Although funds from operations were down for the quarter and the half, second-quarter revenue of $26.5 million was up from $26.3 million in the same period a year ago. The revenue included a $559,000 lease termination fee from the Ocala, FL Wal-Mart store, and a $456,000 impairment charge from the sale of shop space in Fort Walton Beach, FL.
For the second quarter, diluted funds from operations per share, before litigation charges, were 30 cents compared with 34 cents a year ago. FFO before the charges was $9.7 million versus $11 million previously.
Net income attributable to common shareholders before litigation was $3.6 million or 11 cents per diluted share versus $9.4 million or 29 cents per diluted share in second quarter 2000.
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