$HPP
Hudson Pacific Properties, Inc.

2011 Q3 Form 10-Q Financial Statement

#000148251211000032 Filed on August 12, 2011

View on sec.gov

Income Statement

Concept 2011 Q3 2011 Q2 2010 Q2
Revenue $36.92M $33.41M $11.09M
YoY Change 110.89% 201.32% 2.66%
Cost Of Revenue $18.90M $15.30M $6.300M
YoY Change 114.77% 142.86% 3.28%
Gross Profit $18.00M $18.10M $4.700M
YoY Change 106.9% 285.11% 0.0%
Gross Profit Margin 48.76% 54.18% 42.39%
Selling, General & Admin $2.800M $3.100M $0.00
YoY Change 16.67%
% of Gross Profit 15.56% 17.13% 0.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.04M $10.63M $2.955M
YoY Change 155.64% 259.59% -7.66%
% of Gross Profit 61.31% 58.71% 62.87%
Operating Expenses $13.90M $13.70M $3.000M
YoY Change 110.61% 356.67% 11.11%
Operating Profit $4.129M $4.415M $1.774M
YoY Change 103.6% 148.87% -11.3%
Interest Expense $4.073M $4.530M $2.331M
YoY Change 128.31% 94.34% -211.0%
% of Operating Profit 98.64% 102.6% 131.4%
Other Income/Expense, Net -$100.0K -$100.0K $0.00
YoY Change
Pretax Income -$800.0K -$200.0K -$2.800M
YoY Change -92.86% 2700.0%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.672M -$2.101M -$2.563M
YoY Change 1453.49% -18.03% 2463.0%
Net Earnings / Revenue -7.24% -6.29% -23.12%
Basic Earnings Per Share
Diluted Earnings Per Share -$21.86K -$6.849K -$132.1K
COMMON SHARES
Basic Shares Outstanding 33.57M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2011 Q3 2011 Q2 2010 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.70M $86.90M $84.50M
YoY Change -49.14% 2.84%
Cash & Equivalents $13.71M $86.89M $84.51M
Short-Term Investments
Other Short-Term Assets $9.200M $5.600M $10.00M
YoY Change 104.44% -44.0%
Inventory
Prepaid Expenses
Receivables $10.80M $11.40M $1.700M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $40.70M $103.9M $96.20M
YoY Change -16.08% 8.0%
LONG-TERM ASSETS
Property, Plant & Equipment $912.3M $829.3M $487.9M
YoY Change 76.87% 69.97%
Goodwill $8.754M $8.754M
YoY Change
Intangibles $78.94M $77.03M
YoY Change
Long-Term Investments
YoY Change
Other Assets $23.50M $22.20M $6.600M
YoY Change 104.35% 236.36%
Total Long-Term Assets $1.024B $937.9M $525.6M
YoY Change 77.9% 78.44%
TOTAL ASSETS
Total Short-Term Assets $40.70M $103.9M $96.20M
Total Long-Term Assets $1.024B $937.9M $525.6M
Total Assets $1.064B $1.042B $621.8M
YoY Change 70.6% 67.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.80M $12.50M $5.900M
YoY Change 75.7% 111.86%
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 $24.50M $17.90M $9.900M
YoY Change 63.33% 80.81%
LONG-TERM LIABILITIES
Long-Term Debt $298.7M $275.0M $94.00M
YoY Change 217.43% 192.55%
Other Long-Term Liabilities $44.20M $44.20M $34.50M
YoY Change 31.55% 28.12%
Total Long-Term Liabilities $342.9M $319.2M $128.5M
YoY Change 168.52% 148.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.50M $17.90M $9.900M
Total Long-Term Liabilities $342.9M $319.2M $128.5M
Total Liabilities $354.9M $324.7M $204.7M
YoY Change 69.8% 58.61%
SHAREHOLDERS EQUITY
Retained Earnings -$10.59M -$7.969M
YoY Change
Common Stock $336.0K $336.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $633.1M $640.1M $417.1M
YoY Change
Total Liabilities & Shareholders Equity $1.064B $1.042B $621.8M
YoY Change 70.6% 67.55%

