GLADSTONE COMMERCIAL CORP GOOD Income Statement

Gladstone commercial corp (GOOD)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Operating revenues
Lease revenue
33,619	29,386	28,667	28,197	28,137	27,261	26,591	26,593	26,353	26,552	23,815	22,478	21,954	21,746	21,205	20,890	20,657	20,939	20,653	20,012	19,288	18,638	18,368	17,620	16,585	16,106	15,807	14,190	13,666	13,700	12,878	12,323	12,014	11,383	11,085	10,729	10,435	10,209	10,410
Tenant recovery revenue
-	-	-	-	-	-	-	-	-	-	550	389	360	263	384	357	485	598	437	394	324	209	549	770	551	754	383	68	369	90	92	87	86	85	88	87	84	81	82
Interest income from mortgage note receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	385	286	285	282	268	-	97	-	-	-	-	-	-	-	-	-	-	-	-	-	-	44	189
Total operating revenues
33,619	29,386	28,667	28,197	28,137	27,261	26,591	26,593	26,353	25,253	24,365	22,867	22,314	22,009	21,589	21,247	21,527	21,823	21,375	20,688	19,880	19,216	19,014	18,390	17,136	16,860	16,190	14,258	14,035	13,790	12,970	12,410	12,100	11,468	11,173	10,816	10,519	10,334	10,681
Operating expenses
Depreciation and amortization
14,096	13,428	12,979	12,622	13,010	12,454	11,807	11,773	11,586	12,119	10,829	9,926	9,921	9,720	9,459	9,205	9,133	9,128	9,006	8,947	8,207	7,757	7,516	6,871	6,720	6,453	6,253	5,220	4,901	4,659	4,276	3,992	3,904	3,675	3,629	3,475	3,370	3,280	3,390
Property operating expenses
6,213	3,262	3,202	3,060	3,068	3,212	2,638	2,816	2,792	2,625	2,178	1,505	1,380	1,435	1,410	1,434	1,610	1,544	1,612	1,178	962	877	1,202	1,302	1,330	1,183	864	564	737	557	345	353	333	236	251	202	297	263	230
Acquisition related expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	138	255	196	236	233	859	110	146	163	274	185	144	117	528	160	506	201	131	-138	-	-
Base management fee
1,412	1,348	1,292	1,293	1,267	1,257	1,242	1,260	1,295	1,335	1,277	1,207	1,181	1,141	1,072	856	861	884	872	866	852	766	741	666	625	651	559	451	353	347	355	372	393	412	430	435	352	298	296
Incentive fee
1,100	923	965	900	900	767	800	733	700	662	640	551	569	544	564	655	618	596	621	1,760	1,673	0	1,538	1,527	1,240	1,199	1,138	933	931	956	927	787	899	849	877	840	832	1,070	829
Administration fee
438	490	400	400	400	400	440	360	400	279	293	340	360	389	311	370	404	365	326	366	362	289	260	485	492	464	274	367	362	271	272	265	310	266	242	260	256	357	219
General and administrative
878	1,200	596	782	657	602	510	600	646	590	650	575	551	504	570	726	588	1,041	446	539	690	1,195	538	490	466	412	377	477	389	464	343	404	383	305	381	357	454	2,014	442
Asset Impairment Charges
-	-	-	-	-	-	-	-	-	2,836	0	253	3,746	0	1,786	187	43	-	622	0	-	0	280	0	13,958	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses before credit to incentive fee
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,969	13,643	13,911	12,942	11,120	12,308	12,200	24,941	10,508	9,628	8,286	7,858	7,398	6,635	6,701	6,382	6,249	6,011	5,700	5,423	7,282	5,406
Credit to incentive fee
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	0	1,316	1,185	0	851	957	1,205	966	989	917	585	427	535	674	585	354	828	445	486	-	56
Total operating expenses
24,092	22,462	19,445	19,058	19,266	18,771	17,422	17,542	17,402	20,405	15,867	14,357	17,708	13,733	15,172	13,433	13,257	12,970	13,643	12,595	11,757	10,970	11,457	11,243	23,736	9,542	8,639	7,369	7,273	6,971	6,100	6,027	5,797	5,895	5,183	5,255	4,937	7,282	5,350
Other (expense) income
Interest expense
7,252	6,873	7,170	7,005	7,231	6,897	6,531	6,531	6,213	6,349	6,119	5,944	6,158	6,254	6,338	6,579	6,731	7,102	7,142	6,999	6,771	6,734	6,679	6,509	6,275	6,353	6,573	5,764	5,661	5,540	5,229	4,885	4,572	4,468	4,251	4,201	4,156	4,371	4,373
Distributions attributable to Series C Preferred Stock
-	-	-	-	-	-	-	-	-	-	-	-	-	2,743	131	-686	-686	-	-686	-686	-	-	-	-	-	-	-	-	-	-	-	-	457	-	-	-	-	-	-
(Loss) gain on sale of real estate, net
-12	0	0	0	2,952	919	0	0	1,844	0	1	-1,914	5,906	266	-24	0	0	-	0	-	-	-	-	1,240	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other (loss) income
-5	-	-	-	81	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income - employee loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9	10	37	43
Other income
-	-	139	71	-	5	39	5	23	38	3	9	2	6	3	334	0	-37	0	23	28	63	37	27	47	54	17	12	18	21	37	42	27	30	9	1	44	3,310	5
Total other expense, net
-7,269	-6,452	-7,031	-6,934	-4,198	-5,973	-6,492	-6,526	-4,346	-6,311	-6,115	-7,849	-250	-5,981	-6,490	-6,931	-7,417	-6,286	-7,828	-7,662	-7,429	-2,082	-7,328	-5,928	-6,914	-6,984	-7,242	-6,438	-6,329	-6,205	-5,878	-5,529	-5,002	-4,457	-4,242	-4,191	-4,102	-1,024	-4,325
