COLUMBUS, OH, July 22 /PRNewswire-FirstCall/ -- Glimcher Realty Trust (NYSE:GRT) today announced financial results for the second quarter ended June 30, 2009.A description and reconciliation of non-GAAP financial measures to GAAP financial measures is contained in a later section of this press release.
References to per share amounts are based on diluted common shares. Net loss to common shareholders during the second quarter of 2009 was $1.3 million, or $0.03 per share, as compared to net income of $1.3 million, or $0.03 per share, in the second quarter of 2008.
Funds From Operations ("FFO") during the second quarter of 2009 was $18.1 million compared to $20.5 million in the second quarter of 2008. On a per share basis, FFO during the second quarter of 2009 was $0.44 per share compared to $0.50 per share for the second quarter of 2008
."We continue to navigate through this difficult economic environment with an experienced team and a sharp focus on execution of our business plan," stated Michael P. Glimcher (top right photo), Chairman of the Board and CEO. "We have been encouraged by the relative stability of our core mall portfolio and believe it is well positioned for growth as the economy recovers."
For a complete copy of the company's news release and financials, please contact:
Mark E. Yale, Executive V.P., CFO, +1-614-887-5610, myale@glimcher.com,
Lisa A. Indest, V.P., Finance and Accounting, +1-614-887-5844, lindest@glimcher.com
Web Site: http://www.glimcher.com/
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