-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HZhU7vL/bmjpiIQiMWWo1AokR4dqJPz7NfO4HS88n2Awc2C1SHO2Yc5gHiAzic74 iEuo+Ms/ub2PC21IskJ29g== 0000950134-98-003833.txt : 19980507 0000950134-98-003833.hdr.sgml : 19980507 ACCESSION NUMBER: 0000950134-98-003833 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980420 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980506 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN HEALTH PROPERTIES INC CENTRAL INDEX KEY: 0000808240 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 954084878 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-09381 FILM NUMBER: 98611159 BUSINESS ADDRESS: STREET 1: 6400 S FIDDLERS GREEN CIRCLE STREET 2: STE 1800 CITY: ENGLEWOOD STATE: CO ZIP: 80111 BUSINESS PHONE: 3037969793 MAIL ADDRESS: STREET 1: 6400 S FIDDLERS GREEN CIRCLE STREET 2: SUITE 1800 CITY: ENGLEWOOD STATE: CO ZIP: 80111 8-K 1 FORM 8-K DATED APRIL 20, 1998 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): April 20, 1998 AMERICAN HEALTH PROPERTIES, INC. (Exact name of registrant as specified in its charter) DELAWARE 1-9381 95-4084878 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 6400 SOUTH FIDDLER'S GREEN CIRCLE, SUITE 1800 ENGLEWOOD, COLORADO 80111 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (303) 796-9793 2 Item 5. Other Events. On April 20, 1998, the Company announced its results for the three month period ended March 31, 1998. Attached as Exhibit 99.1 is summary financial information for the Company for the three months ended March 31, 1998. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits 99.1 American Health Properties, Inc. Financial Highlights, first quarter ended March 31, 1998. Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 20, 1998 AMERICAN HEALTH PROPERTIES, INC. (Registrant) By: /s/ Michael J. McGee Michael J. McGee Treasurer -2- 3 Exhibit Index Exhibit No. Description - ----------- ----------- 99.1 American Health Properties, Inc. Financial Highlights, first quarter ended March 31, 1998. EX-99.1 2 FINANCIAL HIGHLIGHTS 1 EXHIBIT 99.1 AMERICAN HEALTH PROPERTIES, INC. FINANCIAL HIGHLIGHTS-FIRST QUARTER (in thousands except per share amounts) (Unaudited)
Consolidated Core Group Psychiatric Group --------------------- -------------------------- ------------------------ Three Months Ended March 31, --------------------------------------------------------------------------------- 1998 1997 1998 1997 1998 1997 - ------------------------------------------ --------- --------- --------- --------- -------- -------- Revenues Rental income $ 21,358 $ 17,810 $ 21,003 $ 17,229 $ 355 $ 581 Mortgage interest income 1,653 1,517 113 -- 1,540 1,517 Additional rental and interest income 3,420 2,976 3,126 2,772 294 204 Other property income 335 -- 335 -- -- -- Other interest income 241 1,030 161 931 80 99 Interest on loans to Psychiatric Group -- -- 365 390 -- -- - ------------------------------------------ --------- --------- --------- --------- -------- -------- 27,007 23,333 25,103 21,322 2,269 2,401 - ------------------------------------------ --------- --------- --------- --------- -------- -------- Expenses Depreciation and amortization 4,874 3,828 4,686 3,642 188 186 Property operating 1,215 11 990 11 225 -- Interest expense 4,942 6,107 4,942 6,107 -- -- Interest on loans from Core Group -- -- -- -- 365 390 General and administrative 2,106 1,880 1,854 1,585 252 295 Impairment loss on real estate and notes receivable -- 11,000 -- -- -- 11,000 - ------------------------------------------ --------- --------- --------- --------- -------- -------- 13,137 22,826 12,472 11,345 1,030 11,871 - ------------------------------------------ --------- --------- --------- --------- -------- -------- Minority Interest 47 47 47 47 -- -- - ------------------------------------------ --------- --------- --------- --------- -------- -------- Income (Loss) Before Extraordinary Item 13,823 460 12,584 9,930 1,239 (9,470) Extraordinary Loss On Debt Prepayment -- (11,427) -- (11,427) -- -- - ------------------------------------------ --------- --------- --------- --------- -------- -------- Net Income (Loss) $ 13,823 $ (10,967) $ 12,584 $ (1,497) $ 1,239 $ (9,470) - ------------------------------------------ ========= ========= ========= ========= ======== ======== Funds From Operations $ 18,672 $ 15,259 $ 17,245 $ 13,543 $ 1,427 $ 1,716 - ------------------------------------------ ========= ========= ========= ========= ======== ======== Basic Per Share Amounts(1) - ------------------------------------------ Income (Loss) Before Extraordinary Item $ 0.44(2) $ 0.42 $ 0.59 $ (4.54) Extraordinary Loss On Debt Prepayment $ -- $ (0.48) $ -- $ -- Net Income (Loss) $ 0.44(2) $ (0.06) $ 0.59 $ (4.54) Funds From Operations $ 0.64(2) $ 0.58 $ 0.68 $ 0.82 Weighted Average Shares 23,716 23,458 2,084 2,084 Diluted Per Share Amounts(1) - ------------------------------------------ Income (Loss) Before Extraordinary Item $ 0.43(2) $ 0.42 $ 0.59 $ (4.54)(3) Extraordinary Loss On Debt Prepayment $ -- $ (0.48) $ -- $ -- Net Income (Loss) $ 0.43(2) $ (0.06) $ 0.59 $ (4.54)(3) Funds From Operations $ 0.63(2) $ 0.57 $ 0.68 $ 0.82 Weighted Average Shares and Dilutive Potential Shares 23,992 23,649 2,102 2,096 Dividends Declared Per Share $ 0.545 $ 0.525 $ 0.64 $ 0.75
As of March 31, --------------------------------------------------------------------------------- Balance Sheet Information 1998 1997 1998 1997 1998 1997 - ------------------------------------------ --------- --------- --------- --------- -------- -------- Total Assets $ 709,553 $ 570,547 $ 670,744 $ 531,986 $ 50,785 $ 51,885 Total Debt $ 258,794 $ 225,642 $ 258,794 $ 225,642 $ 11,976 $ 13,324 Total Shareholders' Equity $ 423,084 $ 320,666 $ 386,456 $ 283,702 $ 36,628 $ 36,964
(1) Per share amounts for 1997 have been restated as required by Statement of Financial Accounting Standards No. 128, "Earnings per Share". (2) Per share amount is based on amount attributable to Core Group common shareholders which represents amount after deduction of preferred dividends of $2,150 for the three months ended March 31, 1998. (3) Per share amount is based on Weighted Average Shares used for Basic Per Share Amounts. -----END PRIVACY-ENHANCED MESSAGE-----