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PRO FORMA FINANCIAL INFORMATION
3 Months Ended
Mar. 31, 2013
PRO FORMA FINANCIAL INFORMATION  
PRO FORMA FINANCIAL INFORMATION

14.  PRO FORMA FINANCIAL INFORMATION

 

During the three months ended March 31, 2013 and 2012, the Company acquired one self-storage facility for an aggregate purchase price of approximately $6.9 million (see note 4) and 37 self-storage facilities for an aggregate purchase price of approximately $432.3 million, respectively.

 

The condensed consolidated pro forma financial information set forth below reflects adjustments to the Company’s historical financial data to give effect to each of the acquisitions and related financing activity (including the issuance of common shares) that occurred during 2013 and 2012 as if each had occurred as of January 1, 2012 and 2011, respectively.  The unaudited pro forma information presented below does not purport to represent what the Company’s actual results of operations would have been for the periods indicated, nor does it purport to represent the Company’s future results of operations.

 

The following table summarizes, on a pro forma basis, the Company’s consolidated results of operations for the three months ended March 31, 2013 and 2012 based on the assumptions described above:

 

 

 

Three Months Ended March 31,

 

 

2013

 

2012

 

 

(in thousands, except per share data)

 

 

 

 

 

Pro forma revenue

 

  $

78,581  

 

  $

73,792  

Pro forma net loss from continuing operations

 

  $

(650) 

 

  $

(1,833) 

Net loss per common share from continuing operations

 

 

 

 

Basic and diluted - as reported

 

  $

(0.02) 

 

  $

(0.05) 

Basic and diluted - as pro forma

 

  $

0.00  

 

  $

(0.01) 

 

The following table summarizes the Company’s revenue and earnings related to the 2013 and 2012 acquisitions from the respective acquisition dates in the period they were acquired, included in the consolidated income statement for the three months ended March 31, 2013 and 2012:

 

 

 

 

Three months ended March 31,

 

 

2013

 

2012

 

 

(in thousands)

Total revenue

 

   $

33 

 

   $

840 

Net loss

 

(52)

 

(369)