Fourth Quarter 2010 Financial Results
Net income applicable to Common Shares for the quarter ended December 31, 2010 was $3.8 million, or $0.14 per Common Share, compared with a net loss of ($6.0) million, or ($0.34) per Common Share for the quarter ended December 31, 2009.
For the quarter ended December 31, 2010, the Company reported Funds from Operations applicable to Common Shares (FFO) of $8.3 million, or $0.31 per Common Share, compared with negative FFO of ($2.0) million, or ($0.11) per Common Share for the quarter ended December 31, 2009.
Year Ended December 31, 2010 Financial ResultsNet income applicable to Common Shares for the year ended December 31, 2010 was $16.2 million or $0.72 per Common Share as compared with a net loss of ($84.5) million or ($5.19) per Common Share for the year ended December 31, 2009. FFO for the year ended December 31, 2010 was $32.4 million, or $1.41 per Common Share, compared with negative FFO of ($70.4) million, or ($4.32) per Common Share for December 31, 2009. Supplemental Financial Information Further details regarding financial results, properties and tenants can be accessed at www.winthropreit.com in the Investor Relations section. First Quarter 2011 Dividend Declaration The Company's Board of Trustees declared a dividend for the first quarter of 2011 of $0.1625 per Common Share payable on April 15, 2011 to common shareholders of record on March 31, 2011. The Company also has declared the regular quarterly cash dividend of $0.40625 per Series B-1 Preferred Share and per Series C Preferred Share which is payable on April 29, 2011 to the holders of Series B-1 Preferred Shares or Series C Preferred Shares, as applicable, of record on April 18, 2011. Conference Call Information The Company will host a conference call to discuss its fourth quarter and full year end 2010 results today, Thursday, March 3, 2011 at 2:00 pm Eastern Time. Interested parties may access the live call by dialing (877) 407-9205 or (201) 689-8054, or via the Internet at www.winthropreit.com within the News and Events section. A replay of the call will be available through April 6, 2011 by dialing (877) 660-6853; account #286, confirmation #361604. An online replay will also be available through April 3, 2011. About Winthrop Realty Trust Winthrop Realty Trust is a real estate investment trust (REIT) that owns, manages and lends to real estate and related investments, both directly and through joint ventures. Winthrop Realty Trust is listed on the New York Stock Exchange and trades under the symbol "FUR." The Company has executive offices in Boston, Massachusetts and Jericho, New York. For more information please visit www.winthropreit.com. Forward-Looking Statements "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. The statements in this release state the Company's and management's hopes, intentions, beliefs, expectations or projections of the future and are forward-looking statements for which the Company claims the protections of the safe harbor for forward-looking statements under the Private Securities Litigation Reform Act of 1995. It is important to note that future events and the Company's actual results could differ materially from those described in or contemplated by such forward-looking statements. Factors that could cause actual results to differ materially from current expectations include, but are not limited to, (i) general economic conditions, (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or general downturn in their business, (iii) local real estate conditions, (iv) increases in interest rates, (v) increases in operating costs and real estate taxes, (vi) changes in accessibility of debt and equity capital markets and (vii) defaults by borrowers on loans. Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the Company's filings with the Securities and Exchange Commission, copies of which may be obtained from the Company or the Securities and Exchange Commission. The Company refers you to the documents filed by the Company from time to time with the Securities and Exchange Commission, specifically the section titled "Risk Factors" in the Company's most recent Annual Report on Form 10-K, as may be updated or supplemented in the Company's Form 10-Q filings, which discuss these and other factors that could adversely affect the Company's results.