ELS Reports Second Quarter Results
Continues Stable Core Performance
July 19, 2010 07:10 PM Eastern Daylight Time
CHICAGO--(EON: Enhanced Online News)--Equity LifeStyle Properties, Inc. (NYSE: ELS) (the “Company”)
today announced results for the quarter and six months ended June 30, 2010.
a) Financial Results
For the second quarter 2010, Funds From Operations (“FFO”) were $27.1 million, or $0.76 per share on a fully-
diluted basis, compared to $23.7 million, or $0.77 per share on a fully-diluted basis for the same period in 2009.
For the six months ended June 30, 2010, FFO was $64.6 million, or $1.82 per share on a fully-diluted basis,
compared to $61.6 million, or $2.01 per share on a fully-diluted basis for the same period in 2009.
Net income available to common stockholders totaled $6.0 million, or $0.20 per share on a fully-diluted basis for the
quarter ended June 30, 2010. This compares to net income available to common stockholders of $2.9 million, or
$0.11 per share on a fully-diluted basis for the same period in 2009. Net income available to common stockholders
totaled $21.1 million, or $0.69 per share on a fully-diluted basis for the six months ended June 30, 2010. This
compares to net income available to common stockholders of $16.5 million, or $0.65 per share on a fully-diluted
basis for the same period in 2009. See the attachment to this press release for a reconciliation of FFO and FFO per
share to net income available to common shares and net income per common share, respectively, the most directly
comparable GAAP measure.
b) Portfolio Performance
Second quarter 2010 property operating revenues were $119.0 million, compared to $116.1 million in the second
quarter of 2009. Our property operating revenues for the six months ended June 30, 2010 were $246.5 million,
compared to $240.4 million for the six months ended June 30, 2009.
For the quarter ended June 30, 2010, our Core property operating revenues increased approximately 1.8 percent
and Core property operating