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Article: FIRST UNION REAL ESTATE ANNOUNCES 1992 OPERATING RESULTS
- Article from:
- PR Newswire
- Article date:
- February 2, 1993
CopyrightCOPYRIGHT 1993 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CLEVELAND, Feb. 2 /PRNewswire/ -- First Union Real Estate Investments (NYSE: FUR) announced today its 1992 operating results.
Funds from operations and capital gains for 1992 were $29.1 million, or $1.61 per share, compared to 1991 amounts of $27.6 million, or $1.52 per share, an increase of 6 percent. Net income for the year ended 1992 was $18.4 million, or $1.02 per share, compared to 1991 net income of $18.2 million or $1.01 per share. Capital gains, which are included in net income and resulted primarily from a prior year installment sale, were $5.8 million, or $0.32 per share, in 1992 compared to $4.9 million, or $0.27 per share, in 1991.
Donald S. Schofield, ...