SOTHERLY HOTELS INC. SOHOO Income Statement

Sotherly hotels inc. (SOHOO)

Income statement / Quarterly

Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
REVENUE
Total revenue
44,304	42,552	51,540	47,390	43,465	41,418	51,553	41,735	-	36,769	40,642	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Hotel operating expenses
Total hotel operating expenses
35,025	33,648	35,958	34,218	33,219	32,243	35,170	29,857	-	28,780	29,124	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Rooms department
-	-	-	-	-	-	-	-	-	-	-	27,366	-	26,665	29,909	27,322	25,017	24,132	26,351	21,336	19,508	22,240	25,416	17,453	15,144	15,290	18,152	14,249	13,542	15,580	17,756	13,943	12,964	14,154	16,164	12,904	13,736	14,953
Food and beverage department
-	-	-	-	-	-	-	-	-	-	-	8,323	-	8,412	9,578	8,249	9,384	7,556	8,605	7,726	8,529	7,643	9,020	6,251	6,106	5,121	5,974	4,851	5,713	5,071	6,181	4,994	5,491	4,656	5,767	4,567	4,657	5,430
Other operating departments
-	-	-	-	-	-	-	-	-	-	-	3,004	-	2,197	2,337	2,238	2,348	2,252	1,908	1,912	1,787	1,880	1,903	1,305	1,224	1,046	1,123	1,088	1,177	1,118	1,174	1,086	1,036	1,204	1,197	1,063	1,144	1,125
Total revenue
-	-	-	-	-	-	-	-	-	-	-	38,694	-	37,275	41,824	37,810	36,750	33,941	36,865	30,975	29,825	31,764	36,339	25,010	22,475	21,458	25,250	20,189	20,434	21,771	25,112	20,025	19,492	20,015	23,129	18,535	19,537	21,509
Rooms department
-	-	-	-	-	-	-	-	-	-	-	6,682	-	7,126	7,354	7,080	6,026	6,657	6,498	5,842	5,708	6,175	6,278	4,751	4,334	4,300	4,563	4,013	3,809	4,383	4,470	3,950	3,793	4,078	4,277	3,692	3,972	3,929
Food and beverage department
-	-	-	-	-	-	-	-	-	-	-	5,728	-	5,820	6,490	5,939	6,337	5,562	5,700	5,405	5,601	5,417	5,936	4,070	3,774	3,358	3,690	3,224	3,471	3,456	3,958	3,397	3,514	3,266	3,710	3,126	3,227	3,509
Other operating departments
-	-	-	-	-	-	-	-	-	-	-	600	-	642	644	593	593	491	362	338	327	327	335	201	161	121	119	106	114	125	117	123	117	157	141	120	196	170
Indirect
-	-	-	-	-	-	-	-	-	-	-	14,205	-	14,603	14,857	14,135	15,021	13,245	12,332	11,468	11,208	12,190	12,189	9,483	-	8,438	-	-	-	-	-	-	-	-	-	-	-	-
Indirect
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,756	7,815	7,792	8,484	8,706	7,936	7,842	8,152	8,223	7,565	7,770	7,662
Total hotel operating expenses
-	-	-	-	-	-	-	-	-	-	-	27,216	-	28,191	29,347	27,750	27,978	25,957	24,894	23,054	22,845	24,110	24,740	18,507	17,019	16,218	17,130	15,159	15,188	16,449	17,252	15,407	15,268	15,655	16,352	14,506	15,166	15,272
Depreciation and amortization
5,520	4,980	5,108	6,028	5,101	4,547	5,601	5,634	4,291	4,427	4,219	4,061	3,758	3,790	3,801	3,668	4,007	3,374	3,304	2,904	3,073	3,472	2,988	2,434	2,345	2,038	2,031	2,052	2,136	2,150	2,195	2,179	2,241	2,187	2,149	2,123	2,123	2,126
Unrealized gain on hedging activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	22	50	-16	263
Loss on disposal of assets
-91	-4	-31	4	-515	7	0	-3	-	-	-51	-	-	-189	-140	-	-	-207	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Corporate general and administrative
1,822	1,768	1,554	1,684	1,614	1,516	1,503	1,546	1,453	1,335	1,834	1,712	1,689	1,367	1,356	1,607	1,889	2,437	1,490	1,451	1,347	1,039	1,391	1,307	1,276	866	1,123	1,093	1,005	978	962	1,131	871	1,348	848	957	725	904
Total operating expenses
-	40,402	-	-	-	38,298	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
-	-	42,653	41,927	-	-	42,275	37,041	-	34,543	35,230	32,989	33,167	33,539	34,505	33,025	34,127	31,976	29,689	27,410	30,441	28,622	29,120	22,249	21,251	19,123	20,285	18,306	18,330	19,577	20,410	18,719	18,381	19,191	19,351	17,586	18,016	18,302
NET OPERATING INCOME
1,845	2,150	8,887	5,463	3,014	3,119	9,277	4,694	2,819	2,226	5,412	5,705	2,768	3,735	7,319	4,784	2,623	1,965	7,175	3,565	-616	3,141	7,219	2,760	1,223	2,335	4,965	1,883	2,103	2,193	4,701	1,306	1,110	823	3,778	948	1,521	3,206
Other income (expense)
Interest expense
4,652	4,722	5,088	5,305	5,382	5,306	5,087	4,177	3,900	4,139	3,874	3,813	3,862	4,626	4,613	4,632	4,655	4,245	3,840	3,774	3,833	3,994	3,925	2,883	694	3,899	2,332	2,680	2,367	2,442	4,283	3,288	2,768	2,747	2,720	2,585	2,608	2,466
Interest income
86	102	155	99	116	88	66	81	112	53	13	39	52	44	10	8	9	15	15	10	6	6	5	1	6	3	3	3	4	4	3	4	2	4	4	2	4	5
