2012 Q4 Form 10-Q Financial Statement

#000119312512449807 Filed on November 05, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $81.22M $76.64M $78.25M
YoY Change 2.52% -2.07% -4.8%
Cost Of Revenue $24.20M $24.40M $24.00M
YoY Change 28.04% 1.67% -12.09%
Gross Profit $51.10M $54.20M $52.00M
YoY Change 16.4% 4.23% -5.28%
Gross Profit Margin 62.92% 70.72% 66.45%
Selling, General & Admin $8.700M $4.800M $5.000M
YoY Change 55.36% -4.0% 2.04%
% of Gross Profit 17.03% 8.86% 9.62%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $35.40M $31.90M $36.00M
YoY Change 1.43% -11.39% -4.0%
% of Gross Profit 69.28% 58.86% 69.23%
Operating Expenses $34.20M $33.40M $37.10M
YoY Change 2.4% -9.97% -4.63%
Operating Profit $16.90M $20.80M $14.90M
YoY Change 60.95% 39.6% -6.87%
Interest Expense -$18.40M $20.13M $24.45M
YoY Change -20.35% -17.67% -194.02%
% of Operating Profit -108.88% 96.76% 164.07%
Other Income/Expense, Net -$20.79M
YoY Change
Pretax Income -$4.600M $0.00 -$12.37M
YoY Change -60.34% -100.0% -86.06%
Income Tax $300.0K -$5.000K -$36.00K
% Of Pretax Income
Net Earnings -$1.971M $8.919M -$3.990M
YoY Change -2594.94% -323.53% -97.33%
Net Earnings / Revenue -2.43% 11.64% -5.1%
Basic Earnings Per Share
Diluted Earnings Per Share -$20.45K $95.19K -$42.92K
COMMON SHARES
Basic Shares Outstanding 98.37M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.900M $2.800M $47.90M
YoY Change -51.96% -94.15% -61.4%
Cash & Equivalents $4.938M $2.808M $47.91M
Short-Term Investments
Other Short-Term Assets $102.9M $106.2M $114.8M
YoY Change -16.61% -7.49% -14.58%
Inventory
Prepaid Expenses
Receivables $4.600M $2.000M $3.500M
Other Receivables $54.60M $53.50M $46.30M
Total Short-Term Assets $167.0M $164.5M $212.5M
YoY Change -10.55% -22.59% -30.67%
LONG-TERM ASSETS
Property, Plant & Equipment $2.396B $2.398B $2.433B
YoY Change -1.21% -1.45% -3.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.000M $1.200M $1.500M
YoY Change -41.18% -20.0% -51.61%
Other Assets $12.00M $13.10M $13.40M
YoY Change -21.05% -2.24% -4.29%
Total Long-Term Assets $2.442B $2.447B $2.487B
YoY Change -1.54% -1.62% -3.47%
TOTAL ASSETS
Total Short-Term Assets $167.0M $164.5M $212.5M
Total Long-Term Assets $2.442B $2.447B $2.487B
Total Assets $2.609B $2.611B $2.700B
YoY Change -2.17% -3.27% -6.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $80.60M $74.50M $66.30M
YoY Change 12.73% 12.37% -5.42%
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 $81.10M $74.50M $66.30M
YoY Change 13.43% 12.37% -5.42%
LONG-TERM LIABILITIES
Long-Term Debt $1.336B $1.297B $1.514B
YoY Change -9.71% -14.33% -19.73%
Other Long-Term Liabilities $46.30M $40.20M $44.00M
YoY Change 7.42% -8.64% -4.97%
Total Long-Term Liabilities $1.382B $1.337B $1.558B
YoY Change -9.23% -14.17% -19.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $81.10M $74.50M $66.30M
Total Long-Term Liabilities $1.382B $1.337B $1.558B
Total Liabilities $1.463B $1.412B $1.671B
YoY Change -8.21% -15.5% -18.52%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.031M $1.027M
YoY Change 13.17%
Preferred Stock
YoY Change
Treasury Stock (at cost) $140.0M $140.0M
YoY Change 0.0%
Treasury Stock Shares 4.324M shares 4.324M shares
Shareholders Equity $1.103B $1.155B $1.029B
YoY Change
Total Liabilities & Shareholders Equity $2.609B $2.611B $2.700B
YoY Change -2.17% -3.27% -6.36%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income -$1.971M $8.919M -$3.990M
YoY Change -2594.94% -323.53% -97.33%
Depreciation, Depletion And Amortization $35.40M $31.90M $36.00M
YoY Change 1.43% -11.39% -4.0%
Cash From Operating Activities $45.60M $30.50M $26.30M
YoY Change 94.87% 15.97% 2.33%
INVESTING ACTIVITIES
Capital Expenditures -$25.70M -$19.20M -$23.00M
YoY Change -12.88% -16.52% 11.65%
Acquisitions
YoY Change
Other Investing Activities $4.500M $60.80M $41.90M
YoY Change -26.23% 45.11% 175.66%
Cash From Investing Activities -$21.20M $41.60M $19.00M
YoY Change -9.79% 118.95% -451.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -22.30M -74.30M -31.70M
YoY Change -41.01% 134.38% -280.11%
NET CHANGE
Cash From Operating Activities 45.60M 30.50M 26.30M
Cash From Investing Activities -21.20M 41.60M 19.00M
Cash From Financing Activities -22.30M -74.30M -31.70M
Net Change In Cash 2.100M -2.200M 13.60M
YoY Change -105.54% -116.18% -64.12%
FREE CASH FLOW
Cash From Operating Activities $45.60M $30.50M $26.30M
Capital Expenditures -$25.70M -$19.20M -$23.00M
Free Cash Flow $71.30M $49.70M $49.30M
YoY Change 34.78% 0.81% 6.48%

Facts In Submission

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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
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dei Document Type
DocumentType
10-Q
