Franklin street properties corp. (FSP)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Sep'09Jun'09
Revenues:
Revenue

21

268,913

34

60

58

268,495

104

135

136

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Syndication fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20

541

121

-

29

Transaction fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

246

753

146

1

514

Total revenues

62,983

-

68,539

66,813

64,716

-

68,705

66,694

66,893

-

68,626

68,371

68,756

65,988

63,280

60,807

59,813

61,250

61,877

60,233

60,507

62,489

61,190

62,741

63,263

63,023

58,446

47,672

44,495

42,505

41,468

38,654

38,953

36,922

34,442

34,763

31,914

27,193

30,138

28,905

29,566

32,092

30,132

Expenses:
Real estate operating expenses

17,298

19,428

18,041

17,116

17,726

18,652

17,946

16,954

17,151

18,720

17,898

17,286

17,308

18,209

16,905

14,929

15,292

15,939

15,951

14,644

15,356

16,334

15,632

14,995

15,071

15,223

13,991

11,116

10,770

10,497

9,642

8,604

8,697

8,688

8,889

8,765

8,732

8,038

8,714

7,335

7,955

7,752

7,144

Real estate taxes and insurance

11,762

10,463

12,505

12,801

12,102

10,737

11,651

12,292

11,177

9,961

11,882

11,595

12,403

10,618

10,218

10,154

9,150

9,202

9,941

9,469

10,048

9,288

8,555

9,763

9,251

8,912

8,801

7,308

6,595

5,954

5,761

5,493

5,696

5,175

4,950

5,228

4,759

4,112

4,636

4,038

4,996

5,364

4,686

Depreciation and amortization

22,338

22,996

22,559

22,109

23,245

23,327

23,277

23,591

24,035

25,659

24,988

25,279

25,332

24,957

23,298

22,352

22,445

22,569

22,911

23,207

22,672

23,174

24,878

23,563

24,300

23,974

22,163

16,921

15,781

14,610

13,367

13,003

13,071

12,460

12,183

12,029

10,745

9,004

9,655

8,485

8,496

8,801

10,225

General and administrative

3,525

3,376

3,886

3,702

3,509

3,162

3,394

3,082

3,432

3,665

3,286

3,077

3,443

3,683

3,419

3,494

3,530

3,128

3,071

3,401

3,691

3,492

3,071

3,148

3,272

2,698

3,477

3,204

2,532

2,462

3,141

2,236

2,077

1,955

1,654

1,602

1,644

-405

2,074

2,559

2,171

2,243

2,127

Commissions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16

336

114

8

40

Interest

9,063

8,982

9,036

9,371

9,368

9,200

9,935

9,753

9,486

8,657

8,258

7,893

7,579

6,931

6,767

6,417

6,433

6,455

6,425

6,365

6,187

6,483

6,883

6,891

7,176

7,198

5,474

4,174

4,208

4,167

4,187

4,037

3,677

3,261

3,419

3,578

2,408

2,005

1,892

1,735

1,652

1,744

1,599

Total expenses

63,986

65,245

66,027

65,099

65,950

65,078

66,203

65,672

65,281

66,662

66,312

65,130

66,065

64,398

60,607

57,346

56,850

57,293

58,299

57,086

57,954

58,771

59,019

58,360

59,070

58,005

53,906

42,723

39,886

37,690

36,098

33,373

33,218

31,539

31,095

31,202

28,288

22,288

26,987

24,488

25,384

25,912

25,821

Gain (loss) on sale of properties

-

-

-

-

-

-

-

-

-

-21

-257

-20,492

2,289

-

-523

-643

-

12,251

1

948

10,462

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-2,096

67

129

22

-

621

-1,009

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss before taxes

-1,003

-

2,512

1,714

-1,234

-

2,502

1,022

1,612

-

2,314

3,241

2,691

1,590

2,673

3,461

2,963

3,957

3,578

3,147

2,553

3,718

2,171

4,381

4,193

5,018

4,540

4,949

4,609

4,815

5,370

5,281

5,735

5,383

3,347

3,561

3,626

4,905

3,151

4,417

4,182

6,180

4,311

Tax expense (benefit) on income

68

104

113

81

-29

129

74

75

82

103

100

72

125

92

117

111

98

-11

129

154

161

95

149

117

137

128

118

115

119

99

80

77

79

82

67

68

50

317

-37

5

-68

-270

-75

Interest income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1

1

0

1

1

6

5

4

1

34

5

4

8

3

3

5

11

4

4

9

8

16

36

Equity in income (loss) of non-consolidated REITs

-

-

-

-

-

0

7,180

-282

-105

-2,885

-121

-201

-397

-263

-196

-86

-286

-807

-284

-38

-322

-269

-455

-552

-484

-544

-431

-195

-188

972

176

494

391

978

573

1,166

968

229

404

380

253

475

443

Income (loss) before taxes on income

