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Capstead Mortgage - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

Capstead Mortgage Corp. (ISIN: US14067E5069, WKN: 872385) Kursdatum: 21.07.2017 Kurs: 10,190 USD
Beschreibung Daten
Symbol CMO
Marktkapitalisierung 976.395.584,00 USD
Land Vereinigte Staaten von Amerika
Indizes NO INDEX
Sektor Finanzdienstleister
Rohdaten nach US GAAP in Millionen USD
Aktiensplits 2001-06-29 - 1:2 | 2000-05-09 - 1:2 |
Internet www.capstead.com
Letztes Bilanz Update 24.02.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 21.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
4,54 4,54 9,32% 0,49 9,19 14,56 5,01 0,78

Firmenbeschreibung

NOTE 13 ¾ QUARTERLY RESULTS (UNAUDITED) Summarized quarterly results of operations were as follows (in thousands, except per share amounts).   FirstQuarter  SecondQuarter  ThirdQuarter  FourthQuarter Year Ended December 31, 2015            Interest income on residential mortgage investments (before investment premium amortization) $83,723  $83,398  $83,808  $86,250 Investment premium amortization  (25,078)  (33,057)  (34,323)  (28,732)Related interest expense  (19,214)  (20,098)  (22,272)  (23,937)   39,431   30,243   27,213   33,581 Other interest income (expense) *  (2,029)  (2,023)  (2,034)  (2,027)Other revenue (expense) **  (3,445)  (3,276)  (4,112)  (3,197)Net income $33,957  $24,944  $21,067  $28,357                  Basic and diluted net income per common share $0.32  $0.22  $0.18  $0.26                  Year Ended December 31, 2014                Interest income on residential mortgage investments (before investment premium amortization) $81,733  $82,233  $82,146  $82,509 Investment premium amortization  (22,288)  (25,141)  (28,284)  (26,159)Related interest expense  (15,407)  (15,542)  (16,099)  (18,107)   44,038   41,550   37,763   38,243 Other interest income (expense) *  (2,061)  (2,045)  (2,044)  (2,023)Other revenue (expense) **  (3,586)  (2,941)  (3,328)  (2,746)Net income $38,391  $36,564  $32,391  $33,474                  Basic and diluted net income per common share $0.37  $0.35  $0.30  $0.31    *Consists principally of interest on unsecured borrowings. **Consists of general and administrative expenses, including compensation-related costs, and miscellaneous other revenue (expenses).

Firmenstrategie

RevenueRecognitionPolicyTextBlock

SegmentReportingDisclosureTextBlock

19.  Segmented Information

 

The Company has seven reportable segments identified by category of product sold or service provided: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production; and other. The IMAX systems segment includes the design, manufacture, sale or lease of IMAX theater projection system equipment. The theater system maintenance segment includes the maintenance of IMAX theater projection system equipment in the IMAX theater network. The joint revenue sharing arrangements segment includes the provision of IMAX theater projection system equipment to an exhibitor in exchange for a share of the box-office and concession revenues. The film production and IMAX DMR segment includes the production of films and the performance of film re-mastering services. The film distribution segment includes the distribution of films for which the Company has distribution rights. The film post-production segment provides film post-production and film print services. The Company refers to all theaters using the IMAX theater system as “IMAX theaters”. The other segment includes certain IMAX theaters that the Company owns and operates, camera rentals and other miscellaneous items. The accounting policies of the segments are the same as those described in note 2.

 

Management, including the Company’s Chief Executive Officer (“CEO”) who is the Company’s Chief Operating Decision Maker (as defined in the Segment Reporting Topic of the FASB ASC), assesses segment performance based on segment revenues, gross margins and film performance. Selling, general and administrative expenses, research and development costs, amortization of intangibles, receivables provisions (recoveries), write-downs net of recoveries, interest income, interest expense and tax (provision) recovery are not allocated to the segments.

 

Transactions between the film production and IMAX DMR segment and the film post-production segment are valued at exchange value. Inter-segment profits are eliminated upon consolidation, as well as for the disclosures below.

 

Transactions between the other segments are not significant.


  1. Operating Segments

 

EarningsPerSharePolicyTextBlock

NOTE 3 ¾ NET INCOME PER COMMON SHARE

 

Basic net income per common share is computed by dividing net income, after (a) deducting dividends paid or accrued on preferred stock, (b) deducting any preferred stock redemption premiums paid and (c) allocating earnings to equity awards deemed to be participating securities pursuant to the two-class method, by the average number of shares of common stock outstanding, calculated excluding unvested stock awards.  Participating securities include unvested equity awards that contain non-forfeitable rights to dividends prior to vesting.


