Ramco-Gershenson Properties Trust Reports Financial Results for the Fourth ...
22.05.12
FFO for the three months ended December 31, 2011, was $(1.2) million or
$(0.03) per diluted share, compared to FFO of $17.7 million, or $0.44
per diluted share for the same period in 2010. Adjusting for one-time,
non-cash items in both periods, FFO for the three months ended December
31, 2011 was $9.0 million or $0.22 per share, compared to FFO of $8.1
million, or $0.20 per diluted share in 2010. The one-time, non-cash
items impacting FFO for the three months ended December 31, 2011 were a
$1.2 million gain on extinguishment of debt and an $11.5 million
provision for impairment on land available for sale. The one-time,
non-cash items impacting FFO for the three months ended December 31,
2010 were a $9.8 million bargain purchase gain on the acquisition of
real estate and a $0.2 million loss on extinguishment of debt.
FFO for the twelve months ended December 31, 2011, was $29.5 million or
$0.71 per diluted share, compared to FFO of $20.9 million, or $0.55 per
diluted share for the same period in 2010. Adjusting for one-time,
non-cash items in both periods, FFO for the twelve months ended December
31, 2011 was $41.7 million or $1.01 per share, compared to FFO of $40.1
million, or $1.05 per diluted share in 2010. The one-time, non-cash
items impacting FFO for the twelve months ended December 31, 2011 were
an $0.8 million loss on extinguishment of debt and an $11.5 million
provision for impairment on land available for sale. The one-time,
non-cash items impacting FFO for the twelve months ended December 31,
2010 were a $9.8 million bargain purchase gain on the acquisition of
real estate, a $0.2 million loss on extinguishment of debt, and a $28.7
million provision for impairment for land available for sale. Diluted
weighted average shares and equivalents outstanding at December 31, 2011
were 41.4 million compared to 38.1 million for the same period in 2010.
Source: Business Wire (press release)