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property for sale in umbria italy
News and Information Article
WASHINGTON, May 12 /-FirstCall/ -- Bresler & Reiner, Inc.
reported a net loss of $2,402,000 or $(0.44) per common share on revenues
of $24,863,000 for the quarter ended March 31, 2006. For the comparable
period in 2005, the Company reported net income of $881,000 or $0.16 per
common share on revenues of $29,253,000.
Funds from operations for the quarter ended March 31, 2006 were
$2,354,000 compared to $4,340,000 for the first quarter of 2005. Funds from
operations is defined by the Company as net income computed in accordance
with accounting principles generally accepted in the United States,
excluding gains and losses, net of tax, on sales of depreciable property,
plus depreciation and amortization and after adjustments for unconsolidated
partnerships and joint ventures.
About the Company:
Bresler & Reiner, Inc. owns and develops land and residential,
commercial and hospitality properties, principally in the Washington, D.C.;
Wilmington, Delaware; Philadelphia, Pennsylvania; Houston, Texas;
Baltimore, Maryland and Orlando, Florida metropolitan areas, and the
Maryland Eastern Shore.
Supplemental Information:
SEC Filings (including Forms 10-K, 10-Q, 8-K and proxy materials) are
available at http://www.breslerandreiner.com or may be requested in e-mail
or hard copy formats.
This press release may contain forward-looking statements that are
based on current estimates, expectations, forecasts and projections about
us, our future performance, the industry in which we operate, our beliefs,
and managements assumptions. In addition, other written or oral statements
that constitute forward-looking statements may be made by or on behalf of
us. Words such as "expects," "anticipates," "targets," "goals," "projects,"
"intends," "plans," "believes," "seeks," "estimates," or "would be," and
variations of such words and similar expressions are intended to identify
such forward-looking statements. These statements are not guarantees of
future performance and involve certain risks, uncertainties and assumptions
that are difficult to predict. Therefore, actual outcomes and results may
differ materially from what is expressed or forecasted in such
forward-looking statements. These risks and uncertainties include: our
ability to compete effectively; our exposure to the credit risks of our
tenants; our ability to recruit and retain key personnel; adverse changes
in the local or general economy and market conditions; our ability to
obtain necessary governmental permits and approvals; our ability to
complete development projects in a timely manner and within budget; our
ability to secure tenants for our projects and properties; our ability to
sustain occupancy levels at our properties through keeping existing tenants
and securing new ones; our ability to secure tenants for the residential
and commercial properties that we develop; changes in the interest rate
environment which will affect our ability to obtain mortgage financing on
acceptable terms; future litigation; and changes in environmental health
and safety laws.
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