 whlr Property Operating Costs
PropertyOperatingCosts
383276 USD
whlr Property Operating Costs
PropertyOperatingCosts
2987885 USD
whlr Property Operating Costs
PropertyOperatingCosts
968846 USD
CY2014Q3 whlr Tenant Relationships
TenantRelationships
3935339 USD
CY2013Q4 whlr Tenant Relationships
TenantRelationships
2372600 USD
whlr Term Of Disqualification To Be Taxed As Reit Due To Losses Of Reit Status
TermOfDisqualificationToBeTaxedAsReitDueToLossesOfReitStatus
P5Y
CY2014Q3 whlr Undeveloped Land Parcels
UndevelopedLandParcels
3 property
CY2014Q1 whlr Warrant Expiration Date
WarrantExpirationDate
2019-01-31
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001527541
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
7444919 shares
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Registrant Name
EntityRegistrantName
Wheeler Real Estate Investment Trust, Inc.

Files In Submission

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0001527541-14-000077-index-headers.html Edgar Link pending
0001527541-14-000077-index.html Edgar Link pending
0001527541-14-000077.txt Edgar Link pending
0001527541-14-000077-xbrl.zip Edgar Link pending
a9302014whlr10-q.htm Edgar Link pending
ex3119-30x2014.htm Edgar Link pending
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report.css Edgar Link pending
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whlr-20140930.xml Edgar Link completed
whlr-20140930.xsd Edgar Link pending
whlr-20140930_cal.xml Edgar Link unprocessable
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whlr-20140930_lab.xml Edgar Link unprocessable
whlr-20140930_pre.xml Edgar Link unprocessable