This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Thomas Properties Group, Inc. Announces Fourth Quarter 2011 Results

Thomas Properties Group, Inc. (Nasdaq: TPGI) reported today the results of operations for the quarter and year ended December 31, 2011.

The consolidated net income for the three months ended December 31, 2011 was $10.1 million or $0.27 per share compared to consolidated net loss of $(6.2) million or $(0.18) per share for the three months ended December 31, 2010. The consolidated net income for the year ended December 31, 2011 was $5.9 million or $0.16 per share compared to consolidated net loss of $(11.5) million or $(0.34) per share for the year ended December 31, 2010. The increase in the consolidated net income for the year ended December 31, 2011 compared to the consolidated net loss for the year ended December 31, 2010 is primarily due to our share of gain on disposition of certain joint venture assets.

After tax cash flow (“ATCF”) for the three months ended December 31, 2011 was $17.9 million or $0.49 per share compared to ATCF of $(0.3) million or $(0.01) per share for the three months ended December 31, 2010. ATCF for the year ended December 31, 2011 was $27.2 million or $0.74 per share compared to ATCF of $9.1 million or $0.27 per share for the year ended December 31, 2010. The increase in ATCF per share for the year ended December 31, 2011 compared to the year ended December 31, 2010 was primarily the result of our share of gain on disposition of certain joint venture assets. The Company defines ATCF (a non-GAAP financial measure) as net income (loss) excluding the following items: noncontrolling interests, deferred income taxes, non-cash charges for depreciation and amortization and asset impairment, amortization of loan costs, non-cash compensation expense, straight-line rent adjustments, adjustments to reflect the fair market value of rent, and gains from extinguishment of debt and foreclosure of real estate. ATCF is further described in note (a) to the financial statements below.
Same Property Highlights:          
Three months ended

December 31, 2011
Twelve months ended

December 31, 2011
Net Operating Income ("NOI") Growth:
Cash Basis 12.4 % 9.6 %
GAAP Basis 6.3 % 3.9 %
 

As ofDecember 31, 2011

As ofDecember 31, 2010
Percent Leased 84.2 % 83.7 %

NOI is calculated as rental, tenant reimbursement, parking and other revenues less property operating, maintenance and real estate tax expense.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,676.63 +80.28 0.46%
S&P 500 2,065.13 +7.49 0.36%
NASDAQ 4,983.0070 +24.5390 0.49%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs