PARKWAY, INC.
UNAUDITED PRO FORMA COMBINED STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 2016
(In thousands, except per share data)
(Unaudited)
| Revenues |
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| Income from office properties |
$ | 72,272 | ||
| Management company income |
1,305 | |||
|
|
|
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| Total revenues |
73,577 | |||
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|
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| Expenses |
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| Property operating expenses |
31,465 | |||
| Management company expenses |
781 | |||
| Depreciation and amortization |
22,527 | |||
| General and administrative |
4,809 | |||
|
|
|
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| Total expenses |
59,582 | |||
|
|
|
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| Operating income |
13,995 | |||
| Other income and expenses |
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| Interest and other income |
186 | |||
| Interest expense |
(8,118 | ) | ||
|
|
|
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| Income (loss) before income taxes |
6,063 | |||
| Income tax expense |
(493 | ) | ||
|
|
|
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| Net income (loss) |
5,570 | |||
| Net (income) attributable to noncontrolling interests |
(106 | ) | ||
|
|
|
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| Net income (loss) attributable to controlling interests |
5,464 | |||
| Dividends on non-voting preferred stock |
(75 | ) | ||
|
|
|
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| Net income (loss) attributable to common stockholders |
$ | 5,389 | ||
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|
|
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| Weighted average shares outstanding - Basic |
404,245 | |||
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|
|
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| Weighted average shares outstanding - Diluted |
412,114 | |||
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|
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| Basic and Diluted earnings per share |
$ | 0.01 | ||
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