$AHH
Armada Hoffler Properties, Inc.

2013 Q2 Form 10-Q Financial Statement

#000119312513333799 Filed on August 14, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $37.52M $25.99M
YoY Change 44.36%
Cost Of Revenue $27.15M $15.65M
YoY Change 73.48%
Gross Profit $10.37M $10.34M
YoY Change 0.33%
Gross Profit Margin 27.64% 39.77%
Selling, General & Admin $2.860M $950.0K
YoY Change 201.05%
% of Gross Profit 27.57% 9.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.020M $3.230M
YoY Change 24.46%
% of Gross Profit 38.76% 31.24%
Operating Expenses $34.56M $19.84M
YoY Change 74.19%
Operating Profit $10.37M $10.34M
YoY Change 0.33%
Interest Expense $3.289M $4.217M
YoY Change -22.01%
% of Operating Profit 31.71% 40.79%
Other Income/Expense, Net $185.0K $160.0K
YoY Change 15.63%
Pretax Income $8.193M $2.099M
YoY Change 290.33%
Income Tax -$211.0K $0.00
% Of Pretax Income -2.58% 0.0%
Net Earnings $8.404M $2.110M
YoY Change 298.29%
Net Earnings / Revenue 22.4% 8.12%
Basic Earnings Per Share
Diluted Earnings Per Share $267.6K $2.110M
COMMON SHARES
Basic Shares Outstanding 18.61M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.70M
YoY Change
Cash & Equivalents $14.74M $7.521M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $17.50M
Other Receivables $17.50M
Total Short-Term Assets $49.70M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $321.7M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.100M
YoY Change
Total Long-Term Assets $349.6M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $49.70M
Total Long-Term Assets $349.6M
Total Assets $399.3M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.600M
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $25.60M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $244.3M
YoY Change
Other Long-Term Liabilities $16.20M
YoY Change
Total Long-Term Liabilities $260.5M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $25.60M
Total Long-Term Liabilities $260.5M
Total Liabilities $287.8M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$43.93M
YoY Change
Common Stock $192.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$42.98M
YoY Change
Total Liabilities & Shareholders Equity $399.3M
YoY Change

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $8.404M $2.110M
YoY Change 298.29%
Depreciation, Depletion And Amortization $4.020M $3.230M
YoY Change 24.46%
Cash From Operating Activities $2.560M $9.030M
YoY Change -71.65%
INVESTING ACTIVITIES
Capital Expenditures -$11.60M -$1.120M
YoY Change 935.71%
Acquisitions
YoY Change
Other Investing Activities $460.0K $420.0K
YoY Change 9.52%
Cash From Investing Activities -$11.15M -$700.0K
YoY Change 1492.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $150.0M
YoY Change
Cash From Financing Activities 19.22M -4.600M
YoY Change -517.83%
NET CHANGE
Cash From Operating Activities 2.560M 9.030M
Cash From Investing Activities -11.15M -700.0K
Cash From Financing Activities 19.22M -4.600M
Net Change In Cash 10.63M 3.730M
YoY Change 184.99%
FREE CASH FLOW
Cash From Operating Activities $2.560M $9.030M
Capital Expenditures -$11.60M -$1.120M
Free Cash Flow $14.16M $10.15M
YoY Change 39.51%

Facts In Submission

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dei Trading Symbol
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dei Entity Registrant Name
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ARMADA HOFFLER PROPERTIES, INC.
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dei Document Type
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dei Document Period End Date
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dei Entity Central Index Key
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ahh Increase Decrease In Distributions Payable
IncreaseDecreaseInDistributionsPayable
-825000
CY2013Q2 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2013-07-11
CY2013Q2 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2013-07-01
CY2013Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-200000
CY2013Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
800000
CY2013Q2 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
203200000
CY2013Q2 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
147264000
CY2012 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
9000
CY2012 us-gaap Derivative Loss On Derivative
DerivativeLossOnDerivative
239000
CY2013Q2 us-gaap Profit Loss
ProfitLoss
8315000
CY2013Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
769000
CY2013Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
192183000
CY2013Q2 us-gaap Stockholders Equity Other
StockholdersEquityOther
37636000
CY2013Q2 us-gaap Dividends
Dividends
2578000
CY2012Q2 us-gaap Revenues
Revenues
25992000
CY2012Q2 us-gaap Gross Profit
GrossProfit
10338000
CY2012Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
-9000
CY2012Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1800000
CY2012Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
11000
CY2012Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
164000
CY2012Q2 us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
20000
CY2012Q2 us-gaap Profit Loss
ProfitLoss
2110000
CY2012Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
125000
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
6152000
CY2012Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
2356000
CY2012Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
15043000
CY2012Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
2099000
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2099000
CY2012Q2 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
13609000
CY2012Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
12383000
CY2012Q2 us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
11501000
CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
954000
CY2012Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
33000
CY2012Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3232000
CY2012Q2 us-gaap Interest Expense
InterestExpense
4217000
CY2012Q2 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
1209000
CY2012Q2 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
4153000
CY2012Q2 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
2944000
CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
19840000
CY2012Q2 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
500000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.08
us-gaap Weighted Average General Partnership Units Outstanding
WeightedAverageGeneralPartnershipUnitsOutstanding
13059000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31664000 shares
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.26
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18605000 shares
us-gaap Revenues
Revenues
37522000
us-gaap Gross Profit
GrossProfit
10372000
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
14200000
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
185000
us-gaap Profit Loss
ProfitLoss
8404000
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
46000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1125000
us-gaap Operating Income Loss
OperatingIncomeLoss
2962000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-776000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
14885000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
8404000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
8193000
us-gaap Net Income Loss
NetIncomeLoss
4886000
us-gaap Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
9460000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
14231000
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
23291000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3429000
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
500000
us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
22503000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2857000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
4020000
us-gaap Interest Expense
InterestExpense
3289000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
533000
us-gaap Real Estate Tax Expense
RealEstateTaxExpense
1248000
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
4647000
us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
3399000
us-gaap Operating Expenses
OperatingExpenses
34560000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-211000

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