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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Out East Show: Visit The Shamrock evergreen maze, Sannino Vineyard, Seven Ponds Orchard and the Warrior Ranch Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
