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Brookfield reports strong operating performance

Brookfield Asset Management Inc (NYSE:BAM), which owns Atlantis Paradise Island, Friday reported an increase in third-quarter funds from operations or FFO, reflecting strong operating performance and gains from several large realizations, according to RTT News. 

Source:
Date:
Updated:
RTTNews
Friday, November 8, 2013
Friday, November 8, 2013

From RTTNews:

Brookfield Asset Management Inc. (BAM: Quote, BAM_A.TO), Friday reported an increase in third-quarter Funds from operations or FFO, reflecting strong operating performance and gains from several large realizations.

For the three-month period, the company reported FFO of $1.19 billion or $1.85 per share, compared with $223 million or $0.30 last year. Net income attributable was $1.49 billion or $1.23 per share, compared with $875 million or $0.48 per share last year.

The company said that disposition gains included in FFO totaled $851 million for the quarter, compared with losses of $77 million last year. Also in the FFO were included a $525 million gain on the settlement of a long dated interest rate contract, as well as gains on the sales of North American timberlands and private equity investments.

Total revenues and other gains were $5.17 billion, up from prior year’s $4.66 billion.

This is an excerpt from RTTNews as it appeared on November 8, 2013. For updates or to read the current version of this post in its entirety, please click here.

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Ultrapetrol (Bahamas) Ltd, an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business, and Ocean Business), announced yesterday that it will release its third quarter 2013 financial results November 13, 2013, after the market closes.

With third-quarter earnings largely in the books, this chart provides some long-term perspective to the current earnings environment by focusing on 12-month S&P 500 earnings.

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