2018 Q2 Form 10-Q Financial Statement

#000136060418000091 Filed on August 03, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $173.3M $139.9M
YoY Change 23.92% 23.53%
Cost Of Revenue $41.70M $38.20M
YoY Change 9.16% 5.23%
Gross Profit $69.90M $67.10M
YoY Change 4.17% 1.05%
Gross Profit Margin 40.33% 47.97%
Selling, General & Admin $8.500M $8.100M
YoY Change 4.94% -1.22%
% of Gross Profit 12.16% 12.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.10M $37.00M
YoY Change 8.38% 15.26%
% of Gross Profit 57.37% 55.14%
Operating Expenses $48.70M $42.90M
YoY Change 13.52% 8.61%
Operating Profit $41.55M $22.37M
YoY Change 85.8% -8.94%
Interest Expense $26.31M -$14.30M
YoY Change -283.95% -2.72%
% of Operating Profit 63.3% -63.94%
Other Income/Expense, Net $5.000K $6.000K
YoY Change -16.67% -91.67%
Pretax Income $37.70M $25.20M
YoY Change 49.6% 106.56%
Income Tax
% Of Pretax Income
Net Earnings $15.35M -$5.918M
YoY Change -359.31% -145.27%
Net Earnings / Revenue 8.85% -4.23%
Basic Earnings Per Share $0.07 -$0.03
Diluted Earnings Per Share $0.07 -$0.03
COMMON SHARES
Basic Shares Outstanding 205.2M shares 176.5M shares
Diluted Shares Outstanding 209.3M shares 176.5M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.400M $2.000M
YoY Change 270.0% -77.78%
Cash & Equivalents $26.19M $91.44M
Short-Term Investments
Other Short-Term Assets $54.00M $54.00M
YoY Change 0.0% 58.82%
Inventory
Prepaid Expenses
Receivables $17.00M $11.00M
Other Receivables $108.0M $83.00M
Total Short-Term Assets $7.400M $2.000M
YoY Change 270.0% -77.78%
LONG-TERM ASSETS
Property, Plant & Equipment $2.982B $2.748B
YoY Change 8.54% 2.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $67.87M $68.90M
YoY Change -1.5%
Other Assets $8.800M $17.90M
YoY Change -50.84% 2457.14%
Total Long-Term Assets $6.295B $6.365B
YoY Change -1.1% 80.65%
TOTAL ASSETS
Total Short-Term Assets $7.400M $2.000M
Total Long-Term Assets $6.295B $6.365B
Total Assets $6.302B $6.367B
YoY Change -1.02% 80.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $66.50M $62.10M
YoY Change 7.09% -11.79%
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 $66.50M $62.10M
YoY Change 7.09% -11.79%
LONG-TERM LIABILITIES
Long-Term Debt $1.336B $1.203B
YoY Change 11.02% -14.96%
Other Long-Term Liabilities $44.40M $47.00M
YoY Change -5.53% 1.08%
Total Long-Term Liabilities $1.380B $1.250B
YoY Change 10.4% -14.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $66.50M $62.10M
Total Long-Term Liabilities $1.380B $1.250B
Total Liabilities $2.967B $3.055B
YoY Change -2.89% 68.73%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $4.582B $4.386B
YoY Change 4.47% 67.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.251B $3.221B
YoY Change
Total Liabilities & Shareholders Equity $6.302B $6.367B
YoY Change -1.02% 80.24%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $15.35M -$5.918M
YoY Change -359.31% -145.27%
Depreciation, Depletion And Amortization $40.10M $37.00M
YoY Change 8.38% 15.26%
Cash From Operating Activities $56.40M $54.60M
YoY Change 3.3% 52.09%
INVESTING ACTIVITIES
Capital Expenditures -$82.10M -$56.80M
YoY Change 44.54% 29.98%
Acquisitions
YoY Change
Other Investing Activities $46.20M $30.00M
YoY Change 54.0% -372.73%
Cash From Investing Activities -$35.80M -$26.70M
YoY Change 34.08% -51.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -16.90M -123.1M
YoY Change -86.27% -580.86%
NET CHANGE
Cash From Operating Activities 56.40M 54.60M
Cash From Investing Activities -35.80M -26.70M
Cash From Financing Activities -16.90M -123.1M
Net Change In Cash 3.700M -95.20M
YoY Change -103.89% -1479.71%
FREE CASH FLOW
Cash From Operating Activities $56.40M $54.60M
Capital Expenditures -$82.10M -$56.80M
Free Cash Flow $138.5M $111.4M
YoY Change 24.33% 39.95%

Facts In Submission

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CY2017Q2 us-gaap Revenues
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us-gaap Share Based Compensation
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3839000 USD
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610000 USD
us-gaap Stock Issued1
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us-gaap Stock Repurchased And Retired During Period Value
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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209218000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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176464000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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159218000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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205155000 shares
us-gaap Nature Of Operations
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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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