dei Document Period End Date
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2012-09-30
dei Entity Central Index Key
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dei Current Fiscal Year End Date
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dei Trading Symbol
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dei Entity Registrant Name
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First Industrial Realty Trust Inc.
dei Amendment Flag
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dei Entity Filer Category
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CY2011Q3 us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
531000
CY2011Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentRealizedUponSaleOrLiquidationNetOfTax
179000
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
-3990000
CY2011Q3 us-gaap Costs And Expenses
CostsAndExpenses
65215000
CY2011Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-551000
CY2011Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-11559000
CY2011Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2011Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
4928000
CY2011Q3 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
-950000
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ComprehensiveIncomeNetOfTax
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CY2011Q3 us-gaap Gain Loss On Sale Of Properties Before Applicable Income Taxes
GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes
1370000
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DisposalGroupIncludingDiscontinuedOperationRevenue
4271000
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
350000
CY2011Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-332000
CY2011Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-36000
CY2011Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
79251000
CY2011Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-547000
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.07
CY2011Q3 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
1640000
CY2011Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
772000
CY2011Q3 us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
26682000
CY2011Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2011Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
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CY2011Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-4446000
CY2011Q3 us-gaap Interest Expense
InterestExpense
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CY2011Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-345000
CY2011Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1075000
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
6104000
CY2011Q3 fr Net Income Available To Common Shareholders Basic Excluding Participating Securities
NetIncomeAvailableToCommonShareholdersBasicExcludingParticipatingSecurities
-8918000
CY2011Q3 fr Net Income Loss From Continuing Operations Available To Common Stockholders Basic And Diluted
NetIncomeLossFromContinuingOperationsAvailableToCommonStockholdersBasicAndDiluted
-14672000
CY2011Q3 fr Noncontrolling Interest Allocable To Gain On Sale Of Real Estate
NoncontrollingInterestAllocableToGainOnSaleOfRealEstate
53000
CY2011Q3 fr Fees Received From Joint Ventures
FeesReceivedFromJointVentures
113000
CY2011Q3 fr Impairment Of Real Estate Net
ImpairmentOfRealEstateNet
2520000
CY2011Q3 fr Impairment Of Real Estate Other Net
ImpairmentOfRealEstateOtherNet
1133000
CY2011Q3 fr Disposal Group Including Discontinued Depreciation And Amortization
DisposalGroupIncludingDiscontinuedDepreciationAndAmortization
1150000
CY2011Q3 fr Disposal Group Including Discontinued Operations Impairment
DisposalGroupIncludingDiscontinuedOperationsImpairment
1387000
CY2011Q3 fr Unrealized Mark To Market Loss On Interest Rate Protection Agreement
UnrealizedMarkToMarketLossOnInterestRateProtectionAgreement
1372000
CY2011Q3 fr Other Income And Expense
OtherIncomeAndExpense
-26403000
CY2011Q3 fr Other Comprehensive Income Write Off Of Unamortized Settlement Amounts Of Interest Rate Protection Agreements Net
OtherComprehensiveIncomeWriteOffOfUnamortizedSettlementAmountsOfInterestRateProtectionAgreementsNet
541000
CY2011Q3 fr Tenant Reimbursements And Other Income
TenantReimbursementsAndOtherIncome
18291000
CY2011Q3 fr Settlement Payments Of Mark To Market Gains Or Losses
SettlementPaymentsOfMarkToMarketGainsOrLosses
106000
CY2012Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-29000
CY2012Q3 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
5419000
CY2012Q3 us-gaap Profit Loss
ProfitLoss
9196000
CY2012Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.04
