Operating income for the fiscal year 2012 third quarter was $7.7 million, compared to $7.2 million in the third quarter of the previous fiscal year.
Adjusted EBITDA (defined as net income excluding interest, income taxes, depreciation and amortization, and non-cash impairment charges on real estate development) in the third quarter of fiscal year 2012 was $8.2 million, compared to $8.0 million in the same period of fiscal year 2011. A reconciliation of Adjusted EBITDA to the GAAP measure net income is provided at the end of this release.
Primarily as a result of a larger amount of capitalized interest on real estate development projects during the third quarter of fiscal year 2012, interest expense was $148,000 compared to $340,000 in the same period of fiscal year 2011. Non-cash fair value adjustments on the Company’s interest rate swap resulted in income of $172,000 in the third quarter of fiscal year 2012 compared to an expense of $87,000 in the same period of the prior year.
Net income applicable to common stock, after preferred dividends, for the third quarter of fiscal year 2012 was $5.0 million, or $0.45 per share. This compares to net income applicable to common stock, after preferred dividends, in the third quarter of fiscal year 2011 of $4.6 million, or $0.41 per share.Fiscal Year 2012 First Nine Months Results For the nine months ended July 31, 2012, revenue was $51.0 million, compared to $41.6 million in the same period last year. Operating income for the first nine months of fiscal year 2012 was $4.1 million, compared to $167,000 in the same period last year. Net income applicable to common stock, after preferred dividends, for the first nine months of fiscal year 2012 was $2.8 million, or $0.25 per share, compared to $847,000, or $0.08 per share, in the same period last year.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV