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 reported):
February 6, 2004
HOME PROPERTIES, INC.
(Exact name of Registrant as specified in its Charter)
MARYLAND 1-13136 No. 16-1455126
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification Number)
850 Clinton Square, Rochester, New York 14604
www.homeproperties.com
(Address of principal executive offices and internet site)
(585) 546-4900
(Registrant's telephone number, including area code)
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
c. Exhibits
Exhibit 99.1 Press Release
ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On February 6, 2004, the Registrant issued a press release announcing its
results for the fourth quarter of 2003. The related press release is attached
hereto as Exhibit 99.1. The information in this Current Report is being
furnished pursuant to Item 12, Results of Operations and Financial Condition.
The attached press release includes a presentation of Home Properties'
Funds from Operations ("FFO") and Net Operating Income ("NOI"). FFO does and NOI
may fall within the definition of "non-GAAP financial measure" set forth in Item
10(e) of Regulation S-K and as a result Home Properties is or may be required to
include in this Current Report a statement disclosing the reasons why management
believes that presentation of these measures provides useful information to
investors. The Company believes that FFO is helpful to investors as a
supplemental measure of the operating performance of a real estate company
because, along with cash flows from operating activities, financing activities
and investing activities, it provides investors an understanding of the ability
of the Company to incur and service debt and to make capital expenditures. Home
Properties believes that NOI is helpful to investors as a supplemental measure
of the operating performance of a real estate company because it is a direct
measure of the actual operating results of the Company's apartment properties.
The Company also uses these two measures to compare its performance to that of
its peer group.
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 thereunto duly authorized.
Dated: February 6, 2004 HOME PROPERTIES, INC.
(Registrant)
By: /s/ David P. Gardner
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David P. Gardner, Executive Vice President
and Chief Financial Officer