Strategic Hotels & Resorts, Inc. (BEE) reported a narrow net loss attributable to shareholders of $23.4 million or $0.12 per share in the first quarter, compared to $31.5 million or $0.17 per share in the same quarter last year, reflecting improved revenues from the year-ago quarter.
Comparable funds from operations, or FFO, for the quarter was $2.3 million or break-even per share, down from $3.1 million or $0.02 per share a year ago.
On average, 8 analysts polled by Thomson Reuters expected earnings of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter rose to $201.46 million from $178.27 million in the comparable quarter prior year, while 7 analysts expected revenues of $200.43 million for the quarter.
Looking ahead to the full-year 2013, the company reaffirmed its comparable FFO outlook and continues to expect it in a range between $0.33 and $0.40 per share. Analysts now expect the company to earn $0.38 per share for 2013.
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