Please wait while we load the requested 10-Q report or click the link below:
https://last10k.com/sec-filings/report/1065645/000106564509000062/sept09_3qtr10q.htm
SEC Filings
1065645 Annual Reports
1065645 Quarterly Reports
1065645 Corporate News
Change in Control
Event for Officers
Financial Exhibit
Listing Status
Security Holders Change December 2009
Financial Exhibit December 2009
Other Events December 2009
Earnings Release
Financial Exhibit November 2009
Financial Exhibit
New Agreement
Other Events September 2009
Other Events September 2009
Event for Officers
Financial Exhibit September 2009
Event for Officers
Financial Exhibit September 2009
Event for Officers
Financial Exhibit September 2009
Change in Assets
Financial Exhibit September 2009
Change in Control
Event for Officers
Financial Exhibit
Listing Status
Security Holders Change
Event for Officers
Financial Exhibit
Listing Status
Security Holders Change
December 2009
Financial Exhibit
December 2009
Other Events
December 2009
Earnings Release
Financial Exhibit
Financial Exhibit
November 2009
Financial Exhibit
New Agreement
Other Events
New Agreement
Other Events
September 2009
Other Events
September 2009
Event for Officers
Financial Exhibit
Financial Exhibit
September 2009
Event for Officers
Financial Exhibit
Financial Exhibit
September 2009
Event for Officers
Financial Exhibit
Financial Exhibit
September 2009
Change in Assets
Financial Exhibit
Financial Exhibit
September 2009
Last10K.com | 10-Q Quarterly Report Mon Nov 16 2009
News
Release
|
FOR
IMMEDIATE RELEASE
|
CONTACT
|
|
November
16, 2009
|
Craig
J. Renner
|
|
301-843-8600
|
ACPT
REPORTS RESULTS FOR QUARTER ENDED
SEPTEMBER
30, 2009
ST. CHARLES, MD. — American
Community Properties Trust (ACPT) (NYSE Amex: APO) today reported a loss from
continuing operations of $723,000, or $0.13 per share, on revenues of
$33,406,000 for the nine months ended September 30, 2009. Net income
was $25,262,000, or $4.76 per share, due to the sale of the Puerto Rico
multifamily apartment operations. This compares to a loss from continuing
operations of $534,000, or $0.11 per share, on revenues of $36,653,000 for the
nine months ended September 30, 2008, with a net loss of $2,001,000, or $0.38
per share.
For the quarter ended September 30,
2009, the Company reported a loss from continuing operations of $414,000, or
$0.07 per share, on revenues of $12,051,000. Net income was
$24,575,000, or $4.63 per share, due to the sale of the Puerto Rico multifamily
apartment operations. This compares to income from continuing operations
of $33,000 on revenue of $9,892,000 for the third quarter 2008, with a net loss
of $630,000, or $0.12 per share.
“Completing the sale of our Puerto Rico
apartments was clearly our most significant accomplishment in the third
quarter,” said Steve Griessel, Chief Executive Officer. “The transaction
has had a positive impact on our earnings and balance sheet. More
importantly though, the completion of this transaction also gives us needed
capital to stabilize our business as well as provide us with the flexibility to
capitalize our U.S. land development business and thus accomplishes a strategic
imperative set by the Company a year ago.
Matthew
M. Martin, Chief Financial Officer, noted that as a result of the sale of the
Puerto Rico apartments, the Company removed $57.5 million of asset, $85.1
million of liabilities and recorded a total gain on sale of $25.3 million, which
is significantly greater than the $14.3 million gross consideration
received. This difference represents certain distributions and losses
in excess of limited partners' basis that was previously required to be absorbed
by the Company. As these multifamily apartment partnerships are no
longer included in the Company’s consolidated financial results, we were able to
recognize these previously absorbed distributions and losses in excess of
basis. In addition, the Company is required to pay a 29% Puerto Rico
withholding tax on the gross proceeds from the sale.
- 1 -
The following information was filed by American Community Properties Trust on Monday, November 16, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate American Community Properties Trust's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by American Community Properties Trust.
Assess how American Community Properties Trust's management team is paid from their Annual Proxy
American Community Properties Trust's Definitive Proxy Statement (Form DEF 14A) filed after their 2009 10-K Annual Report includes:
- Voting Procedures
- Board Members
- Executive Team
- Salaries, Bonuses, Perks
- Peers / Competitors
SEC Filing Tools
CIK: 1065645
Form Type: 10-Q Quarterly Report
Accession Number: 0001065645-09-000062
Submitted to the SEC: Mon Nov 16 2009 5:29:51 PM EST
Accepted by the SEC: Mon Nov 16 2009
Period: Wednesday, September 30, 2009
Industry: Land Subdividers And Developers No Cemeteries
External Resources:
SEC.gov
Bookmark the Permalink: https://last10k.com/sec-filings/1065645/0001065645-09-000062.htm
SEC Filing Exhibit
PDF Download
Loading SEC Filing Exhibit...
Excel DownloadLoading SEC Filing Financial Summary...