Parkway Properties, Inc. (PKY) posted a first-quarter net loss attributable to common stockholders of $3.8 million or $0.07 per share, as against a profit of $1.9 million or $0.09 per share in the same quarter last year.
Funds from operations, or FFO, available to common stockholders for the current quarter was $17.2 million or $0.30 per share, compared to FFO $10.1 million or $0.43 per share in the same quarter last year.
Recurring FFO for the quarter was $18.7 million or $0.33 per share, compared to $10.3 million or $0.43 per share in the year-ago quarter.
On average, 9 analysts polled by Thomson Reuters expected the company to earn $0.27 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the latest quarter rose to $72.11 million from $50.58 million last year, while five analysts expected revenues of $58.59 million for the quarter.
Looking ahead to fiscal 2013, Parkway scaled down its FFO outlook between a range of $1.10 to $1.20 per share to range between $1.17 and $1.27 per share. On an adjusted basis, the company expects FFO to range between $1.20 and $1.30 per share. Analysts currently expect the company to earn $1.24 per share for the full year 2013.
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