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
2,258	472	2,191	2,205	4,673	2,517	2,677	2,525	4,605	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss (income) attributable (available) to OP Units held by Non-controlling OP Unitholders
-9	-100	-16	-16	45	4	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to the Company
2,267	572	2,207	2,221	4,628	2,513	2,677	2,525	4,605	-1,463	2,383	661	4,356	2,295	-73	883	853	2,567	-96	431	694	6,164	229	1,219	-13,514	334	309	451	433	614	992	854	1,301	1,116	1,748	1,370	1,480	2,028	1,006
Distributions attributable to Series A, B, D, and E preferred stock
2,678	2,986	2,612	2,612	2,612	2,613	2,612	2,609	2,582	2,560	2,520	2,437	2,373	2,353	2,002	1,263	1,027	-	1,023	1,023	-	-	-	-	-	-	-	-	-	-	-	-	1,023	-	1,023	1,024	1,023	1,023	1,023
Distributions attributable to senior common stock
208	217	226	225	224	231	235	233	232	242	247	249	248	254	254	251	252	259	263	261	224	195	137	110	100	95	83	69	53	42	30	22	19	16	16	15	15	4	-
Net (loss) income (attributable) available to common stockholders
-619	-5,305	-631	-616	1,792	-331	-170	-317	1,791	-4,265	-384	-2,025	1,735	-312	-2,329	-631	-426	1,283	-1,382	-853	-553	4,944	-931	86	-14,637	-786	-797	-641	-643	-451	-61	-192	259	76	709	331	442	1,001	-17
(Loss) earnings per weighted average share of common stock - basic & diluted
Loss from continuing operations (net of dividends attributable to preferred stock)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.06	-0.05	-	-	-0.01	-0.02	0.02	-0.01	0.07	0.04	0.05	-	-
(Loss) earnings (attributable) available to common shareholders (in dollars per share)
-0.02	-0.18	-0.02	-0.02	0.06	-0.01	-0.01	-0.01	0.06	-0.17	-0.01	-0.08	0.07	-0.01	-0.10	-0.03	-0.02	0.06	-0.06	-0.04	-0.03	0.36	-0.05	0.01	-0.93	-0.05	-0.06	-0.05	-0.06	-0.03	-0.01	-0.02	0.02	-0.01	0.07	0.04	0.05	-	-
Weighted average shares of common stock outstanding
Basic and Diluted (in shares)
33,634	31,784	31,032	30,449	29,516	29,110	28,734	28,437	28,420	27,957	27,234	25,276	24,963	24,037	23,509	22,684	22,545	-	-	-	-	-	-	-	15,746	-	-	-	11,230	-	-	-	-	-	-	-	-	-	-
Distributions declared per common share (in dollars per share)
-	-	-	-	-	-	-	-	-	0.37	0.37	0.37	0.37	-	0.37	0.37	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.37	0.37	-	-	-	-	-	-	-
Basic
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.12	0.00
Diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.12	0.00
Basic (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	21,403	20,833	20,210	-	17,739	16,547	-	-	14,196	12,380	-	-	10,945	10,945	10,945	10,971	10,936	9,782	9,258	8,563	8,545
Diluted (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	21,403	20,833	20,210	-	17,739	16,894	-	-	14,196	12,380	-	-	10,945	10,945	11,006	11,022	10,988	9,834	9,310	8,577	8,545
Earnings per weighted average share of senior common stock (in dollars per share)
0.26	0.27	0.26	0.26	0.26	0.26	0.27	0.26	0.26	0.27	0.26	0.26	0.26	0.27	0.26	0.26	0.26	0.27	0.26	0.26	0.26	0.27	0.26	0.26	0.26	0.26	0.26	0.26	0.26	0.27	0.26	0.26	0.27	0.28	0.26	0.26	0.25	0.26	0.26
Weighted average shares of senior common stock outstanding - basic (in shares)
793	817	854	861	864	875	886	891	895	913	932	950	958	959	959	959	964	984	993	995	866	741	518	421	385	369	313	261	204	157	112	84	70	60	59	59	59	16	1
Comprehensive income
Change in unrealized loss related to interest rate hedging instruments, net
-2,528	356	-624	-988	-722	-1,212	245	289	495	-137	-7	179	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Comprehensive Income (Loss), Net of Tax
-2,528	356	-624	-988	-722	-1,212	245	289	495	-137	-7	179	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
2,267	572	2,207	2,221	4,628	2,513	2,677	2,525	4,605	-1,463	2,383	661	4,356	-	-73	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive (loss) income
-270	828	1,567	1,217	3,951	1,305	2,922	2,814	5,100	-1,600	2,376	840	4,356	-	-73	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive loss (income) attributable (available) to OP Units held by Non-controlling OP Unitholders
-9	-100	-16	-16	45	4	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total comprehensive (loss) income (attributable) available to the Company
-261	928	1,583	1,233	3,906	1,301	2,922	2,814	5,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-