Equity income in joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-31	8	24	474	58	-156	17	387	15	-122	87	469	156	-162	-88	265	100	-283	-166	289	-184	-82
Loss on early extinguishment of debt
-	-	-1,152	-	-	-753	-	-	-	-	-228	-	-	-1,087	-70	-	-	-74	-698	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized loss on hedging activities
377	-226	-837	-490	-950	123	5	12	2	-3	-11	-15	29	-0	-15	-50	-	-106	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of assets
-	-	-	-	-	-	-	-	-1	-23	0	100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on exercise of development right
-	3,940	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on change in control
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,560	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on involuntary conversion of assets
1	130	0	161	19	0	27	870	1,201	0	0	1,041	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on involuntary conversion of asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	37	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized gain (loss) on warrant derivative
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-340	88	-	-	-	-	-	-	-	-	-	-	-
Unrealized loss on warrant derivative
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,769	-	-1,659	-	-	-	-	-	-	-	-
Loss on disposal of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-130	-9	6	6	-84	-
Net income (loss) before income taxes
-2,341	1,374	1,964	-72	-3,183	-2,728	4,290	1,482	-716	-1,886	1,312	3,057	-1,133	-1,934	2,490	109	-2,051	4,123	2,714	275	-5,047	-1,002	3,316	266	-673	-2,023	2,812	-3,092	-	-2,067	-	-	-	-	-	-	-	-
Unrealized gain (loss) on warrant derivative
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,521	1,163	-	646	-380	-	-	-
Net income (loss) before income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,188	-2,875	-	-1,566	544	-1,288	-1,367	927
Income tax benefit (provision)
-688	-694	815	318	-412	-746	1,323	305	2,319	-950	196	171	-1,059	-385	512	-436	-1,339	-513	955	-438	-834	-722	563	-735	27	93	1,111	263	210	27	958	104	140	-71	788	48	3	555
Net income (loss)
-1,652	2,068	1,149	-390	-2,770	-1,981	2,967	1,176	-3,036	-936	1,115	2,886	-74	-1,549	1,977	545	-711	4,636	1,759	713	-4,213	-280	2,752	1,002	-701	-2,117	1,701	-3,355	1,894	-2,095	-2,146	-2,980	-3,400	-1,494	-243	-1,336	-1,370	371
Less: Net loss attributable to noncontrolling interest
-422	-13	-91	-206	-472	-385	170	-30	-486	-190	33	229	-132	-172	216	62	-189	764	327	138	-893	-65	585	219	-151	-468	390	-760	435	-480	-492	-685	-844	-377	-60	-347	-366	116
Net income attributable to the Company
-1,230	2,082	1,240	-183	-2,297	-1,596	2,797	1,206	-	-745	1,081	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,004	255
Net income attributable to the Company
-	-	-	-	-	-	-	-	-	-	-	2,656	-	-1,376	1,761	483	-522	3,872	1,431	575	-3,319	-214	2,166	783	-549	-1,649	1,310	-2,594	1,458	-1,615	-1,653	-2,294	-2,555	-1,117	-182	-989	-	-
Distributions to preferred stockholders
2,188	2,188	1,972	1,470	1,470	1,469	1,444	1,444	1,366	805	805	805	-	339	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss available to common stockholders
-3,418	-106	-731	-1,653	-3,768	-3,065	1,352	-238	-3,916	-1,550	276	1,851	-746	-1,716	1,761	483	-	3,872	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,776	-	-	-	-	-	-	-	-
Net loss per share available to common stockholders/general and limited partner unit
Basic
-0.25	-0.01	-0.05	-0.12	-0.27	-0.23	0.10	-0.02	-	-0.11	0.02	-	-	-0.11	0.12	-	-	-	-	-	-	-	-	-	-	-	0.13	-	-	-0.16	-0.17	-0.23	-	-0.12	-0.02	-0.10	-0.11	0.03
Diluted
-	-	-0.05	-	-	-	0.10	-	-	-0.11	0.02	-	-	-0.11	0.12	-	-	-	-	-	-	-	-	-	-	-	0.12	-	-	-0.15	-0.16	-0.23	-	-0.11	-0.02	-0.10	-0.11	0.03
Basic and diluted
-	-	-	-	-	-	-	-	-	-	-	0.13	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.03	-	0.27	0.13	0.05	-0.33	-0.02	0.21	0.08	-	-0.16	-	-0.26	-	-	-	-	-	-	-	-	-	-
Weighted average number of common shares/general and limited partner units outstanding
Basic
13,696	13,636	13,626	13,610	13,594	13,513	13,488	13,472	-	13,822	13,813	-	-	14,949	14,949	-	-	-	-	-	-	-	-	-	-	-	10,156	-	-	9,999	9,999	9,983	-	9,701	9,617	9,560	9,541	9,525
