Glimcher Realty Trust (GRT) Wednesday reported first-quarter funds from operations, or FFO, of $14.3 million or $0.10 per share, down from $14.5 million or $0.12 per share in the prior-year quarter.
Adjusted FFO for the quarter was $23.6 million or $0.16 per share. On average, nine analysts polled by Thomson Reuters expected the company to report FFO of $0.15 per share for the quarter. Analysts' estimates typically exclude special items.
Net loss for the quarter widened to $13.9 million from $11.4 million last year. On a per share basis, loss was $0.10 per share, flat with last year.
Revenues totaled $91.0 million, up from $69.8 million last year. Analysts expected revenues of $79.82 million.
Looking ahead to the second quarter, the company has forecast FFO in the range of $0.15 to $0.17 per share. Analysts expect FFO of $0.16 per share. The company expected to report earnings in the range of negative $0.01 to $0.01 per share.
For the fiscal year 2013, the company anticipates FFO in the range of $0.63 to $0.67 per share. Analysts expect full-year FFO of $0.69 per share.
The company also expects to report a full-year loss in the range of $0.11 to $0.07 per share.
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