Tower Properties Company (TPRP)

Tower Properties Company Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2011	FY 2010	FY 2009	FY 2008	FY 2007
Period Ending	Mar 31, 2012	Dec 31, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008	Dec 31, 2007
Rental Revenue	24.86	23.57	20.86	20.69	20.53	18.83
Property Management Fees	0.86	0.83	0.68	0.73	1.25	1.34
Gain (Loss) on Sale of Assets (Rev)	1.39	1.39	-0.01	-0.01	-0.22	-0.04
Total Revenue	27.1	25.79	21.53	21.42	21.55	20.12
Revenue Growth (YoY	24.86%	19.81%	0.50%	-0.60%	7.07%	-34.23%
Property Expenses	7.61	7.69	7.63	6.8	6.83	6.52
Selling, General & Administrative	1.77	1.68	1.62	1.81	2.38	1.83
Depreciation & Amortization	8.17	7.39	5.72	5.57	5.66	5.54
Other Operating Expenses	2.68	2.58	2.44	2.38	2.3	2.06
Total Operating Expenses	20.23	19.34	17.41	16.56	17.17	15.95
Operating Income	6.88	6.45	4.12	4.86	4.38	4.17
Interest Expense	-5.74	-5.41	-4.81	-4.9	-4.74	-4.58
Interest & Investment Income	0.58	0.55	0.49	0.5	0.86	1.2
EBT Excluding Unusual Items	1.72	1.59	-0.2	0.46	0.5	0.79
Pretax Income	1.72	1.59	-0.2	0.46	0.5	0.79
Income Tax Expense	0.45	0.4	-0.12	0.01	0.31	0.31
Net Income	1.27	1.19	-0.08	0.45	0.18	0.48
Net Income to Common	1.27	1.19	-0.08	0.45	0.18	0.48
Net Income Growth	17814.52%	-	-	144.81%	-61.66%	-91.32%
Operating Margin	25.37%	25.00%	19.12%	22.69%	20.32%	20.72%
Profit Margin	4.67%	4.61%	-0.38%	2.10%	0.85%	2.39%
EBITDA	15.05	13.84	9.84	10.45	10.07	9.78
EBITDA Margin	55.52%	53.66%	45.72%	48.79%	46.72%	48.62%
D&A For Ebitda	8.17	7.39	5.73	5.59	5.69	5.61
EBIT	6.88	6.45	4.12	4.86	4.38	4.17
EBIT Margin	25.37%	25.00%	19.12%	22.69%	20.32%	20.72%
Effective Tax Rate	26.26%	25.00%	-	2.56%	63.08%	39.00%
Revenue as Reported	27.68	26.34	22.02	21.92	22.41	21.32

Updated May 16, 2012. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.