Diluted
-	-	13,626	-	-	-	13,489	-	-	13,822	13,815	-	-	14,949	14,949	-	-	-	-	-	-	-	-	-	-	-	11,132	-	-	10,801	10,623	10,188	-	9,802	9,977	9,560	9,557	9,541
Basic and diluted
-	-	-	-	-	-	-	-	-	-	-	14,025	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,974	-	-	-	-	-	-	-	-
Basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,792	-	14,247	10,768	10,595	10,575	10,353	10,353	10,225	-	10,181	-	10,080	-	-	-	-	-	-	-	-	-	-
Rooms Department [Member]
Total revenue
29,501	29,253	36,356	32,951	28,751	28,626	35,330	28,285	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total hotel operating expenses
7,877	8,064	8,418	7,781	7,583	7,873	8,176	6,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Food and Beverage Department [Member]
Total revenue
10,682	8,997	10,863	9,723	10,284	8,417	11,080	8,351	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total hotel operating expenses
7,560	7,036	7,621	7,136	7,341	6,680	7,673	6,395	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Operating Departments [Member]
Total revenue
4,121	4,300	4,320	4,715	4,429	4,374	5,142	5,098	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total hotel operating expenses
1,949	1,352	1,745	1,910	1,549	1,661	1,680	1,528	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sotherly Hotels LP [Member]
Total revenue
44,304	42,552	51,540	47,390	43,465	41,418	51,553	41,735	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total hotel operating expenses
35,025	33,648	35,958	34,218	33,219	32,243	35,170	29,857	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
5,520	4,980	5,108	6,028	5,101	4,547	5,601	5,634	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of assets
-91	-4	-31	4	-515	7	0	-3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Corporate general and administrative
1,822	1,768	1,554	1,684	1,614	1,516	1,503	1,546	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
-	40,402	-	-	-	38,298	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
-	-	42,653	41,927	-	-	42,275	37,041	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET OPERATING INCOME
1,845	2,150	8,887	5,463	3,014	3,119	9,277	4,694	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
4,652	4,722	5,088	5,305	5,382	5,306	5,087	4,177	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
86	102	155	99	116	88	66	81	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on early extinguishment of debt
-	-	-1,152	-	-	-753	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized loss on hedging activities
377	-226	-837	-490	-950	123	5	12	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on exercise of development right
-	3,940	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on involuntary conversion of assets
1	130	0	161	19	0	27	870	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) before income taxes
-2,341	1,374	1,964	-72	-3,183	-2,728	4,290	1,482	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax benefit (provision)
-688	-694	815	318	-412	-746	1,323	305	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss)
-1,652	2,068	1,149	-390	-2,770	-1,981	2,967	1,176	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions To Preferred Unit Holders
2,188	2,188	1,972	1,470	1,470	1,469	1,444	1,444	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income Loss Attributable To Operating Partnership Unit Holders
-	-	-823	-1,860	-	-	1,522	-268	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss available to general and limited partnership unit holders
-	-120	-	-	-	-3,451	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic
-	-0.01	-	-	-	-0.22	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic and diluted
-	-	-0.05	-0.12	-	-	0.10	-0.02	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic
-	16,000	-	-	-	15,915	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic and diluted
-	-	16,000	15,994	-	-	15,899	15,892	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Indirect [Member]
Total hotel operating expenses
17,638	17,194	18,173	17,389	16,744	16,027	17,640	15,233	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-