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June 12, 2007
Forest City posts Q1 2007 decline
New Mexico Business Weekly
Folks in Yonkers and Brooklyn aren't the only ones watching Forest City's (FCE) financial disclosures. FCE's Mesa Del Sol project is one of the largest mixed-use development projects in the nation:
Forest City Enterprises Inc. reported a net loss of $17.2 million, or 17 cents per share, for the first quarter ended April 30, 2007. That compares to net earnings of $53.3 million, or 52 cents per share, in the same quarter last year.
Company officials said the primary reason for the difference in net earnings for the quarters was the gain on the disposition of a hotel property in 2006 with no similar transaction in 2007. First quarter consolidated revenues were $280.6 million compared with $272.2 million last year.
Posted by lumi at June 12, 2007 7:24 AM