SAUL CENTERS, INC.
Income Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $226.3M | $217.0M | $209.1M | $207.1M | $197.9M | $190.1M | $173.9M | $163.1M |
| Cost of Revenue | $54.7M | $53.7M | — | — | — | — | — | — |
| Gross Profit | $171.6M | $163.3M | $157.9M | $157.6M | $150.0M | $142.8M | $128.8M | $121.1M |
| Gross Margin | 75.8% | 75.3% | 75.5% | 76.1% | 75.8% | 75.1% | 74.1% | 74.3% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $18.2M | $17.5M | $16.4M | $17.0M | $15.0M | $14.3M | $14.3M | $14.0M |
| Operating Income | $60.6M | $55.7M | $52.9M | $51.9M | $35.3M | $35.1M | $31.4M | $44.0M |
| Operating Margin | 26.8% | 25.7% | 25.3% | 25.1% | 17.8% | 18.5% | 18.1% | 27.0% |
| Interest Expense | $47.2M | $46.9M | $45.9M | $45.4M | $45.5M | $48.0M | $45.7M | $40.5M |
| Pretax Income | — | — | — | — | — | — | — | — |
| Income Tax Expense | — | — | — | — | — | — | — | — |
| Net Income | $48.3M | $45.3M | $42.5M | $46.9M | $30.9M | $33.4M | $26.7M | $36.8M |
| Net Margin | 21.3% | 20.9% | 20.3% | 22.7% | 15.6% | 17.6% | 15.4% | 22.5% |
| EPS (Basic) | $1.64 | $1.53 | $1.42 | $1.55 | $0.57 | $0.93 | $0.61 | $1.18 |
| EPS (Diluted) | $1.63 | $1.52 | $1.42 | $1.54 | $0.57 | $0.93 | $0.61 | $1.18 |
| Shares Outstanding (Basic) | 21.9M | 21.5M | 21.1M | 20.8M | 20.4M | 19.6M | 18.9M | 18.3M |
| Shares Outstanding (Diluted) | 22.0M | 21.6M | 21.2M | 20.8M | 20.4M | 19.7M | 18.9M | 18.4M |
| Dividends Per Share | $2.04 | $1.84 | $1.69 | $1.56 | $1.44 | $1.44 | $1.44 | $1.44 |