American Realty Investors, Inc. Reports Fourth Quarter And Full Year 2009 Financial Results
American Realty Investors, Inc. (NYSE:ARL), a Dallas-based real estate investment company, today reported results of operations for the year ended December 31, 2009. ARL reported a net loss applicable to common shares of $72.6 million or $6.46 per share, as compared to prior year net income applicable to common shares of $20.1 million or $1.85 per share. Net loss for the three months ended December 31, 2009 was $26.3 million or $2.34 per share, as compared to prior year net loss applicable to common shares of $18.1 million or $1.61 per share for the three months ended December 31, 2008.
Results of the year ended December 31, 2009 to the same period ended December 31, 2008;
Rental revenues were $183.7 million for the twelve months ended December 31, 2009. The rental revenues for 2009, as compared to the same period in 2008, increased by $6.3 million, which by segment is an increase in apartment revenues of $11.3 million and an increase in commercial properties of $2.2 million, offset by a decrease in our hotels of $4.5 million and a decrease in our land and other segment of $2.7 million.
Property operating expenses were $107.2 million for the twelve months ended December 31, 2009. The property operating expenses for 2009, as compared to the same period in 2008, decreased by $8.2 million, which by segment is an increase in our apartments of $5.3 million, a decrease in our commercial properties of $3.6 million, a decrease in our land and other segments of $7.7 million, and a decrease in our hotels of $2.2 million.Depreciation expenses were $30.6 million for the twelve months ended December 31, 2009. The depreciation expense for 2009, as compared to the same period in 2008, increased by $3.5 million, which by segment is $3.4 million due to our apartments, $1.2 million due to our commercial buildings, and a decrease of $1.1 million due to our land and other holdings.
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