2012 Q1 Form 10-K Financial Statement

#000148251212000020 Filed on March 14, 2012

View on sec.gov

Income Statement

Concept 2012 Q1 2011 2010 Q4
Revenue $36.77M $133.7M $21.09M
YoY Change 5.63% 120.52% 98.96%
Cost Of Revenue $15.50M $64.80M $9.200M
YoY Change 0.0% 116.0% 31.43%
Gross Profit $21.30M $68.97M $11.90M
YoY Change 9.79% 125.38% 230.56%
Gross Profit Margin 57.94% 51.57% 56.42%
Selling, General & Admin $4.500M $13.00M $2.100M
YoY Change 45.16% 188.89%
% of Gross Profit 21.13% 18.85% 17.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.13M $41.98M $5.900M
YoY Change 6.79% 163.84% 126.92%
% of Gross Profit 56.96% 60.88% 49.58%
Operating Expenses $16.10M $55.00M $8.000M
YoY Change 11.03% 169.61% 207.69%
Operating Profit $5.459M $13.94M $3.900M
YoY Change 12.7% 36.6% 290.0%
Interest Expense $4.891M $17.48M -$2.600M
YoY Change 5.36% 97.94% 36.84%
% of Operating Profit 89.6% 125.36% -66.67%
Other Income/Expense, Net $0.00 -$400.0K -$200.0K
YoY Change -100.0% 100.0%
Pretax Income $200.0K -$5.600M -$500.0K
YoY Change 100.0% 107.41% -44.44%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$2.638M -$10.43M -$1.185M
YoY Change 5.1% 221.05% 48.13%
Net Earnings / Revenue -7.18% -7.8% -5.62%
Basic Earnings Per Share
Diluted Earnings Per Share $15.02K -$102.0K -$31.96K
COMMON SHARES
Basic Shares Outstanding 34.00M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q1 2011 2010 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.90M $13.70M $48.90M
YoY Change -42.82% -71.98%
Cash & Equivalents $21.86M $13.70M $48.88M
Short-Term Investments
Other Short-Term Assets $13.60M $3.700M $4.400M
YoY Change 231.71% 5.71%
Inventory
Prepaid Expenses
Receivables $8.100M $9.000M $4.500M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $43.60M $26.40M $57.80M
YoY Change -9.92% -53.6%
LONG-TERM ASSETS
Property, Plant & Equipment $1.001B $1.007B $837.6M
YoY Change 20.25% 20.23%
Goodwill $8.754M $8.754M
YoY Change
Intangibles $78.94M $86.39M
YoY Change
Long-Term Investments
YoY Change
Other Assets $27.80M $25.40M $14.00M
YoY Change 26.94% 81.43%
Total Long-Term Assets $1.117B $1.126B $946.8M
YoY Change 18.14% 18.86%
TOTAL ASSETS
Total Short-Term Assets $43.60M $26.40M $57.80M
Total Long-Term Assets $1.117B $1.126B $946.8M
Total Assets $1.161B $1.153B $1.005B
YoY Change 16.77% 14.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.40M $12.50M $11.50M
YoY Change -7.1% 8.7%
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 $20.50M $18.20M $16.60M
YoY Change -0.97% 9.64%
LONG-TERM LIABILITIES
Long-Term Debt $361.1M $399.9M $342.1M
YoY Change 8.7% 16.9%
Other Long-Term Liabilities $40.80M $46.10M $84.40M
YoY Change -52.17% -45.38%
Total Long-Term Liabilities $401.9M $446.0M $426.5M
YoY Change -3.74% 4.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.50M $18.20M $16.60M
Total Long-Term Liabilities $401.9M $446.0M $426.5M
Total Liabilities $410.0M $527.5M $390.2M
YoY Change -18.53% 3.7%
SHAREHOLDERS EQUITY
Retained Earnings -$16.25M -$3.482M
YoY Change
Common Stock $340.0K $224.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $679.0M $625.3M $495.8M
YoY Change
Total Liabilities & Shareholders Equity $1.161B $1.153B $1.005B
YoY Change 16.77% 14.75%