-

-

-

-

-

-

-

-

-

-

2,003

-17,323

4,605

1,821

2,575

1,723

2,677

15,401

3,295

4,057

12,694

4,390

1,716

3,830

3,710

4,480

4,114

4,758

4,422

5,821

5,551

5,779

6,134

6,364

3,923

4,732

4,605

5,138

3,559

4,806

4,443

6,671

4,790

Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,801

4,511

-

-

Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,166

3,903

12,533

-

-

-

-

4,352

3,996

4,643

4,303

5,722

5,471

5,702

6,055

6,282

3,856

4,664

4,555

2,617

3,596

5,954

5,562

6,941

4,865

Income from discontinued operations, net of income tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

81

98

98

98

263

-169

-268

-317

-1,221

-542

3,371

620

999

1,161

1,153

1,051

-

-

Gain on sale, less applicable income tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,300

-

-

-43,878

1

2,346

19,592

-

-

-

-

-

-

Total discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,239

98

98

98

-263

-14,469

-268

-317

-1,220

-542

5,717

20,212

999

1,161

1,153

1,051

-

-

Net loss

-1,071

3,648

2,399

1,633

-1,205

1,371

9,608

665

1,425

-4,932

1,903

-17,395

4,480

1,729

2,458

1,612

2,579

-

-

-

-

4,295

1,567

3,713

3,573

6,591

4,094

4,741

4,401

5,459

-8,998

5,434

5,738

5,062

3,314

10,381

24,767

-

4,757

-

-

-

-

Weighted average number of shares outstanding, basic and diluted

107,269

107,239

107,231

107,231

107,231

107,231

107,231

107,231

107,231

107,231

107,231

107,231

107,231

107,289

103,709

100,187

100,187

100,187

100,187

100,187

100,187

100,187

100,187

100,187

100,187

100,449

100,187

91,847

82,937

82,937

82,937

82,937

82,937

-

-

-

-

-

-

-

-

-

-

Weighted average number of shares outstanding, basic (in shares)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

81,600

81,437

81,437

-

79,751

79,681

79,681

71,281

70,481

Weighted average number of shares outstanding, diluted (in shares)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

81,600

81,437

81,437

-

79,751

79,681

79,681

71,281

70,481

Continuing operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.04

0.04

0.05

0.05

0.07

0.07

0.07

0.07

0.08

0.05

0.06

0.05

-

0.05

-

-

-

-

Discontinued operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

-

-0.18

-

-

-0.02

-0.01

0.07

0.25

-

0.01

-

-

-

-

Net loss per share, basic and diluted

-0.01

0.03

0.02

0.02

-0.01

0.01

0.09

0.01

0.01

-0.05

0.02

-0.16

0.04

0.01

0.02

0.02

0.03

0.15

0.03

0.04

0.13

0.03

0.02

0.04

0.04

0.07

0.04

0.05

0.05

0.06

-0.11

0.07

0.07

0.06

0.04

0.13

0.30

-

0.06

-

-

-

-

Continuing operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.06

0.06

-

-

Discontinued operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.01

0.01

-

-

Net income per share, basic (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.07

0.07

0.10

0.07

Continuing operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.06

0.06

-

-

Discontinued operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.01

0.01

-

-

Net income per share, diluted (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.07

0.07

0.10

0.07

Rental
Rental

62,567

68,575

68,108

65,485

63,359

65,304

67,436

65,409

65,628

65,555

67,339

66,995

67,376

64,611

61,925

59,453

58,360

59,656

60,386

58,801

59,013

61,022

59,728

60,994

61,597

61,307

56,760

46,017

42,842

40,617

37,944

35,570

36,303

35,843

33,398

33,606

31,099

28,249

29,222

27,046

28,757

31,702

29,254

Related party revenue: Management fees and interest income from loans
Revenue

403

417

426

1,322

1,352

1,268

1,261

1,276

1,256

1,271

1,278

1,366

1,370

1,357

1,338

1,337

1,433

1,575

1,470

1,412

1,473

1,465

1,462

1,671

1,643

1,716

1,665

1,643

1,622

1,801

3,485

3,045

2,616

1,051

1,037

1,150

808

718

630

559

533

370

317

Related party revenue: Other
Revenue

13

5

5

6

5

6

8

9

9

9

9

10

10

20

17

17

20

19

21

20

21

2

0

76

23

0

21

12

31

87

39

39

34

28

7

7

7

53

20

6

9

19

18