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| Vornado reports a quarterly loss New Jersey based Vornado Realty Trust VNO.N, owner of office and retail properties, reported fourth quarter 2008 financial results. Net loss applicable to common shares for the quarter ended December 31, 2008 was $216.8 million, or $1.40 per diluted share, versus net income of $90.9 million, or $0.57 per diluted share, for the quarter ended December 31, 2007. Net loss for the quarter ended December 31, 2008 and net income for the quarter ended December 31, 2007 include $1.1 million and $43.9 million, respectively, of net gains on sale of real estate and certain other items that affect comparability, which are listed in the table below. Funds from operations for the quarter ended December 31, 2008 was a negative $78.0 million, or $0.50 per diluted share, compared to a positive $193.4 million, or $1.18 per diluted share, for the prior year's quarter. . Net income applicable to common shares for the year ended December 31, 2008 was $338.0 million, or $2.14 per diluted share, versus $511.7 million, or $3.23 per diluted share, for the year ended December 31, 2007. write your comments about the article :: © 2009 Construction News :: home page |