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Getty Realty Corp (GTY) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Getty Realty Corp

CIK: 1052752 Ticker: GTY

Exhibit 99.1

RELEASE: IMMEDIATE

GETTY REALTY CORP. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2013 RESULTS

- 9% Increase in Fourth Quarter 2013 Adjusted Funds From Operations -

JERICHO, NY, March 4, 2014

— Getty Realty Corp. (NYSE-GTY) (“Getty” or the “Company”) announced its financial results for

the quarter and year ended December 31, 2013.

Highlights For The Quarter Ended December 31, 2013:

 

 

Net Income of $5.0 million, or $0.15 per share.

 

 

Funds From Operations of $7.3 million, or $0.22 per share.

 

 

Adjusted Funds From Operations of $8.1 million, or $0.24 per share.

 

 

Sold 51 properties in the quarter resulting in gains from dispositions of $5.7 million.

David B. Driscoll, Getty’s Chief Executive Officer commented, “As we reflect on 2013, we are proud of our team’s effort in generating meaningful improvement in our Adjusted Funds From Operations. The ongoing transformation of Getty into a Company that produces annual growth is progressing well. The combination of select acquisitions, coupled with the recycling of slower growth assets through strategic dispositions along with a focus on measurably lowering operating costs, is contributing to our improving performance. As we look to 2014, we are energized by organic growth opportunities available to us from our current portfolio of assets and from the external growth prospects that we continue to pursue. With a well-positioned capital structure and a low leveraged balance sheet, we believe we will enhance value for our shareholders in the coming years.”

Financial Results:

Net Earnings:

The Company reported net earnings for the quarter ended December 31, 2013 of $5.0 million, or $0.15 per share, as compared to $5.8 million, or $0.17 per share for the quarter ended December 31, 2012. The Company reported net earnings for the year ended December 31, 2013 of $70.0 million, or $2.08 per share, as compared to $12.4 million, or $0.37 per share for the year ended December 31, 2012.


The following information was filed by Getty Realty Corp (GTY) on Tuesday, March 4, 2014 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Commitments And Contingencies
Commitments And Contingencies - Additional Information (detail)
Credit Agreement And Prudential Loan Agreement
Credit Agreement And Prudential Loan Agreement - Additional Information (detail)
Employee Benefit Plans
Employee Benefit Plans (tables)
Employee Benefit Plans - Additional Information (detail)
Employee Benefit Plans - Schedule Of Activity Relating To Restricted Stock Units Outstanding (detail)
Employee Benefit Plans - Schedule Of Vesting Activity Relating To Restricted Stock Units Outstanding (detail)
Environmental Obligations
Environmental Obligations - Additional Information (detail)
Income Taxes
Income Taxes - Additional Information (detail)
Leases
Leases (tables)
Leases - Additional Information (detail)
Leases - Capitol Petroleum Group - Additional Information (detail)
Leases - Chestnut Petroleum Dist. Inc. - Additional Information (detail)
Leases - Future Contractual Minimum Annual Rentals Receivable (detail)
Leases - Future Contractual Minimum Annual Rentals Receivable (parenthetical) (detail)
Leases - Leasing Activities - Additional Information (detail)
Leases - Marketing And The Master Lease - Additional Information (detail)
Leases - Summary Of Selected Financial Data (detail)
Property Acquisitions
Property Acquisitions (tables)
Property Acquisitions - Acquired Intangible Assets - Additional Information (detail)
Property Acquisitions - Capitol Petroleum Group Sale/leaseback - Additional Information (detail)
Property Acquisitions - Cpd Ny Sale/leaseback - Additional Information (detail)
Property Acquisitions - Nouria Sale/leaseback - Additional Information (detail)
Property Acquisitions - Pro Forma Condensed Financial Information (detail)
Property Acquisitions - Schedule Of Amortization For Acquired Intangible Assets (detail)
Quarterly Financial Data
Quarterly Financial Data (tables)
Quarterly Financial Data - Additional Information (detail)
Quarterly Financial Data - Summary Of Quarterly Results Of Operations (detail)
Quarterly Financial Data - Summary Of Quarterly Results Of Operations (parenthetical) (detail)
Schedule Ii - Valuation And Qualifying Accounts And Reserves
Schedule Ii - Valuation And Qualifying Accounts And Reserves (detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization (detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization (parenthetical) (detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization - Additional Information (detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization - Schedule Of Changes In Real Estate Assets And Accumulated Depreciation (detail)
Schedule Iv - Mortgage Loans On Real Estate (detail)
Schedule Iv-mortgage Loans On Real Estate
Shareholders' Equity
Shareholders' Equity (tables)
Shareholders' Equity - Additional Information (detail)
Shareholders' Equity - Summary Of Changes In Shareholders' Equity (detail)
Shareholders' Equity - Summary Of Changes In Shareholders' Equity (parenthetical) (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (detail)
Summary Of Significant Accounting Policies - Schedule Of Assets And Liabilities Measured At Fair Value On Recurring Basis (detail)
Summary Of Significant Accounting Policies - Schedule Of Earnings (loss) From Discontinued Operations (detail)
Summary Of Significant Accounting Policies - Schedule Of Earnings Per Share (detail)
Summary Of Significant Accounting Policies - Schedule Of Real Estate Held For Sale (detail)
Supplemental Condensed Combining Financial Information
Supplemental Condensed Combining Financial Information (tables)
Supplemental Condensed Combining Financial Information - Supplemental Condensed Combining Statement Of Cash Flows (detail)
Supplemental Condensed Combining Financial Information - Supplemental Condensed Combining Statement Of Operations (detail)
Ticker: GTY
CIK: 1052752
Form Type: 10-K Annual Report
Accession Number: 0001193125-14-102352
Submitted to the SEC: Mon Mar 17 2014 4:16:46 PM EST
Accepted by the SEC: Mon Mar 17 2014
Period: Tuesday, December 31, 2013
Industry: Real Estate

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