Funds from operations per diluted share dropped 5.1% from 39 cents in the third quarter of 2002 to 37 cents this third quarter. This reflected a $1.5 million gain on the extinguishment of debt that raised last year's funds from operations per diluted share by 4 cents. Not counting the gain last year, funds from operations per diluted share in this year's third quarter would have grown 5.1%.

Third-quarter net income was $17.2 million, or 27 cents per diluted share, compared with $10.9 million, or 32 cents per diluted share, last year's quarter. This third quarter included 2 cents per diluted share of income from discontinued operations, and the 2002 quarter included 5 cents per diluted share of income from discontinued operations. In the third quarter, total rental revenue was up 103% to $50.8 million from $25 million in the 2002 quarter.

Funds from operations grew 79.3% from $35.5 million for the nine months ended Sept. 30, 2002, to $63.6 million for the same period this year. This figure per diluted share was $1.08 for the first nine months of both years. Net income was $45.9 million for the nine-month period this year, or 79 cents per diluted share, compared with $32.6 million, or $1 per diluted share, for the same period last year. For the nine months, total rental revenue rose 88.3% from $73 million in 2002 to $137.6 million this year.