EQK Realty Investors I third quarter results.ATLANTA--(BUSINESS WIRE)--Nov. 15, 1995--EQK Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Investors I (NYSE NYSE See: New York Stock Exchange symbol:EKR eKr Ennen Kristusta (Finnish: Before Christ) EKR Eigenkapitalrendite (German: Return on Equity) ) today reported its operating results for the three months ended Sept. 30, 1995, reporting a net loss of $3,802,000, or $0.41 per share, and Funds from Operations Funds From Operations (FFO) Used by real estate and other investment trusts to define the cash flow from trust operations; earnings with depreciation and amortization added back. of $895,000, or $0.10 per share. For the third quarter of 1994, the net loss was $620,000, or $0.07 per share, and Funds from Operations were $941,000, or $0.10 per share. The net loss in the third quarter of 1995 results include a real estate tax refund Tax refund Money back from the government when too much tax has been paid or withheld from a salary. of $400,000 ($0.04 per share) and a write-down Write-Down Reducing the book value of an asset because it is overvalued compared to the market value. Notes: This is usually reflected in the company's income statement as an expense, thereby reducing net income. of investment in Castleton Park of $3,200,000 ($0.35 per share). For the nine months ended Sept. 30, 1995, the company's net loss was $5,820,000, or $0.63 per share, and Funds from Operations was $2,350,000, or $0.25 per share. The year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. net loss also reflects the impact of the real estate tax refund and write-down of real estate investment for the comparable period in 1994, the net loss was $2,169,000, or $0.23 per share, and Funds from Operations was $2,531,000, or $0.27 per share. The company's real estate portfolio currently consists of two properties: Harrisburg East Mall in Harrisburg, Pa. and Castleton Park in Indianapolis, Indiana “Indianapolis” redirects here. For other uses, see Indianapolis (disambiguation). Indianapolis (IPA: [ˌɪndiəˈnæpəlɪs]) is the capital city of the U.S. . The company's operating statements operating statement See income statement. follow: -0-
EQK Realty Investors I
Statements of Operations
(in thousands, except per share amounts)
Three Months Nine Months
ended Sept. 30, Ended Sept. 30,
1995 1994 1995 1994
Revenues from rental
operations $3,990 $4,132 $12,069 $12,319
Operating expenses, net
of tenant reimbursements 1,257 1,401 4,119 4,309
Depreciation and
amortization 1,321 1,145 3,765 3,480
Real estate tax refund (400) -- (400) --
Write-down of investment
in real estate 3,200 -- 3,200 --
------- ------- ------- -------
Income (loss) from rental
operations (1,388) 1,586 1,385 4,530
Interest expense 2,173 2,035 6,469 6,077
Other expenses, net of
interest income 241 171 736 622
-------- ------- ------- -------
Net loss (3,802) (620) (5,820) (2,169)
Adjustments:
Depreciation/amortization 1,321 1,145 3,765 3,480
Write-down of investment
in real estate 3,200 -- 3,200 --
Real estate tax refund (400) -- (400) --
Imputed and deferred
interest 576 416 1,605 1,220
-------- ------- ------- -------
Funds from operations $ 895 $ 941 $ 2,350 $ 2,531 Loss per share $ (0.41) $ (0.07) $ (0.63) $ (0.23) Funds from operations per share $ 0.10 $ 0.10 $ 0.25 $ 0.27 Note: Per share calculations are based on 9,264,344 shares outstanding for all periods presented. CONTACT: EQK Realty Investors I, Georgia William G. Brown William Gay Brown can refer to:
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