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Previous: INTERCOUNTY BANCSHARES INC, DEF 14A, 1998-03-31 |
Next: CORNERSTONE IMAGING INC, 10-K, 1998-03-31 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934
Date of Report (Date of earliest event Commission File Number: 1-12358
reported): March 31, 1996
COLONIAL PROPERTIES TRUST
(Exact name of registrant as specified in its charter)
Alabama 59-7007599
(State of organization) (IRS Employer
Identification Number)
2101 Sixth Avenue North 35203
Suite 750 (Zip Code)
Birmingham, Alabama
(Address of principal executive offices)
(205) 250-8700
(Registrant's telephone number, including area code)
<PAGE>
COLONIAL PROPERTIES TRUST
Item 5. Other Events
The Registrant adopted Statement of Financial Accounting Standards No. 128,
"Earnings Per Share" (SFAS 128) effective with its Form 10-K for the year ending
December 31, 1997. The Registrant is filing as exhibits to this Form 8-K amended
Financial Data Schedules for interim periods in 1997 and 1996, and for the year
ending December 31, 1996. The Registrant has calculated earnings per share
amounts in accordance with SFAS 128 and entered basic and diluted amounts in
place of primary and fully diluted, respectively.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this amendment to be signed on its behalf by the
undersigned hereunto duly authorized.
COLONIAL PROPERTIES TRUST
Date: March 31, 1998 /s/ Howard B. Nelson, Jr.
-------------------------
Howard B. Nelson, Jr.
Chief Financial Officer
(Duly Authorized Officer
and Principal Financial Officer)
<PAGE>
COLONIAL PROPERTIES TRUST
Index to Exhibits
Exhibits
27.Q196 Financial Data Schedule - 1st Quarter 1996
27.Q296 Financial Data Schedule - 2nd Quarter 1996
27.Q396 Financial Data Schedule - 3rd Quarter 1996
27.1996 Annual Financial Data Schedule - Year Ending December 31, 1996
27.Q197 Financial Data Schedule - 1st Quarter 1997
27.Q297 Financial Data Schedule - 2nd Quarter 1997
27.Q397 Financial Data Schedule - 3rd Quarter 1997
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 0000909111
<NAME> Colonial Properties Trust
<MULTIPLIER> 1
<CURRENCY> U.S. Dollars
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> Dec-31-1996
<PERIOD-START> Jan-01-1996
<PERIOD-END> Mar-31-1996
<EXCHANGE-RATE> 1.000
<CASH> 8,255,258
<SECURITIES> 0
<RECEIVABLES> 1,607,559
<ALLOWANCES> 36,333
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 762,361,576
<DEPRECIATION> 84,528,000
<TOTAL-ASSETS> 707,443,800
<CURRENT-LIABILITIES> 0
<BONDS> 274,609,531
0
0
<COMMON> 176,469
<OTHER-SE> 282,090,840
<TOTAL-LIABILITY-AND-EQUITY> 707,443,800
<SALES> 0
<TOTAL-REVENUES> 29,606,954
<CGS> 0
<TOTAL-COSTS> 15,835,224
<OTHER-EXPENSES> 1,551
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 5,090,473
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 5,906,337
<DISCONTINUED> 0
<EXTRAORDINARY> 318,630
<CHANGES> 0
<NET-INCOME> 5,587,707
<EPS-PRIMARY> .34
<EPS-DILUTED> .34
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 0000909111
<NAME> Colonial Properties Trust
<MULTIPLIER> 1
<CURRENCY> U.S. Dollars
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Dec-31-1996
<PERIOD-START> Jan-01-1996
<PERIOD-END> Jun-30-1996
<EXCHANGE-RATE> 1.000
<CASH> 1,820,931
<SECURITIES> 0
<RECEIVABLES> 1,503,426
<ALLOWANCES> 24,229
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 778,959,825
<DEPRECIATION> 89,782,651
<TOTAL-ASSETS> 791,616,780
<CURRENT-LIABILITIES> 0
<BONDS> 354,885,585
0
0
<COMMON> 176,557
<OTHER-SE> 280,802,873
<TOTAL-LIABILITY-AND-EQUITY> 791,616,780
<SALES> 0
<TOTAL-REVENUES> 61,431,459
<CGS> 0
<TOTAL-COSTS> 32,908,867
<OTHER-EXPENSES> 43,735
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 10,230,852
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 11,054,722
<DISCONTINUED> 0
<EXTRAORDINARY> 478,240
<CHANGES> 0
<NET-INCOME> 11,532,962