Diluted net income per common share is computed by dividing the numerator used to compute basic net income per common share (after adding back dividends on shares of convertible preferred stock prior to their redemption in June 2013 and when such shares were dilutive) by the denominator used to compute basic net income per common share, further adjusted for the dilutive effect, if any, of equity awards and shares of preferred stock when and if convertible into shares of common stock.  Shares of the Company’s 7.50% Series E Cumulative Redeemable Preferred Stock are contingently convertible into shares of common stock only upon the occurrence of a change in control and therefore are not considered dilutive securities absent such an occurrence.  Any unvested equity awards that are deemed participating securities are included in the calculation of diluted net income per common share, if dilutive, under either the two-class method or the treasury stock method, depending upon which method produces the more dilutive result.  Components of the computation of basic and diluted net income per common share were as follows for the indicated periods (dollars in thousands, except per share amounts):


 

 

Years Ended December 31,

 

 

 

2015

 

 

2014

 

 

2013

Revenue(1)

 

 

 

 

 

 

 

 

IMAX theater systems

 

 

 

 

 

 

 

 

 

IMAX systems

$ 

102,128 

 

$ 

72,992 

 

$ 

80,189 

 

Theater system maintenance

 

36,944 

 

 

34,042 

 

 

31,978 

 

Joint revenue sharing arrangements

 

99,120 

 

 

68,418 

 

 

64,130 

 

 

 

238,192 

 

 

175,452 

 

 

176,297 

 

 

 

 

 

 

 

 

 

 

Films

 

 

 

 

 

 

 

 

 

Production and IMAX DMR

 

107,089 

 

 

83,172 

 

 

83,496 

 

Distribution

 

3,876 

 

 

8,932 

 

 

7,770 

 

Post-production

 

7,069 

 

 

10,831 

 

 

9,192 

 

 

 

118,034 

 

 

102,935 

 

 

100,458 

 

 

 

 

 

 

 

 

 

 

Other

 

17,579 

 

 

12,154 

 

 

11,182 

 

 

 

 

 

 

 

 

 

 

Total

$ 

373,805 

 

$ 

290,541 

 

$ 

287,937 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

 

 

 

 

 

 

 

IMAX theater systems

 

 

 

 

 

 

 

 

 

IMAX systems(2)

$ 

59,168 

 

$ 

47,928 

 

$ 

49,040 

 

Theater system maintenance(2)

 

12,702 

 

 

12,375

   
Year ended December 31
 
   
2015
   
2014
   
2013
 
Basic net income per common share
                 
Numerator for basic net income per common share:
                 
Net income
 
$
108,325
   
$
140,820
   
$
126,487
 
Preferred stock dividends
   
(15,160
)
   
(13,781
)
   
(17,536
)
Redemption preference premiums paid on convertible preferred stock
   
     
     
(19,924
)
Earnings participation of unvested equity awards
   
(123
)
   
(95
)
   
(139
)
   
$
93,042
   
$
126,944
   
$
88,888
 
Denominator for basic net income per common share:
                       
Average number of shares of common stock outstanding
   
95,817
     
95,789
     
95,679
 
Average unvested stock awards outstanding
   
(308
)
   
(398
)
   
(506
)
     
95,509
     
95,391
     
95,173
 
   
$
0.97
   
$
1.33
   
$
0.93
 
Diluted net income per common share
                       
Numerator for diluted net income per common share:
                       
Numerator for basic net income per common share
 
$
93,042
   
$
126,944
   
$
88,888
 
Dividends on dilutive convertible preferred stock
   
     
     
44
 
   
$
93,042
   
$
126,944
   
$
88,932
 
Denominator for diluted net income per common share:
                       
Denominator for basic net income per common share
   
95,509
     
95,391
     
95,173
 
Net effect of dilutive equity awards
   
192
     
238
     
145
 
Net effect of dilutive convertible preferred stock
   
     
     
75
 
     
95,701
     
95,629
     
95,393
 
   
$
0.97
   
$
1.33
   
$
0.93
 

 

Securities that could be potentially dilutive in the future that were not included in the computation of diluted net income per common share include 15,000, 15,000 and 273,000 anti-dilutive equity awards excludable under the treasury stock method for 2015, 2014 and 2013, respectively.