LANDED PROPERTY IN CONTINUING PROPERTY, new jersey, December. 13 /PRNewswire FirstCall/ — Monmouth real estate investment Korporation (the company) reported terminated Septembers 30, on the net income, which is applicable to general shareholders of $8.948.000 or of $0.41 per general portion for the year, 2007, compared with $6.166.000 or $0.32 per general portion for the year terminates Septembers 30, 2006. A summary of the important financial information for the years terminated Septembers 30, 2007 and 2006 is, as follows:
2007 2006 renting and remuneration income $ 29.255.000 $ 25.594.000 Gesamtkosten$ 15.556.000 $ 12.679.000 interest and Dividendenertrag$ 1.467.000 $ 1.028.000 profit to collateral negotiations, Netto$ 157,000 $ 51,000 incomes of adjusted of enterprises $ 4.439.000 $ 470,000 Reineinkommen$ 10.818.000 $ 6.166.000 net incomes applicably to general Aktionaer$ 8.948.000 $ 6.166.000 net incomes applicably to general shareholders per Anteil$ 41 $ 32
FFO (1) $ 11.397.000 $ 11.753.000 FFO pro general portion of (1) $ 54 $ 60 loaded Avg. Common spent shares 21.051.000 19.555.000
A summary of the important balance information starting from Septembers 30, 2007 and 2006 is, as follows:
Septembers 30, September 30, subordinated 320.197.000 $ 220.211.000 shares, which are present for sales $ 13.437.000 $ 10.396.000 Gesamtwert$ 366.908.000 $ of 241.907.000 secured certificates of indebtedness payable $ 174.352.000 $ 122.194.000, to 2007 2006 totalmaterial estate investments $ convertible bonds $ 14.990.000 $ - payable $ 2.500.000 $ 8.219.000 of the loans cheapness $ 167.214.000 $ 107.567.000 of the total shareholders
Eugene W. Landy, Praesident, commentated the results fiscal yearly 2007, “management will fallen with the results. The company accomplished successfully five projects, as follows:
— in December 2006 the company published successfully 1.322.500 portions of 7.625% row a cumulative pay offable preferential stock in a general request. Net proceeds of $32 million improved capital resources of the company.
— on July 31, 2007, accomplished the company the strategic combination with Monmouth Capital corporation and increased the size of the briefcase by fourteen characteristics. The combination also increased substantially the capital of the company.
— in August 2007, the company successfully accomplished the organization of a free characteristic, and $4,6 million on the sales of this characteristic result in the realization of a profit. In agreement with the definition of the company of FFO, no this profit in FFO one included. Additionally this sales eliminates approximately $500,000 in the annual expenses, which are referred on this characteristic, which had been free since December 2006.
— during 2007, the company was successful in renewing rents running off. The company was also successful, if it rented a characteristic, which had been free. Of our approximate 6,0 million square foot rough leasable range, 98% are now occupied.
— the company continued its program of acquiring the commercial property dependent on three-way Nettomieteinvestmentgrad tenants for its briefcase, by acquiring three new characteristics fiscal 2007.
These new favourable developments, connected with our strong balance, provide our 41st for a strong prospect for fiscal 2008, year of the Betriebes.”zur order Monmouth material estate investment Korporation are a publicly possessed real estate investment confidence, which specializes in net-rent-commercial property. The Gundkapital of an enterprise briefcase consists of fifty eight commercial property and the shopping centre, which is convenient in twenty-six conditions. Additionally the company possesses a briefcase RIDES collateral. (1) Non GAAP information: FFO is defined as net income, which is applicable to general shareholders, excluding the profits or the losses of the sales of the copyable values, plus material writing-off and repayment standing condition in connection. FFO per general portion is defined as FFO, which is divided by the loaded average general spent shares. FFO and FFO per general portion should be regarded as additional mass of the operational behaviour used by material estate investment trusts (REITs). FFO and FFO per general portion exclude historical kostenabschreibung as expenses and can comParison from REITs facilitate, which have different cost reason situation. The individual parts, which are excluded from FFO and from FFO per general portion, are important components, if they understand the financial achievement of the company. FFO and FFO per general portion of (A) do not represent circulation of money of the enterprises, how defines by generally valid balance principles; (B) should not be regarded as alternative to the net income as measure of the operational behaviour or to the circulations of money of functioning, of investing and of financing activities; and (C) are not alternatives to the circulation of money as measure of liquidity. FFO and FFO per general portion, how from the company calculates, cannot be comparable with the similarly permitted masses possibly, which are reported by other REITs. The FFO of the company and FFO per general portion for the years terminates Septembers 30, 2007 and 2006 is calculated, as follows:
2007 2006
Accumulated one preferential loss of the Reineinkommen-$10.818.000 referred $6.166.000 of the dividend (2.080.000) - (profit) rent 5.179.000 on enterprises adjusted 79,000 10,000, the repayment of at the place of assembly immaterial intangible assets 736,000 370,000 FFO $11.397.000 $11.753.000 on sales of investment property (4.635.000) 28,000 writing-off expenditure of the Abschreibungsaufwand-6.479.000
Loaded Ave. Common spent shares 21.051.000 19.555.000 FFO pro general portion of $,54 $.60
The following is the circulations of money, to be made available (used) from functioning, of investing and from financing activities for the years terminates Septembers 30, 2007 and 2006:
2007 2006
Functioning activities 13.224.000 11.992.000 investing activities (25.527.000) (32.691.000) financing activities 21.668.000 16.806.000
The following is the income per general portion for the years terminates Septembers 30, 2007 and 2006:
2007 2006 BASIC INCOME - PRO PORTION
Income of continuing enterprises $,30 $,30 less: Accumulated one preferential dividend (10) - incomes of adjusted enterprises 21 02 minority participation - - net incomes applicably to general shareholders - fundamental $,41 $.32
DILUTED INCOME - PRO PORTION
Income of continuing enterprises $,30 $,29 less: Accumulated one preferential dividends (10) - incomes of adjusted enterprises 21 02 minority participation - - net incomes applicably to the general shareholders - dilutes $,41 $.31
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