<EPS-PRIMARY> .68
<EPS-DILUTED> .68
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 0000909111
<NAME> Colonial Properties Trust
<MULTIPLIER> 1
<CURRENCY> U.S. Dollars
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> Dec-31-1996
<PERIOD-START> Jan-01-1996
<PERIOD-END> Sep-30-1996
<EXCHANGE-RATE> 1.000
<CASH> 2,430,504
<SECURITIES> 0
<RECEIVABLES> 2,717,311
<ALLOWANCES> 19,464
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 841,942,162
<DEPRECIATION> 95,571,721
<TOTAL-ASSETS> 871,212,294
<CURRENT-LIABILITIES> 0
<BONDS> 431,542,723
0
0
<COMMON> 176,569
<OTHER-SE> 279,733,080
<TOTAL-LIABILITY-AND-EQUITY> 871,212,294
<SALES> 0
<TOTAL-REVENUES> 96,262,545
<CGS> 0
<TOTAL-COSTS> 51,331,803
<OTHER-EXPENSES> 171,632
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 16,614,047
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 28,488,327
<DISCONTINUED> 0
<EXTRAORDINARY> 487,503
<CHANGES> 0
<NET-INCOME> 18,447,352
<EPS-PRIMARY> 1.07
<EPS-DILUTED> 1.07
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 0000909111
<NAME> COLONIAL PROPERTIES TRUST
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1995
<CASH> 3,341,575
<SECURITIES> 0
<RECEIVABLES> 4,791,406
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 903,349,378
<DEPRECIATION> (101,549,355)
<TOTAL-ASSETS> 948,104,623
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 176,597
<OTHER-SE> 279,326,350
<TOTAL-LIABILITY-AND-EQUITY> 279,502,947
<SALES> 130,369,971
<TOTAL-REVENUES> 134,881,355
<CGS> 0
<TOTAL-COSTS> (70,352,674)
<OTHER-EXPENSES> (23,280,807)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> (24,584,298)
<INCOME-PRETAX> 41,247,874
<INCOME-TAX> 0
<INCOME-CONTINUING> 41,247,874
<DISCONTINUED> 0
<EXTRAORDINARY> (510,602)
<CHANGES> 0
<NET-INCOME> 27,505,806
<EPS-PRIMARY> 1.58
<EPS-DILUTED> 1.58
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> MAR-31-1997
<CASH> 2,284
<SECURITIES> 0
<RECEIVABLES> 4,839
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 866,068
<DEPRECIATION> 0
<TOTAL-ASSETS> 1,021,632
<CURRENT-LIABILITIES> 0
<BONDS> 534,927
0
0
<COMMON> 192
<OTHER-SE> 312,215
<TOTAL-LIABILITY-AND-EQUITY> 1,021,632
<SALES> 37,402
<TOTAL-REVENUES> 39,170
<CGS> 20,376
<TOTAL-COSTS> 20,376
<OTHER-EXPENSES> 8,505
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 8,488
<INCOME-PRETAX> 10,289
<INCOME-TAX> 0
<INCOME-CONTINUING> 10,289
<DISCONTINUED> 0
<EXTRAORDINARY> (384)
<CHANGES> 0
<NET-INCOME> 6,813
<EPS-PRIMARY> .37
<EPS-DILUTED> .36
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<CASH> 2,933
<SECURITIES> 0
<RECEIVABLES> 4,843
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 998,548
<DEPRECIATION> 0
<TOTAL-ASSETS> 1,107,123
<CURRENT-LIABILITIES> 0
<BONDS> 619,622
0
0
<COMMON> 192
<OTHER-SE> 308,754
<TOTAL-LIABILITY-AND-EQUITY> 1,107,123
<SALES> 77,657
<TOTAL-REVENUES> 81,993
<CGS> 43,305
<TOTAL-COSTS> 43,305
<OTHER-EXPENSES> 17,951
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 17,862
<INCOME-PRETAX> 20,737
<INCOME-TAX> 0
<INCOME-CONTINUING> 20,256
<DISCONTINUED> 0
<EXTRAORDINARY> (481)
<CHANGES> 0
<NET-INCOME> 13,955
<EPS-PRIMARY> .74
<EPS-DILUTED> .74
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> SEP-30-1997
<CASH> 3,254
<SECURITIES> 0
<RECEIVABLES> 5,440
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 1,085,175
<DEPRECIATION> 0
<TOTAL-ASSETS> 1,211,126
<CURRENT-LIABILITIES> 0
<BONDS> 694,989
0
0
<COMMON> 209
<OTHER-SE> 358,986
<TOTAL-LIABILITY-AND-EQUITY> 1,211,126
<SALES> 122,408
<TOTAL-REVENUES> 129,472
<CGS> 68,757
<TOTAL-COSTS> 68,757
<OTHER-EXPENSES> 50
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 28,846
<INCOME-PRETAX> 31,869
<INCOME-TAX> 0
<INCOME-CONTINUING> 31,869
<DISCONTINUED> 0
<EXTRAORDINARY> (3,408)
<CHANGES> 0
<NET-INCOME> 19,629
<EPS-PRIMARY> 1.01
<EPS-DILUTED> 1.01
</TABLE>
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