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June 9, 2007
Forest City Ratner Fiscal 2007 First-Quarter Results
Yonkers Tribune
First-quarter EBDT (Earnings Before Depreciation, Amortization and Deferred Taxes) was $34.5 million, or $0.32 per share, compared with last year's EBDT of $63.3 million, or $0.61 per share. Fiscal 2007 first-quarter net loss was $17.2 million, or $0.17 per share, compared with net earnings of $53.3 million, or $0.52 per share, in the 2006 first quarter. The primary difference in net earnings for the quarters was the gain on 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.
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At the end of the first quarter, Forest City had more than 20 projects under development, representing in excess of $2.6 billion of cost on a full consolidation basis and at the Company's pro-rata share. Not yet included in the development pipeline are two other large mixed-use projects: Brooklyn Atlantic Yards in Brooklyn, New York, where site demolition began during the first quarter...
Posted by amy at June 9, 2007 8:16 AM