Cashflow Statement

Concept 2011 Q3 2011 Q2 2010 Q2
OPERATING ACTIVITIES
Net Income -$2.672M -$2.101M -$2.563M
YoY Change 1453.49% -18.03% 2463.0%
Depreciation, Depletion And Amortization $11.04M $10.63M $2.955M
YoY Change 155.64% 259.59% -7.66%
Cash From Operating Activities $13.60M $2.900M $0.00
YoY Change 700.0% -100.0%
INVESTING ACTIVITIES
Capital Expenditures -$60.60M -$3.000M -$10.70M
YoY Change 38.36% -71.96% 174.36%
Acquisitions
YoY Change
Other Investing Activities -$1.500M -$1.600M $0.00
YoY Change
Cash From Investing Activities -$62.20M -$4.500M -$10.70M
YoY Change 42.01% -57.94% 174.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.70M 50.30M 89.00M
YoY Change -43.48% 44400.0%
NET CHANGE
Cash From Operating Activities 13.60M 2.900M 0.000
Cash From Investing Activities -62.20M -4.500M -10.70M
Cash From Financing Activities -17.70M 50.30M 89.00M
Net Change In Cash -66.30M 48.70M 78.30M
YoY Change 57.48% -37.8% -1920.93%
FREE CASH FLOW
Cash From Operating Activities $13.60M $2.900M $0.00
Capital Expenditures -$60.60M -$3.000M -$10.70M
Free Cash Flow $74.20M $5.900M $10.70M
YoY Change 63.08% -44.86% 224.24%