CY2012Q3 us-gaap Discontinued Operation Gain Loss From Disposal Of Discontinued Operation Before Income Tax
DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax
4420000
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
656000
CY2012Q3 us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
3777000
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
5123000
CY2012Q3 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2022-09-01
CY2012Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
54000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-40000
CY2012Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.01
CY2012Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
93488000 shares
CY2012Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
3763000
CY2012Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
29425000
CY2012Q3 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
63256000
CY2012Q3 us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
579000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
8919000
CY2012Q3 us-gaap Costs And Expenses
CostsAndExpenses
60232000
CY2012Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
304000
CY2012Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-7000
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
9525000
CY2012Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
277000
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.05
CY2012Q3 us-gaap Disposal Group Including Discontinued Operation Operating Expense
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635000
CY2012Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4843000
CY2012Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
4725000
CY2012Q3 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
-181000
CY2012Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
28000
CY2012Q3 us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
25964000
CY2012Q3 us-gaap Gain Loss On Sale Of Properties Before Applicable Income Taxes
GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes
3777000
CY2012Q3 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
1778000
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
270000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-5000
CY2012Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
80984000
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4194000
CY2012Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax
1006000
CY2012Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
9829000
CY2012Q3 us-gaap Interest Expense
InterestExpense
20127000
CY2012Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-424000
CY2012Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
868000
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
5426000
CY2012Q3 fr Net Income Available To Common Shareholders Basic Excluding Participating Securities
NetIncomeAvailableToCommonShareholdersBasicExcludingParticipatingSecurities
4161000
CY2012Q3 fr Net Income Allocable To Participating Securities
NetIncomeAllocableToParticipatingSecurities
-33000
CY2012Q3 fr Debt Instrument Amortization Period
DebtInstrumentAmortizationPeriod
P30Y
CY2012Q3 fr Debt Instrument Origination Date
DebtInstrumentOriginationDate
2012-08-29
CY2012Q3 fr Number Of Industrial Properties Collateralizing Mortgage
NumberOfIndustrialPropertiesCollateralizingMortgage
31 Property
CY2012Q3 fr Net Income Loss From Continuing Operations Available To Common Stockholders Basic And Diluted
NetIncomeLossFromContinuingOperationsAvailableToCommonStockholdersBasicAndDiluted
-962000
CY2012Q3 fr Noncontrolling Interest Allocable To Gain On Sale Of Real Estate
NoncontrollingInterestAllocableToGainOnSaleOfRealEstate
188000
CY2012Q3 fr Fees Received From Joint Ventures
FeesReceivedFromJointVentures
295000
CY2012Q3 fr Impairment Of Real Estate Net
ImpairmentOfRealEstateNet
CY2012Q3 fr Disposal Group Including Discontinued Depreciation And Amortization
DisposalGroupIncludingDiscontinuedDepreciationAndAmortization
137000
CY2012Q3 fr Unrealized Mark To Market Loss On Interest Rate Protection Agreement
UnrealizedMarkToMarketLossOnInterestRateProtectionAgreement
29000
CY2012Q3 fr Other Income And Expense
OtherIncomeAndExpense
-20792000
CY2012Q3 fr Tenant Reimbursements And Other Income
TenantReimbursementsAndOtherIncome
17728000
CY2012Q3 fr Settlement Payments Of Mark To Market Gains Or Losses
SettlementPaymentsOfMarkToMarketGainsOrLosses
326000
CY2012Q3 fr Gross Leasable Area
GrossLeasableArea
3800000 sqft
CY2012Q3 fr Income From Discontinued Operation Allocable To Participating Securities
IncomeFromDiscontinuedOperationAllocableToParticipatingSecurities
33000

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