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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
Amendment To Report Filed
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report (date of earliest event reported): November 6, 1998
CarrAmerica Realty Corporation
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(Exact name of registrant as specified in its charter)
Maryland 1-11706 52-1796339
- ---------------------------- ----------- ------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File No.) Identification No.)
1850 K Street, N.W., Washington, D.C. 20006
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(Address of principal executive offices)
Registrant's telephone number, including area code: (202) 729-7500
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<PAGE>
FORM 8-K/A
ITEM 5. Other Events.
Attached hereto as Exhibit 99.1 is a copy of the Condensed Consolidated
Statements of Operations and the Condensed Consolidated Statements of EBITDA
included in the Supplemental Data included in the Company's press release, dated
November 5, 1998.
ITEM 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit
Number
------
This Amendment is being filed because the Rental Income and
the Total Operating Expense figures for the three months ended
September 30, 1998 on the Consolidated Statements of
Operations, and, the OmniOffices (UK) Limited EBITDA for the
three months ended September 30, 1998 and the G & A selling
expense for the nine months ended September 30, 1998 were
incorrect.
99.1 Amendment to Press Release, November 5, 1998, entitled
"Supplemental Data", "CarrAmerica Realty Corporation
and Subsidiaries, Condensed Consolidated Statements of
Operations" and "Condensed Consolidated Statements of
EBITDA".
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereto duly authorized.
Date: November 6, 1998
CARRMERICA REALTY CORPORATION
By: /s/ Brian K. Fields
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Brian K. Fields
Chief Financial Officer
Amendment No. 1
The undersigned registrant hereby amends Exhibit 99.1 of its current
report on Form 8-K filed with the Commission on November 5, 1998 as set forth in
the pages attached hereto to file a Condensed Consolidated Statements of
Operations and the Condensed Consolidated Statements of EBITDA.
<PAGE>
EXHIBIT INDEX
Exhibit
Number
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99.1 Amendment to Press Release, November 5, 1998, entitled
"Supplemental Data", CarrAmerica Realty Corporation and
Subsidiaries--Condensed Consolidated Statements of Operations
and Condensed Consolidated Statements of EBITDA.
CARRAMERICA REALTY CORPORATION AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------
(Unaudited and in thousands, except per common share amounts)
Three Months Ended Nine Months Ended
September 30, September 30,
-------------------- ---------------------
1998 1997 1998 1997
---- ---- ---- ----
<S> <C> <C> <C> <C>
Revenues:
Rental income (1) $113,657 87,855 320,950 231,832
Other real estate operating revenue:
Real estate service income 4,471 3,575 10,985 11,512
Executive suites revenue 46,860 5,000 97,169 5,000
Gain on sale of assets 6,844 -- 33,030 353
Interest and other income 2,676 824 7,451 1,980
-------- ------- -------- --------
Total operating revenue 174,508 97,254 469,585 250,677
-------- ------- -------- --------
Operating expenses:
Property operating expenses:
Operating expenses 30,033 23,653 78,223 60,664
Real estate taxes 9,897 7,876 28,858 21,256
Interest expense 19,560 14,275 54,137 37,266
Executive suites operating expenses 38,563 4,124 82,004 4,124
General and administrative 8,379 5,445 22,841 15,777
Depreciation and amortization 28,523 20,378 78,402 54,561
-------- ------- -------- --------
Total operating expenses 134,955 75,751 344,465 193,648
-------- ------- -------- --------
Net operating income before income taxes,
minority interest and extraordinary item 39,553 21,503 125,120 57,029
Income taxes (574) -- (574) --
-------- ------- -------- --------
Net operating income before minority interest
and extraordinary item 38,979 21,503 124,546 57,029
Minority interest (2,598) (2,022) (13,549) (5,758)
-------- ------- -------- --------
Income before extraordinary item 36,381 19,481 110,997 51,271
Extraordinary item - loss on early extinguishment
of debt -- (608) -- (608)
-------- ------- -------- --------
Net income $ 36,381 18,873 110,997 50,663
======== ======= ======== ========
Basic net income per common share:
Income before extraordinary item $ 0.38 0.29 1.25 0.88
Extraordinary item - loss on
early extinguishment of debt -- (0.01) -- (0.01)
-------- ------- -------- --------
Basic net income per common share $ 0.38 0.28 1.25 0.87
======== ======= ======== ========
Diluted net income per share:
Income before extraordinary item $ 0.37 0.29 1.25 0.87
Extraordinary item - loss on
early extinguishment of debt -- (0.01) -- (0.01)
-------- ------- ----------- --------
Diluted net income per share $ 0.37 0.28 1.25 0.86
======== ======= =========== ========
</TABLE>
NOTES:
(1) Rental income includes $3,508 and $3,390 of straight-line rents for the
three month periods ended September 30, 1998 and 1997, respectively,
and $10,754 and $7,177 of straight-line rents for the nine month
periods ended September 30, 1998 and 1997, respectively.
<PAGE>
CARRAMERICA REALTY CORPORATION AND SUBSIDIARIES
Condensed Consolidated Statements of EBITDA
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------
(Unaudited and in thousands)
OmniOffices, Inc. OmniOffices (UK) Limited
(Domestic) (International) (1)
Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended
September 30, September 30, September 30, September 30,
------------------ ----------------- ------------------ -----------------
1998 1997 1998 1997 1998 1997 1998 1997
---- ---- ---- ---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Revenues:
Rental income $27,970 3,009 57,936 3,009 2,736 -- 3,939 --
Other services and interest income 14,901 1,991 33,497 1,991 1,253 -- 1,797 --
------- ----- ------ ----- ----- --- ----- ---
Total operating revenue 42,871 5,000 91,433 5,000 3,989 -- 5,736 --
Expenses:
Operating expenses 21,638 2,460 44,705 2,460 2,688 -- 3,749 --
G & A selling expense 13,620 1,662 32,651 1,662 618 -- 899 --
------- ----- ------ ----- ----- --- ----- ---
Total expenses 35,258 4,122 77,356 4,122 3,306 -- 4,648 --
EBITDA 7,613 878 14,077 878 683 -- 1,088 --
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</TABLE>
(1) Acquired May 15, 1998
