Year Ending December 31, 2008
Low High
(In thousands, except per share and
operating partnership unit data)
Net loss before minority interests
in Operating Partnership $(6,900) - - $(5,900)
Plus real estate related depreciation
and amortization 27,500 - - 27,500
Funds from Operations (FFO) 20,600 - - 21,600
Plus amortization of intangibles
related to purchase accounting,
net of income tax benefit 8,150 - - 8,150
Funds from Operations Modified (FFOM) $28,750 - - $29,750
FFO per share and unit - diluted $0.86 - - $0.90
FFOM per share and unit - diluted $1.20 - - $1.24
Weighted average shares and units
outstanding - diluted 24,000 - - 24,000
Supplemental operating and financial data are available in the Investor 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 and nine months ended September 30, 2008. 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. FFOM adds back to traditionally defined FFO non-cash
amortization of non-real estate related intangible assets associated with
purchase accounting. The Company presents FFO and FFOM because it considers
them important supplemental meas
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