Cashflow Statement

Concept 2012 Q1 2011 2010 Q4
OPERATING ACTIVITIES
Net Income -$2.638M -$10.43M -$1.185M
YoY Change 5.1% 221.05% 48.13%
Depreciation, Depletion And Amortization $12.13M $41.98M $5.900M
YoY Change 6.79% 163.84% 126.92%
Cash From Operating Activities $11.99M $32.08M $4.200M
YoY Change 3.62% 321.08% 90.91%
INVESTING ACTIVITIES
Capital Expenditures -$3.100M -$130.6M -$185.5M
YoY Change -16.22% -46.08% 3335.19%
Acquisitions
YoY Change
Other Investing Activities -$8.900M $0.00 $0.00
YoY Change
Cash From Investing Activities -$11.97M -$130.6M -$185.5M
YoY Change 227.88% -46.07% 3335.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 -$111.0M
YoY Change -52.3%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $8.141M $63.35M 188.2M
YoY Change -143.97% -77.35% 6173.33%
NET CHANGE
Cash From Operating Activities $11.99M $32.08M 4.200M
Cash From Investing Activities -$11.97M -$130.6M -185.5M
Cash From Financing Activities $8.141M $63.35M 188.2M
Net Change In Cash $8.153M -$35.17M 6.900M
YoY Change -176.9% -177.84% -3550.0%
FREE CASH FLOW
Cash From Operating Activities $11.99M $32.08M $4.200M
Capital Expenditures -$3.100M -$130.6M -$185.5M
Free Cash Flow $15.09M $162.7M $189.7M
YoY Change -1.19% -34.88% 2396.05%

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PaymentsOfDividendsPreferredStockAndPreferenceStock
8108000 USD
CY2009 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0 USD
CY2011 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2061000 USD
CY2010 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2009 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2009 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
CY2011 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
114219000 USD
CY2010 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
230527000 USD
CY2011Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
4498000 USD
CY2010 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
20000000 USD
CY2010 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
87500000 USD
CY2010 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
116385000 USD
CY2011 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
365500000 USD
CY2009 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
3924000 USD
CY2010 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-828000 USD
CY2009 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
0 USD
CY2011 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-41131000 USD
CY2011 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
111008000 USD
CY2010 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
232721000 USD
CY2011 us-gaap Profit Loss
ProfitLoss
-3821000 USD
CY2009 us-gaap Profit Loss
ProfitLoss
-644000 USD
CY2010 us-gaap Profit Loss
ProfitLoss
-3219000 USD
CY2009 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
191000 USD
CY2011 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
946000 USD
CY2010 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
36000 USD
CY2010Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
27113000 USD
CY2011Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
53329000 USD
CY2010Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
864735000 USD
CY2011Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1060504000 USD
CY2011Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1007175000 USD
CY2010Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
837622000 USD
CY2009 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
44521000 USD
CY2010 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
60640000 USD
CY2011 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
142189000 USD
CY2009 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2011 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
384958000 USD
CY2010 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
157786000 USD
CY2011Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
9521000 USD
CY2010Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4121000 USD
CY2011 us-gaap Restricted Stock Award Forfeitures
RestrictedStockAwardForfeitures
0 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-13685000 USD
CY2010Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3482000 USD
CY2011Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
5651000 USD
CY2010Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
5052000 USD
CY2011 us-gaap Share Based Compensation
ShareBasedCompensation
2660000 USD
CY2010 us-gaap Share Based Compensation
ShareBasedCompensation
765000 USD
CY2009 us-gaap Share Based Compensation
ShareBasedCompensation
0 USD
CY2010 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
12019000 USD
CY2010 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
CY2010 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
20000000 USD
CY2011 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
45688000 USD
CY2010 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
CY2011 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
CY2010 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1000 USD
CY2011 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
304000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
495846000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
625313000 USD
CY2010Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
561530000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
688669000 USD
CY2008Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
221731000 USD
CY2009Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
226588000 USD
CY2010 hpp Payment Of Other Stock Issuance Costs
PaymentOfOtherStockIssuanceCosts
11241000 USD
CY2011 hpp Payment Of Other Stock Issuance Costs
PaymentOfOtherStockIssuanceCosts
600000 USD
