2018 Q1 Form 10-Q Financial Statement

#000136060418000046 Filed on April 30, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $175.7M $124.3M
YoY Change 41.27% 15.87%
Cost Of Revenue $41.80M $37.90M
YoY Change 10.29% 7.06%
Gross Profit $70.30M $66.80M
YoY Change 5.24% 3.41%
Gross Profit Margin 40.02% 53.72%
Selling, General & Admin $9.100M $8.800M
YoY Change 3.41% -13.73%
% of Gross Profit 12.94% 13.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.60M $34.50M
YoY Change 14.78% 10.58%
% of Gross Profit 56.33% 51.65%
Operating Expenses $48.70M $43.20M
YoY Change 12.73% 6.4%
Operating Profit $35.66M $29.56M
YoY Change 20.63% 7.32%
Interest Expense $26.25M -$14.20M
YoY Change -284.88% -4.7%
% of Operating Profit 73.61% -48.03%
Other Income/Expense, Net $35.00K $8.000K
YoY Change 337.5% -84.91%
Pretax Income $9.200M $31.80M
YoY Change -71.07% 245.65%
Income Tax
% Of Pretax Income
Net Earnings $9.802M $13.55M
YoY Change -27.63% 37.37%
Net Earnings / Revenue 5.58% 10.89%
Basic Earnings Per Share $0.05 $0.10
Diluted Earnings Per Share $0.05 $0.09
COMMON SHARES
Basic Shares Outstanding 205.1M shares 141.8M shares
Diluted Shares Outstanding 209.2M shares 146.1M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.800M $1.500M
YoY Change 153.33% -31.82%
Cash & Equivalents $56.24M $16.03M
Short-Term Investments
Other Short-Term Assets $57.00M $59.00M
YoY Change -3.39% 73.53%
Inventory
Prepaid Expenses
Receivables $12.00M $9.000M
Other Receivables $99.00M $85.00M
Total Short-Term Assets $3.800M $1.500M
YoY Change 153.33% -31.82%
LONG-TERM ASSETS
Property, Plant & Equipment $2.923B $2.726B
YoY Change 7.24% 2.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $69.15M
YoY Change
Other Assets $36.10M $120.0M
YoY Change -69.92% 17042.86%
Total Long-Term Assets $6.356B $3.752B
YoY Change 69.43% 13.4%
TOTAL ASSETS
Total Short-Term Assets $3.800M $1.500M
Total Long-Term Assets $6.356B $3.752B
Total Assets $6.360B $3.753B
YoY Change 69.46% 13.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $62.30M $62.70M
YoY Change -0.64% -5.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $62.30M $62.70M
YoY Change -0.64% -5.0%
LONG-TERM LIABILITIES
Long-Term Debt $1.307B $1.279B
YoY Change 2.21% -9.84%
Other Long-Term Liabilities $49.60M $44.50M
YoY Change 11.46% -30.79%
Total Long-Term Liabilities $1.357B $1.323B
YoY Change 2.52% -10.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $62.30M $62.70M
Total Long-Term Liabilities $1.357B $1.323B
Total Liabilities $3.042B $1.999B
YoY Change 52.2% 8.79%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $4.514B $2.756B
YoY Change 63.8% 13.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.230B $1.657B
YoY Change
Total Liabilities & Shareholders Equity $6.360B $3.753B
YoY Change 69.46% 13.37%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $9.802M $13.55M
YoY Change -27.63% 37.37%
Depreciation, Depletion And Amortization $39.60M $34.50M
YoY Change 14.78% 10.58%
Cash From Operating Activities $60.88M $47.01M
YoY Change 29.5% 16.22%
INVESTING ACTIVITIES
Capital Expenditures -$18.50M -$33.10M
YoY Change -44.11% -32.17%
Acquisitions
YoY Change
Other Investing Activities -$7.600M $76.90M
YoY Change -109.88% -1061.25%
Cash From Investing Activities -$42.37M -$42.85M
YoY Change -1.14% -74.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.709M $3.118M
YoY Change -13.12% -103.47%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$68.14M -$5.127M
YoY Change 1228.94% -103.99%
NET CHANGE
Cash From Operating Activities $60.88M $47.01M
Cash From Investing Activities -$42.37M -$42.85M
Cash From Financing Activities -$68.14M -$5.127M
Net Change In Cash -$49.62M -$968.0K
YoY Change 5026.24% -227.87%
FREE CASH FLOW
Cash From Operating Activities $60.88M $47.01M
Capital Expenditures -$18.50M -$33.10M
Free Cash Flow $79.38M $80.11M
YoY Change -0.91% -10.24%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization and Description of Business </font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HTA, a Maryland corporation, and </font><font style="font-family:inherit;font-size:10pt;">HTALP</font><font style="font-family:inherit;font-size:10pt;">, a Delaware limited partnership, were incorporated or formed, as applicable, on </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">April&#160;20, 2006</font><font style="font-family:inherit;font-size:10pt;">. HTA operates as a REIT and is the general partner of </font><font style="font-family:inherit;font-size:10pt;">HTALP</font><font style="font-family:inherit;font-size:10pt;">, which is the operating partnership, in an umbrella partnership, or &#8220;UPREIT&#8221; structure. HTA has qualified and intends to continue to be taxed as a REIT for federal income tax purposes under the applicable sections of the Internal Revenue Code. </font></div><div style="line-height:120%;padding-top:7px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We own real estate primarily consisting of medical office buildings (&#8220;MOBs&#8221;) located on or adjacent to hospital campuses or in off-campus, community core outpatient locations across </font><font style="font-family:inherit;font-size:10pt;">33</font><font style="font-family:inherit;font-size:10pt;"> states within the United States, and we lease space to tenants primarily consisting of health systems, research and academic institutions, and various sized physician practices.&#160; We generate substantially all of our revenues from rents and rental-related activities, such as property and facilities management and other incidental revenues related to the operation of real estate.&#160; </font></div><div style="line-height:120%;padding-top:7px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our primary objective is to maximize stockholder value with growth through strategic investments that provide an attractive risk-adjusted return for our stockholders by consistently increasing our cash flow. In pursuing this objective, we: (i) seek internal growth through proactive asset management, leasing, building services and property management oversight; (ii) target accretive acquisitions and developments of MOBs in markets with attractive demographics that complement our existing portfolio; and (iii) actively manage our balance sheet to maintain flexibility with conservative leverage. Additionally, from time to time we consider, on an opportunistic basis, significant portfolio acquisitions that we believe fit our core business and we expect to enhance our existing portfolio.</font></div></div>

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