Top 5 From This Section
- Scotiabank achieved record net income
- Veeva Systems revenues increased 54%
- Americas Petrogas net revenue increased to $42.4 million in 9M
- NTR's EBITDA up 336%
- UTi Worldwide Q3 2014 revenues flat
Don't Miss Most Read
- Time to visit Lucerne
- For a polio-free world
- You can't beat the numbers: Windows 7 retail ends
- Women in Europe still work 59 days 'for free'
- Akamai to buy Prolexic for $370 million
- Welcome to the smiling coast
- The heart of Venezuela
- Luxury Equus finally revealed
- Large, quiet, green - the new Murano
- Cover that wall!
- Beautiful heat
- Venerable Rotel and its 12 Series
- Tube sound for your ears
- One of the earliest known infections
- The most painful type of arthritis
- UK to give 100m pounds for small businesses broadband
- Dubai foreign trade hits AED 1 trillion
- Accident avoidance: from audio warning to vibrating steering wheel
- Army developing tool to reduce altitude sickness
Download Windows Gadget
Forest City Enterprises Q2 net loss $16.3 millionMonday 9 September 2013 14:49 CEST
Forest City Enterprises announced FFO, Operating FFO, net earnings/loss and revenues for the year to date and the second quarter ended July 31, 2013. Q2 FFO was $78.7 million, compared with $21.1 million Q2 2012.
On a fully diluted, per-share basis, second-quarter 2013 FFO (funds from operations) was $0.37, compared with $0.11 in 2012. Year-to-date FFO was $131.8 million, or $0.62 per share, compared with $110.2 million, or $0.53 per share, for the first six months of 2012.
For the quarter, positive factors impacting the year-over-year FFO variance included lower losses on land held for divestiture of $45.4 million, increased gains on extinguishment of debt of $26 million, and decreased write-offs of abandoned development projects of $10.2 million.
These were partially offset by $13.9 million of reduced capitalized interest on projects under construction and development, and the change in fair market value of nondesignated derivatives which were marked to market through interest expense of $11.6 million.
Second-quarter Operating FFO was $48.3 million, compared with $62 million in the second quarter of 2012. Year-to-date Operating FFO was $80.6 million, compared with $120 million for the first six months of 2012.
The second-quarter net loss attributable to Forest City Enterprises, Inc. was $16.3 million, compared with a net loss of $43.7 million in the second quarter of 2012. The net loss for the six months ended July 31, 2013, was $35.6 million, compared with a net loss of $21 million for the same period in 2012.
The second-quarter net loss attributable to Forest City Enterprises, Inc. common shareholders was $16.3 million, or $0.08 per share, compared with a net loss of $47.6 million, or $0.28 per share, in the same period in 2012.
For the first six months of 2013, the net loss attributable to common shareholders was $35.8 million, or $0.19 per share, compared with a net loss of $28.7 million, or $0.17 per share for the first six months of 2012. Per-share amounts are on a fully diluted basis.