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Kimco Realty of New Hyde Park reports loss year over year

Kimco Realty Corp., New Hyde Park

Owns and operates shopping centers

Year: Ended Dec. 31, 2009

Net income: Loss of $51.2 million, compared with profit of $202.6 million for previous year.

Funds from operations: $287.1 million, compared with $522.9 million in the year-ago quarter.

Outlook: The company is actively engaging in the disposition of its nonretail assets. It plans to continue strengthening its balance sheet with a long-term focus on reducing its leverage levels and employing a conservative capital mix.

Company statement: The company remains committed to its core business objectives, including increasing shareholder value through the ownership, management and selective acquisition of neighborhood and community shopping centers.


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