Glimcher Realty Trust (FRA:GRY) Accounts Receivable : €26.3 Mil (As of Sep. 2014)

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What is Glimcher Realty Trust Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Glimcher Realty Trust's accounts receivables for the quarter that ended in Sep. 2014 was €26.3 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Glimcher Realty Trust's Days Sales Outstanding for the quarter that ended in Sep. 2014 was 39.72.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Glimcher Realty Trust's Net-Net Working Capital per share for the quarter that ended in Sep. 2014 was €-12.05.

Glimcher Realty Trust Accounts Receivable Historical Data

The historical data trend for Glimcher Realty Trust's Accounts Receivable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Glimcher Realty Trust Accounts Receivable Chart

Glimcher Realty Trust Annual Data

Trend

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Accounts Receivable

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20.59

19.16

1.78

1.16

3.38

Glimcher Realty Trust Quarterly Data
	Sep09	Dec09	Mar10	Jun10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14
Accounts Receivable	Get a 7-Day Free Trial															0.40	3.38	23.12	24.19	26.32

Glimcher Realty Trust Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

Glimcher Realty Trust Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Glimcher Realty Trust's Days Sales Outstanding for the quarter that ended in Sep. 2014 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	26.323	/	60.469	*	91
=	39.72

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), Glimcher Realty Trust's accounts receivable are only considered to be worth 75% of book value:

Glimcher Realty Trust's Net-Net Working Capital Per Share for the quarter that ended in Sep. 2014 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(14.321	+	0.75 * 26.323	+	0.5 * 0	-	1548.887
-	231.19	-	9.712)	/	145.709
=	-12.05

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

Glimcher Realty Trust Accounts Receivable Related Terms

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Glimcher Realty Trust (FRA:GRY) Business Description

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Address

Website

http://www.glimcher.com

Glimcher Realty Trust is a self-administered and self-managed Maryland real estate investment trust which was formed on September 1, 1993. The Company and its affiliates are engaged in owning, leasing, acquiring, developing and operating a portfolio of retail properties consisting of regional and super regional malls and community shopping centers. At December 31, 2013, the Company owned material interests in and managed 28 properties - 25 wholly-owned and 3 partially owned through joint ventures which are located in 15 states. The Properties contain an aggregate of approximately 19.3 million square feet of gross leasable area of which approximately 95.6% was occupied at December 31, 2013. The Malls provide a range of shopping alternatives to serve the needs of customers in all market segments. The Company's Malls are in various formats such as enclosed regional malls, open-air retail centers, and outlet centers. Malls are generally anchored by multiple department stores such as Belk's, The Bon-Ton, Boscov's, Dick's Sporting Goods, Dillard's, Elder-Beerman, Herberger's, JCPenney, Kohl's, Macy's, Saks, Sears, and Von Maur. Mall stores, most of which are national retailers, include Abercrombie & Fitch, American Eagle Outfitters, Apple, Bath & Body Works, Express, Finish Line, Foot Locker, Forever 21, H&M, Hallmark, Kay Jewelers, The Limited, lululemon athletica, Pacific Sunwear, and Victoria's Secret. The Malls also have additional restaurants and retail businesses, such as Benihana, Cheesecake Factory, P.F. Chang's, and Red Lobster, located along the perimeter of the parking areas. The Company's Community Centers are designed to attract local and regional area customers and are typically anchored by a combination of discount department stores or supermarkets which attract shoppers to each center's smaller shops. The tenants at the Company's Community Centers typically offer day-to-day necessities and value-oriented merchandise. Many of the Community Centers have retail businesses or restaurants located along the perimeter of the parking areas. There are numerous shopping facilities that compete with the Company's Properties in attracting retailers to lease space.

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