-----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, L5Ed37/bgdsAnJqpgiBfpXMNN3XQ9hUoZoo6IcpEirT3aMBirpn/WUExLF6V9gWX 7hr9msbhhZS1A30dWiu+yQ== 0001035704-97-000292.txt : 19971021 0001035704-97-000292.hdr.sgml : 19971021 ACCESSION NUMBER: 0001035704-97-000292 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971020 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971020 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: 97698225 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 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): October 20, 1997 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 October 20, 1997, the Company announced its results for the three and nine month periods ended September 30, 1997. Attached as Exhibit 99.1 is summary financial information for the Company for the three and nine months ended September 30, 1997. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits 99.1 American Health Properties, Inc. Financial Highlights, third quarter and year to date September 30, 1997. 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: October 20, 1997 AMERICAN HEALTH PROPERTIES, INC. (Registrant) By: /s/ Michael J. McGee Michael J. McGee Treasurer -2- EX-99.1 2 FINANCIAL HIGHLIGHTS 1 EXHIBIT 99.1 AMERICAN HEALTH PROPERTIES, INC. FINANCIAL HIGHLIGHTS -- YEAR TO DATE (In thousands except per share amounts) (Unaudited)
Consolidated Core Group Psychiatric Group ---------------- ----------------- ------------------ Nine Months Ended September 30, --------------------------------------------------------------------- 1997 1996 1997 1996 1997 1996 ---- ---- ---- ---- ---- ---- Revenues Rental income $ 53,572 $51,693 $ 52,294 $50,343 $ 1,278 $1,350 Mortgage interest income 4,661 4,479 112 -- 4,549 4,479 Additional rental and interest income 9,247 9,103 8,691 8,491 556 612 Other property income 107 -- 107 -- -- -- Other interest income 1,467 911 1,201 605 266 306 Interest on loans to Psychiatric Group -- -- 1,176 1,272 -- -- -------- ------- -------- ------- ------- ------ 69,054 66,186 63,581 60,711 6,649 6,747 -------- ------- -------- ------- ------- ------ Expenses Depreciation and amortization 11,627 11,204 11,065 10,646 562 558 Property operating 292 33 192 33 100 -- Interest expense 15,118 16,564 15,118 16,564 -- -- Interest on loans from Core Group -- -- -- -- 1,176 1,272 General and administrative 5,815 5,645 4,918 4,672 897 973 Impairment loss on real estate investments and other notes receivable 11,000 -- -- -- 11,000 -- -------- ------- -------- ------- ------- ------ 43,852 33,446 31,293 31,915 13,735 2,803 -------- ------- -------- ------- ------- ------ Minority Interest 142 169 142 169 -- -- -------- ------- -------- ------- ------- ------ Net Income (Loss) Before Extraordinary Item 25,060 32,571 32,146 28,627 (7,086) 3,944 Extraordinary Loss On Debt Payment (11,427) -- (11,427) -- -- -- -------- ------- -------- ------- ------- ------ Net Income (Loss) $ 13,633 $32,571 $ 20,719 $28,627 $(7,086) $3,944 -------- ------- -------- ------- ------- ------ Funds From Operations $ 47,602 $43,679 $ 43,126 $39,177 $ 4,476 $4,502 -------- ------- -------- ------- ------- ------ Per Share Amounts Net Income (Loss) Before Extraordinary Item $ 1.36 $ 1.22 $ (3.38) $ 1.89 Extraordinary Loss On Debt Prepayment $ (0.48) -- -- -- Net Income (Loss) $ 0.88 $ 1.22 $ (3.38) $ 1.89 Funds From Operations $ 1.83 $ 1.67 $ 2.13 $ 2.15 Dividends Declared $ 1.575 $ 1.515 $ 2.00 $ 2.00 Average Shares Outstanding 23,585 23,511 2,097 2,092
2 AMERICAN HEALTH PROPERTIES, INC. FINANCIAL HIGHLIGHTS -- THIRD QUARTER (In thousands except per share amounts) (Unaudited)
Consolidated Core Group Psychiatric Group ---------------- ----------------- ------------------- Three Months Ended September 30, ---------------------------------------------------------------------- 1997 1996 1997 1996 1997 1996 ---- ---- ---- ---- ---- ---- Revenues Rental income $ 17,945 $17,315 $ 17,590 $16,911 $ 355 $ 404 Mortgage interest income 1,613 1,493 97 -- 1,516 1,493 Additional rental and interest income 3,124 3,092 2,939 2,882 185 210 Other property income 73 -- 73 -- -- -- Other interest income 195 238 113 126 82 112 Interest on loans to Psychiatric Group -- -- 392 425 -- -- -------- ------- -------- ------- ------- ------- 22,950 22,138 21,204 20,344 2,138 2,219 -------- ------- -------- ------- ------- ------- Expenses Depreciation and amortization 3,910 3,761 3,722 3,575 188 186 Property operating 204 11 129 11 75 -- Interest expense 4,533 5,285 4,533 5,285 -- -- Interest on loans from Core Group -- -- -- -- 392 425 General and administrative 1,987 1,876 1,685 1,546 302 330 -------- ------- -------- ------- ------- ------- 10,634 10,933 10,069 10,417 957 941 -------- ------- -------- ------- ------- ------- Minority Interest 48 54 48 54 -- -- -------- ------- -------- ------- ------- ------- Net Income $ 12,268 $11,151 $ 11,087 $ 9,873 $ 1,181 $ 1,278 -------- ------- -------- ------- ------- ------- Funds From Operations $ 16,150 $14,880 $ 14,781 $13,416 $ 1,369 $ 1,464 -------- ------- -------- ------- ------- ------- Per Share Amounts Net Income $ 0.47 $ 0.42 $ 0.56 $ 0.61 Funds From Operations $ 0.63 $ 0.57 $ 0.65 $ 0.70 Dividends Declared $ 1.525 $ 0.505 $ 0.62 $ 0.65 Average Shares Outstanding 23,649 23,522 2,099 2,093 As of September 30, ------------------------------------------------------------------------ 1997 1996 1997 1996 1997 1996 ---- ---- ---- ---- ---- ---- Balance Sheet Information Total Assets $579,593 $579,127 $541,104 $529,639 $51,351 $63,794 Total Debt $234,307 $210,044 $234,307 $210,044 $12,862 $14,306 Total Shareholders' Equity $320,851 $347,125 $284,041 $299,142 $36,810 $47,983
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