Entertainment Properties Trust Reports Second
Quarter Results
July 29, 2010 04:05 PM Eastern Daylight Time
KANSAS CITY, Mo.--(EON: Enhanced Online News)--Entertainment Properties Trust (NYSE:EPR) today
announced operating results for the second quarter and six months ended June 30, 2010.
Total revenue was $77.6 million for the second quarter of 2010 compared to $63.7 million for the same quarter in
2009. Net income available to common shareholders was $8.0 million, or $0.18 per diluted common share, for the
second quarter of 2010 compared to net income available to common shareholders of $20.2 million, or $0.58 per
diluted common share, for the same quarter in 2009. Funds From Operations (FFO) for the second quarter of 2010
was $21.7 million, or $0.48 per diluted common share, compared to FFO of $30.1 million, or $0.86 per diluted
common share, for the same quarter in 2009. Results for the second quarter of 2010 include a charge of $15.6
million or $0.35 per diluted share, associated with the Company’s early retirement of debt in conjunction with its
unsecured bond offering and new unsecured credit facility. Excluding this charge, FFO per diluted share was $0.83
for the second quarter of 2010.
For the six months ended June 30, 2010, total revenue was $150.4 million compared to $127.2 million for the same
period in 2009. Net income available to common shareholders for the six months ended June 30, 2010 was $30.6
million, or $0.69 per diluted share, versus $37.9 million, or $1.09 per diluted share, for the same period last year.
FFO for the six months ended June 30, 2010 was $55.5 million, or $1.26 per diluted share, compared to FFO of
$59.1 million, or $1.70 per diluted share, in the year ago period.
David Brain, President and CEO, commented, “We have had an extremely productive quarter from both a capital
markets and investment portfolio perspective. The Company became a rated credit in conjunction with issuing $250
million of unsecured bonds with investment grade ratings, upsize