EARNINGS: Cedar Shopping Centers net income up
Cedar Shopping Centers,
Port Washington
real estate investment trust specializing in supermarket-anchored shopping centers
Quarter: Ended March 31 Net income: $27.9 million, compared with $26.9 million for the same quarter last year
Funds from operations: $6.6 million, compared with $15.5 million in the year-ago quarter
Outlook: "By focusing on both our operations and our balance sheet, we have positioned our company to enhance shareholder value as we seek to capture additional internal growth through our leasing results and to drive external growth through future acquisition opportunities," said chief executive Leo Ullman.
Company statement: "The company continues to execute its business plan, which is reflected in our strong operating results and high occupancy in the first quarter" and the company's reduction of debt.
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