WASHINGTON, Nov. 3 -- DCT Industrial Trust Inc., Denver, files Form 8-K (current report) with Securities and Exchange Commission on Nov. 2.
State or other jurisdiction of incorporation: Maryland
Results of Operations and Financial Condition.
On November 2, 2010, we issued a press release entitled "DCT INDUSTRIAL TRUST INC. REPORTS 2010 THIRD QUARTER RESULTS" which sets forth disclosure regarding our results of operations for the third quarter ended September 30, 2010. A copy of this press release as well as a copy of the supplemental information referred to in the press release are made available on our website and are attached hereto as Exhibits 99.1 and 99.2 and incorporated herein by reference. This Item 2.02 and the attached exhibits 99.1 and 99.2 are provided under Item 2.02 of Form 8-K and are furnished to, and shall not be deemed to be "filed" with, the Securities and Exchange Commission.
DCT Industrial Trust Inc. will hold its third quarter 2010 earnings conference call on Wednesday, November 3, 2010, at 11:00 AM Eastern time. You may join the conference call through a live Internet webcast via DCT Industrial's website at http://www.dctindustrial.com by clicking on the webcast link in the Investor Relations page of the website. Alternatively, you may join the conference call by telephone by dialing (877) 317-6789 or (412) 317-6789. If you wish to participate, please call approximately five minutes before the conference call is scheduled to begin. If you are unable to join the live conference call, you may access the webcast replay for at least 30 days on DCT Industrial's website. A telephone replay will be available for one week following the call by dialing (877) 344-7529 or (412) 317-0088 and using the passcode 444862. Please note that the full text of the press release and supplemental schedules are available through DCT Industrial's website at http://www.dctindustrial.com. The information contained on DCT Industrial's website is not incorporated by reference herein.
Set forth below are several non-GAAP financial measures that are included in the attached press release together with the most directly comparable GAAP financial measure.
For the three months ended September 30, 2010, Net Loss Attributable to Common Stockholders was $8.7 million and Net Loss Attributable to Common Stockholders per diluted share was $0.04. In our press release referred to above, we disclose Funds From Operations, or FFO, as defined by the National Association of Real Estate Investment Trusts ("NAREIT") and adjusted for impairment losses and acquisition costs, to be $21.6 million, or $0.09 per diluted share and unit for the three months ended September 30, 2010. In our press release, we also disclose FFO including impairment losses of $2.7 million and acquisition costs of $0.3 million as $0.08 per diluted common share and unit during the three months ended September 30, 2010. For the three months ended September 30, 2009, Net Loss Attributable to Common Stockholders was $14.6 million and Net Loss Attributable to Common Stockholders per diluted share was $0.07. For the three months ended September 30, 2009, FFO, as adjusted was $26.6 million, or $0.11 per diluted common share and unit.
For the nine months ended September 30, 2010, Net Loss Attributable to Common Stockholders was $26.6 million and Net Loss Attributable to Common Stockholders per diluted share was $0.13. For the nine months ended September 30, 2010, FFO adjusted for impairment losses, debt modification costs, and acquisition costs was $69.1 million, or $0.29 per diluted share and unit. FFO including impairment losses of $7.4 million, debt modification costs of $1.1 million and acquisition costs of $0.5 million was $0.25 per diluted common share and unit during the nine months ended September 30, 2010. For the nine months ended September 30, 2009, Net Loss Attributable to Common Stockholders was $14.8 million and Net Loss Attributable to Common Stockholders per diluted share was $0.08. For the nine months ended September 30, 2009, FFO, as adjusted was $85.3 million or $0.39 per diluted common share and unit.
For the three months ended September 30, 2010, Loss From Continuing Operations was $8.9 million. In our press release referred to above, we disclose our net operating income, or NOI, to be $41.6 million for the same period in 2010. For the three months ended September 30, 2009, Loss From Continuing Operations was $18.1 million. In our press release referred to above, we disclose our NOI to be $42.0 million for the same period in 2009. For the nine months ended September 30, 2010, Loss From Continuing Operations was $28.1 million.
For the three months ended September 30, 2010, our losses from continuing operations decreased $9.2 million from $18.1 million for the three months ended September 30, 2009 to a loss of $8.9 million for the same period in 2010. In our press release referred to above, we disclose that our same store NOI excluding lease termination fees for the three months ended September 30, 2010 decreased 4.8% compared to the same period in 2009 and decreased 4.3% on a cash-adjusted basis.
Financial Statements and Exhibits.
(d) Exhibits:
Exhibit Number - Description
99.1 - Press release dated November 2, 2010 and entitled "DCT INDUSTRIAL TRUST INC. REPORTS 2010 THIRD QUARTER RESULTS"
99.2 - Supplemental information entitled "DCT INDUSTRIAL THIRD QUARTER 2010 SUPPLEMENTAL REPORTING PACKAGE"
More information can be viewed at: http://www.sec.gov/Archives/edgar/data/1170991/000119312510244376/d8k.htm For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com
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