CY2010Q4 us-gaap Tenant Improvements
TenantImprovements
47478000 USD
CY2011Q4 us-gaap Tenant Improvements
TenantImprovements
69021000 USD
CY2011 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
CY2010 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
347000 USD
CY2009 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
399000 USD
CY2011 hpp Accounts Payable And Accrued Liabilities For Investment In Property
AccountsPayableAndAccruedLiabilitiesForInvestmentInProperty
1701000 USD
CY2010 hpp Accounts Payable And Accrued Liabilities For Investment In Property
AccountsPayableAndAccruedLiabilitiesForInvestmentInProperty
3477000 USD
CY2009 hpp Accounts Payable And Accrued Liabilities For Investment In Property
AccountsPayableAndAccruedLiabilitiesForInvestmentInProperty
5692000 USD
CY2011 hpp Amortization Of Above Market Leases
AmortizationOfAboveMarketLeases
3312000 USD
CY2010 hpp Amortization Of Above Market Leases
AmortizationOfAboveMarketLeases
1119000 USD
CY2009 hpp Amortization Of Above Market Leases
AmortizationOfAboveMarketLeases
672000 USD
CY2009 hpp Amortization Of Below Market Leases
AmortizationOfBelowMarketLeases
-1096000 USD
CY2011 hpp Amortization Of Below Market Leases
AmortizationOfBelowMarketLeases
-3961000 USD
CY2010 hpp Amortization Of Below Market Leases
AmortizationOfBelowMarketLeases
-1186000 USD
CY2011 hpp Amortization Of Ground Lease
AmortizationOfGroundLease
266000 USD
CY2009 hpp Amortization Of Ground Lease
AmortizationOfGroundLease
0 USD
CY2010 hpp Amortization Of Ground Lease
AmortizationOfGroundLease
63000 USD
CY2009 hpp Net Income Loss Including Portion Attributable To Noncontrolling Interest And Redeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNoncontrollingInterestAndRedeemableNoncontrollingInterest
-644000 USD
CY2011 hpp Net Income Loss Including Portion Attributable To Noncontrolling Interest And Redeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNoncontrollingInterestAndRedeemableNoncontrollingInterest
-2238000 USD
CY2010 hpp Net Income Loss Including Portion Attributable To Noncontrolling Interest And Redeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNoncontrollingInterestAndRedeemableNoncontrollingInterest
-2682000 USD
CY2010 hpp Other Income Expense
OtherIncomeExpense
-12890000 USD
CY2009 hpp Other Income Expense
OtherIncomeExpense
-8470000 USD
CY2011 hpp Other Income Expense
OtherIncomeExpense
-19543000 USD
CY2009 hpp Payment Of Other Stock Issuance Costs
PaymentOfOtherStockIssuanceCosts
0 USD
CY2009 hpp Payments Of Deferred Leasing Costs And Lease Intangibles
PaymentsOfDeferredLeasingCostsAndLeaseIntangibles
5032000 USD
CY2010 hpp Payments Of Deferred Leasing Costs And Lease Intangibles
PaymentsOfDeferredLeasingCostsAndLeaseIntangibles
1309000 USD
CY2011 hpp Payments Of Deferred Leasing Costs And Lease Intangibles
PaymentsOfDeferredLeasingCostsAndLeaseIntangibles
4188000 USD
CY2010 hpp Series B Cumulative Redeemable Preferred Stock Dividend Rate Percentage
SeriesBCumulativeRedeemablePreferredStockDividendRatePercentage
0.08375
CY2011 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
CY2011Q4 hpp Series B Cumulative Redeemable Preferred Stock Liquidation Preference Per Share
SeriesBCumulativeRedeemablePreferredStockLiquidationPreferencePerShare
25
CY2011Q4 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
CY2011Q4 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
CY2011Q4 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
CY2011 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2011 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2011Q2 dei Entity Public Float
EntityPublicFloat
351600000000 USD
CY2011 dei Entity Registrant Name
EntityRegistrantName
Hudson Pacific Properties, Inc.
CY2011 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2011 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2011Q4 hpp Series B Cumulative Redeemable Preferred Stock Value Issued
SeriesBCumulativeRedeemablePreferredStockValueIssued
87500000 USD
CY2010 hpp Temporary Equity Dividend Rate Percentage
TemporaryEquityDividendRatePercentage
0.06250
CY2011 hpp Temporary Equity Dividend Rate Percentage
TemporaryEquityDividendRatePercentage
0.06250
CY2011 hpp Weighted Average Number Shares Outstanding Basic And Diluted
WeightedAverageNumberSharesOutstandingBasicAndDiluted
29392920000 shares
CY2011 dei Amendment Flag
AmendmentFlag
false
CY2011 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2011 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2011 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2011
CY2011 dei Document Period End Date
DocumentPeriodEndDate
2011-12-31
CY2011 dei Document Type
DocumentType
10-K
CY2011 dei Entity Central Index Key
EntityCentralIndexKey
0001482512
CY2012Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
33998498 shares

Files In Submission

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0001482512-12-000020-index-headers.html Edgar Link pending
0001482512-12-000020-index.html Edgar Link pending
0001482512-12-000020.txt Edgar Link pending
0001482512-12-000020-xbrl.zip Edgar Link pending
a2011stockgraph.jpg Edgar Link pending
ex10551.htm Edgar Link pending
ex21.htm Edgar Link pending
ex231.htm Edgar Link pending
exhibit121.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
hpp-20111231.xml Edgar Link completed
hpp-20111231.xsd Edgar Link pending
hpp-20111231_cal.xml Edgar Link unprocessable
hpp-20111231_def.xml Edgar Link unprocessable
hpp-20111231_lab.xml Edgar Link unprocessable
hpp-20111231_pre.xml Edgar Link unprocessable
hpp201110k.htm Edgar Link pending
hpp20111231ex311.htm Edgar Link pending
hpp20111231ex312.htm Edgar Link pending
hpp20111231ex32.htm Edgar Link pending
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