EX-99.1 33 j3192_ex99d1.htm EX-99.1 Exhibit 99

Exhibit 99.1

 

 

SELECTED QUARTERLY FINANCIAL INFORMATION

(Unaudited)

 

Selected quarterly information for the years ended December 31, 2001 and 2000 is as follows (in thousands, except per share amounts):

 

 

 

Quarter Ended

 

 

 

 

 

 

 

 

 

 

 

2001

 

December 31

 

September 30

 

June 30

 

March 31

 

Revenues from Rental Operations

 

$

179,414

 

$

178,199

 

$

181,768

 

$

183,968

 

Revenues from Service Operations

 

12,834

 

21,676

 

23,627

 

22,322

 

Net income available for common shares

 

44,420

 

77,102

 

49,675

 

58,770

 

Basic income per common share

 

$

0.34

 

$

0.59

 

$

0.39

 

$

0.46

 

Diluted income per common share

 

$

0.34

 

$

0.58

 

$

0.38

 

$

0.45

 

Weighted average common shares

 

130,970

 

130,104

 

129,131

 

128,399

 

Weighted average common and dilutive potential common shares

 

149,842

 

158,594

 

149,572

 

151,031

 

Funds From Operations (1)

 

$

84,520

 

$

88,881

 

$

88,754

 

$

84,592

 

Cash flow provided by (used by):

 

 

 

 

 

 

 

 

 

Operating activities

 

$

66,084

 

$

147,958

 

$

126,273

 

$

93,341

 

Investing activities

 

(27,948

)

55,145

 

23,803

 

(43,449

)

Financing activities

 

(38,157

)

(296,626

)

(85,940

)

(50,192

)

 

 

 

 

 

 

 

 

 

 

2000

 

 

 

 

 

 

 

 

 

Revenues from Rental Operations

 

$

172,924

 

$

185,760

 

$

178,408

 

$

174,734

 

Revenues from Service Operations

 

21,790

 

21,903

 

25,041

 

14,065

 

Net income available for common shares

 

73,425

 

45,149

 

45,525

 

48,859

 

Basic income per common share

 

$

0.58

 

$

0.36

 

$

0.36

 

$

0.39

 

Diluted income per common share

 

$

0.57

 

$

0.35

 

$

0.36

 

$

0.39

 

Weighted average common shares

 

127,654

 

127,010

 

126,597

 

126,070

 

Weighted average common and dilutive potential common shares

 

154,793

 

147,916

 

147,181

 

146,326

 

Funds From Operations (1)

 

$

81,873

 

$

81,667

 

$

78,790

 

$

75,030

 

Cash flow provided by (used by):

 

 

 

 

 

 

 

 

 

Operating activities

 

$

148,075

 

$

126,913

 

$

96,607

 

$

77,535

 

Investing activities

 

145,809

 

14,421

 

(97,321

)

(160,661

)

Financing activities

 

(295,980

)

(141,764

)

4,518

 

102,274

 

 

(1)          Funds From Operations is defined by the National Association of Real Estate Investment Trusts as net income or loss, excluding gains or losses from debt restructuring and sales of depreciated property, plus operating property depreciation and amortization and adjustments for minority interest and unconsolidated companies on the same basis. Funds From Operations does not represent cash flow from operations as defined by generally accepted accounting principles, should not be considered as an alternative to net income as an indicator of the Company’s operating performance, and is not indicative of cash available to fund all cash flow needs.