BRT Realty Trust Reports Results of Operations for the First Quarter of Its Fiscal Year
GREAT NECK, NY–(Marketwire – February 8, 2010) – BRT REALTY TRUST (NYSE: BRT) today announced
its results of operations for the quarter ended December 31, 2009 (the
first quarter of its 2010 fiscal year). BRT reported that for the three
months ended December 31, 2009, it had total revenues of $1,881,000 and a
net loss of $2,521,000, or a per share net loss on a diluted basis of $.19.
The net loss for the quarter ended December 31, 2009 takes into account a
$3,165,000 provision for loan loss ($.24 per diluted share), an impairment
charge on real estate held for sale of $745,000 ($.06 per diluted share)
and a gain on sale of available-for-sale securities of $1,586,000 ($.12 per
diluted share). For the three months ended December 31, 2008, BRT reported
total revenues of $4,880,000 and a net loss of $3,623,000, or a $.31 per
share net loss on a diluted basis. Net income for the three months ended
December 31, 2008 gives e