Post's FFO, Revenue, Occupancy Down

ATLANTA-After selling 10 properties in 2002 for gross sales of $190 million, locally based Post Properties Inc. was still unable to present a positive financial picture to its shareholders, the company reported in a conference call.

Funds from operations for the Q4 totaled $25.6 million or 62 cents per diluted share compared to $33.7 million or 80 cents in the comparable 2001 period, excluding charges of 41 cents. For the full year, FFO was $110.4 million or $2.63 per diluted share compared to $150.6 million or $3.47 per diluted share.

Q4 total revenue from continuing operations at 65 mature communities totaling 22,618 apartment units was $82.8 million versus $86.4 million in the same 2001 period. For the full year, revenue was $330 million compared to $365.3 million.