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us-gaap Real Estate Revenue Net
RealEstateRevenueNet
68211000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
158189000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
311030000 USD
CY2011Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
8184000 USD
CY2010Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4121000 USD
CY2011Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-7969000 USD
CY2010Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3482000 USD
CY2011Q2 us-gaap Security Deposit Liability
SecurityDepositLiability
5443000 USD
CY2010Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
5052000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
0 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1313000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
495846000 USD
CY2011Q2 us-gaap Stockholders Equity
StockholdersEquity
640145000 USD
CY2010Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
561530000 USD
CY2011Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
704646000 USD
hpp Amortization Of Ground Lease
AmortizationOfGroundLease
0 USD
CY2010Q4 us-gaap Tenant Improvements
TenantImprovements
47478000 USD
CY2011Q2 us-gaap Tenant Improvements
TenantImprovements
51398000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
347000 USD
hpp Accounts Payable And Accrued Liabilities For Investment In Property
AccountsPayableAndAccruedLiabilitiesForInvestmentInProperty
1966000 USD
hpp Accounts Payable And Accrued Liabilities For Investment In Property
AccountsPayableAndAccruedLiabilitiesForInvestmentInProperty
709000 USD
hpp Amortization Of Above Market Leases
AmortizationOfAboveMarketLeases
242000 USD
hpp Amortization Of Above Market Leases
AmortizationOfAboveMarketLeases
1687000 USD
hpp Amortization Of Below Market Leases
AmortizationOfBelowMarketLeases
-1901000 USD
hpp Amortization Of Below Market Leases
AmortizationOfBelowMarketLeases
-440000 USD
hpp Amortization Of Ground Lease
AmortizationOfGroundLease
142000 USD
CY2010Q2 hpp Other Income Expense
OtherIncomeExpense
-4621000 USD
hpp Other Income Expense
OtherIncomeExpense
-9376000 USD
CY2011Q2 hpp Other Income Expense
OtherIncomeExpense
-4625000 USD
hpp Other Income Expense
OtherIncomeExpense
-6493000 USD
hpp Payment Of Other Stock Issuance Costs
PaymentOfOtherStockIssuanceCosts
0 USD
hpp Payment Of Other Stock Issuance Costs
PaymentOfOtherStockIssuanceCosts
600000 USD
hpp Payments Of Deferred Leasing Costs And Lease Intangibles
PaymentsOfDeferredLeasingCostsAndLeaseIntangibles
1667000 USD
hpp Payments Of Deferred Leasing Costs And Lease Intangibles
PaymentsOfDeferredLeasingCostsAndLeaseIntangibles
0 USD
CY2010 hpp Series B Cumulative Redeemable Preferred Stock Dividend Rate Percentage
SeriesBCumulativeRedeemablePreferredStockDividendRatePercentage
0.08375
hpp Series B Cumulative Redeemable Preferred Stock Dividend Rate Percentage
SeriesBCumulativeRedeemablePreferredStockDividendRatePercentage
0.08375
CY2010Q4 hpp Series B Cumulative Redeemable Preferred Stock Liquidation Preference Per Share
SeriesBCumulativeRedeemablePreferredStockLiquidationPreferencePerShare
25
CY2011Q2 hpp Series B Cumulative Redeemable Preferred Stock Liquidation Preference Per Share
SeriesBCumulativeRedeemablePreferredStockLiquidationPreferencePerShare
25
CY2011Q2 hpp Series B Cumulative Redeemable Preferred Stock Par Value Per Share
SeriesBCumulativeRedeemablePreferredStockParValuePerShare
0.01
CY2010Q4 hpp Series B Cumulative Redeemable Preferred Stock Par Value Per Share
SeriesBCumulativeRedeemablePreferredStockParValuePerShare
0.01
CY2010Q4 hpp Series B Cumulative Redeemable Preferred Stock Shares Authorized
SeriesBCumulativeRedeemablePreferredStockSharesAuthorized
10000000 shares
CY2011Q2 hpp Series B Cumulative Redeemable Preferred Stock Shares Authorized
SeriesBCumulativeRedeemablePreferredStockSharesAuthorized
10000000 shares
CY2010Q4 hpp Series B Cumulative Redeemable Preferred Stock Shares Outstanding
SeriesBCumulativeRedeemablePreferredStockSharesOutstanding
3500000 shares
dei Entity Registrant Name
EntityRegistrantName
Hudson Pacific Properties, Inc.
CY2011Q2 hpp Series B Cumulative Redeemable Preferred Stock Shares Outstanding
SeriesBCumulativeRedeemablePreferredStockSharesOutstanding
3500000 shares
CY2010Q4 hpp Series B Cumulative Redeemable Preferred Stock Value Issued
SeriesBCumulativeRedeemablePreferredStockValueIssued
87500000 USD
CY2011Q2 hpp Series B Cumulative Redeemable Preferred Stock Value Issued
SeriesBCumulativeRedeemablePreferredStockValueIssued
87500000 USD
CY2010 hpp Temporary Equity Dividend Rate Percentage
TemporaryEquityDividendRatePercentage
0.06250
hpp Temporary Equity Dividend Rate Percentage
TemporaryEquityDividendRatePercentage
0.06250
CY2010Q2 hpp Weighted Average Number Shares Outstanding Basic And Diluted
WeightedAverageNumberSharesOutstandingBasicAndDiluted
0 shares
hpp Weighted Average Number Shares Outstanding Basic And Diluted
WeightedAverageNumberSharesOutstandingBasicAndDiluted
25575051000 shares
CY2011Q2 hpp Weighted Average Number Shares Outstanding Basic And Diluted
WeightedAverageNumberSharesOutstandingBasicAndDiluted
29161139000 shares
hpp Weighted Average Number Shares Outstanding Basic And Diluted
WeightedAverageNumberSharesOutstandingBasicAndDiluted
0 shares
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2011
dei Document Period End Date
DocumentPeriodEndDate
2011-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001482512
CY2011Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
33572454 shares
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer

Files In Submission

Name View Source Status
0001482512-11-000032-index-headers.html Edgar Link pending
0001482512-11-000032-index.html Edgar Link pending
0001482512-11-000032.txt Edgar Link pending
0001482512-11-000032-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
hpp-20110630.xml Edgar Link completed
hpp-20110630.xsd Edgar Link pending
hpp-20110630_cal.xml Edgar Link unprocessable
hpp-20110630_def.xml Edgar Link unprocessable
hpp-20110630_lab.xml Edgar Link unprocessable
hpp-20110630_pre.xml Edgar Link unprocessable
hpp201163010q.htm Edgar Link pending
hpp2011630ex311.htm Edgar Link pending
hpp2011630ex312.htm Edgar Link pending
hpp2011630ex32.htm Edgar Link pending
R1.htm Edgar Link pending
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