GMH Losses Mount From 'Painful Lessons'

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NEWTOWN SQUARE, PA-Net income fell while revenues rose for GMH Communities Trust Inc. during the full year and Q4 2006. The full-year loss was $5 million on revenues of $293.1 million, compared with a net income of $6.1 million on revenues of $224.2 million in 2005.

The year’s final quarter followed a similar pattern. The net loss was $1.3 million on total revenues of $81.4 million, versus net income of $3.8 million on revenues of $68.4 million for the same quarter of 2005. Fourth-quarter FFO was $9.8 million, down from $16.4 million in the same quarter a year ago.