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| Vornado announces 2Q 2007 FFO of $1.72 per share New Jersey-based Vornado Realty Trust said net income applicable to common shares for the quarter ended June 30, 2007 was $151.6 million ($0.96/share), versus $148.8 million ($0.99/share), for the quarter ended June 30, 2006. Net income for the quarter ended June 30, 2006 also includes a $17.6 million net gain on sale of real estate. The aggregate of these items, net of minority interest, increased net income applicable to common shares for the quarter ended June 30, 2007 by $63.6 million ($0.39/share) and increased net income applicable to common shares for the quarter ended June 30, 2006 by $55.8 million ($0.36/share). Funds from operations applicable to common shares plus assumed conversions ("FFO") for the quarter ended June 30, 2007 was $281.7 million ($1.72/share), compared to $230.4 million ($1.49/share), for the quarter ended June 30, 2006. Net income applicable to common shares for the six months ended June 30, 2007 was $304.3 million ($1.92/share), versus $283.6 million ($1.90/share), for the six months ended June 30, 2006. Net income for the six months ended June 30, 2006 also includes $33.8 million for share of net gains on sale of real estate. The aggregate of these items, net of minority interest, increased net income applicable to common shares for the six months ended June 30, 2007 by $61.3 million ($0.37/share) and increased net income applicable to common shares for the six months ended June 30, 2006 by $62.5 million ($0.40/share). FFO for the six months ended June 30, 2007 was $551.9 million ($3.36/share), compared to $442.3 million ($2.86/share), for the six months ended June 30, 2006. write your comments about the article :: © 2007 Construction News :: home page |