Ryman Hospitality Properties Inc. (RHP) reported that its first-quarter funds from operations or FFO was $85.8 million or $1.29 per share, compared to $38.5 million or $0.77 per share in the comparable quarter last year.
Adjusted funds from operations or AFFO declined to $23.5 million or $0.35 per share from $30.6 million or $0.61 per share in the year-ago period.
Net income for the quarter was $53.8 million, or $0.81 per share, compared to $6.0 million, or $0.12 per share, in the prior-year quarter.
Total revenues for the latest first quarter was $222.11 million, compared with $238.92 million in the comparable quarter last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.32 per share on revenues of $245.19 million for the quarter. Analysts' estimates typically exclude special items.
For fiscal 2013, the company expects adjusted funds from operations or AFFO of $4.09 to $4.34 per share, up from its previous range of $4.03 to $4.27 per share.
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