Funds from operations increased from $11.1 million for the second quarter last year to $22.4 million for the same period this year. They also increased 9.1% to 36 cents per diluted share in the second quarter of this year, up from 33 cents last year.
In addition, both the REIT's net income and total revenue nearly doubled in the second quarter. Net income was $16.4 million, or 26 cents per diluted share, compared with $8.4 million, or 25 cents per diluted share, in the 2002 quarter. Total revenue grew 106.9% to $49.5 million in the second quarter, compared with $23.9 million in the 2002 quarter.
Those three statistics--funds from operations, net income and revenue--also increased for the first half of the year, compared with the first half of 2002.
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