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Income Statement
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American Realty Capital Trust, Inc. (ARCT)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-11Dec-31-10Dec-31-09Dec-31-08
   10-K/A10-K/A10-K/A10-K
Revenues   [+]129.144.815.09.0
            Revenue growth  188.4%199.2%66.6% 
Cost of goods sold  0.00.00.03.4
Gross profit  129.144.815.05.5
            Gross margin  100.0%100.0%100.0%61.7%
Selling, general and administrative   [+]4.21.40.50.4
Equity in earnings  0.1   
Other operating expenses  10.91.40.13.1
EBITDA   [+]114.242.014.35.2
            EBITDA margin  88.4%93.8%95.6%57.5%
Depreciation  54.817.36.72.5
EBITA  59.424.77.72.6
            EBITA margin  46.0%55.2%51.1%29.3%
Amortization of intangibles  14.24.41.70.5
EBIT   [+]45.220.36.02.1
            EBIT margin  35.0%45.4%40.1%23.4%
Non-recurring items  30.012.50.5 
Interest expense  37.418.110.44.8
Other income (expense), net   [+]-1.80.60.5-1.6
Pre-tax income  -24.0-9.7-4.3-4.3
Income taxes  1.10.20.00.0
            Tax rate    1.1%0.0%
Minority interest  -1.1-0.20.0 
Net income  -22.8-9.5-4.4-4.3
            Net margin  -17.7%-21.2%-29.2%-47.7%
   
Basic EPS   [+]($0.20)($0.31)($0.74)($6.02)
Diluted EPS   [+]($0.20)($0.31)($0.74)($6.02)
   
Dividends per share   [+]$0.43$0.38$0.32 
   
Shares outstanding (basic)   [+]114.230.65.90.7
Shares outstanding (diluted)   [+]114.230.65.90.7
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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