Cogdell Spencer's management expects that FFO per share and operating partnership unit for the year ending December 31, 2007 will be between $1.14 and $1.23. A reconciliation of the range of projected net loss to projected FFO for the year ending December 31, 2007 is below:
(In thousands, except per share and
operating partnership unit data)
Net loss before minority interests
in Operating Partnership $(9,200) -- $(8,800)
Plus real estate related
depreciation and amortization 27,000 -- 28,000
Less gain from sale of real estate
property and partnerships - -- -
Funds from Operations (FFO) $17,800 -- $19,200
FFO per share and unit - diluted $1.14 -- $1.23
Weighted average shares and units
outstanding - diluted 15,600 15,600
Supplemental operating and financial data are available in the Investors Relations section of the Company's Web site at http://www.cogdellspencer.com.
The reported results are unaudited and there can be no assurance that the results will not vary from the final information for the three months and nine months ended September 30, 2007. In the opinion of management, all adjustments considered necessary for a fair presentation of these reported results have been made.
FFO is a supplemental non-GAAP financial measure used by the real
estate industry to measure the operating performance of real estate
companies. The Company presents FFO because it considers it an important
supplemental measure of operational performance and believes it is
frequently used by securities analysts, investors and other interested
parties in the evaluation of REITs, many of wh
|SOURCE Cogdell Spencer Inc.|
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