Equity Lifestyle Properties, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter Ending March 31, 2014 and Full Year Ending December 31, 2014
January 28, 2014 at 03:32 am IST
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Equity LifeStyle Properties, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported total revenues of $179,881,000 against $165,312,000 a year ago. Income from continuing operations was $28,814,000 against $21,528,000 a year ago. Net income was $28,713,000 against $29,015,000 a year ago. Net income available for common shares was $24,160,000 against $24,275,000 a year ago. Funds flow operations was $54,866,000 or $0.60 per diluted share against $50,285,000 or $0.55 per share diluted a year ago. Income from continuing operations per common share fully diluted were $0.29 against $0.21 a year ago. Net income per common share diluted were $0.29 against $0.29 a year ago. Normalized funds flow operations was $56,588,000 or $0.62 per diluted share against $50,492,000 or $0.56 per share diluted a year ago.
For the year, the company reported total revenues of $728,375,000 against $683,706,000 a year ago. Income from continuing operations was $77,247,000 against $63,747,000 a year ago. Net income was $125,905,000 against $74,459,000 a year ago. Net income available for common shares was $106,919,000 against $54,779,000 a year ago. Funds flow operations was $191,049,000 or $2.09 per share diluted against $209,993,000 or $2.31 per share diluted a year ago. Income from continuing operations per common share fully diluted were $0.75 against $0.54 a year ago. Net income per common share diluted were $1.28 against $0.66 a year ago. Normalized funds flow operations was $232,298,000 or $2.55 per diluted share against $209,688,000 or $2.31 per share diluted a year ago.
For the first quarter ending March 31, 2014, the company expects normalized funds flow operations of $69.4 million, net income available to common shares of $37.2 million, funds flow operations of $69.2 million, normalized funds flow operations per share of $0.73 to $0.79. Funds flow operations per share will be in the range of $0.73 to $0.79. Net income per share fully diluted will be in the range of $0.41 to $0.47.
For the year ending December 31, 2014, the company expects normalized funds flow operations of $245.5 million or $2.68 per share at the midpoint of the range. Net income available to common shares will be $120.7 million. Funds flow operations will be $245.3 million.
Equity LifeStyle Properties, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns a lifestyle-oriented properties consisting of property operations and home sales and rental operations within manufactured home (MH) and recreational vehicle (RV) communities and marinas. It operates through two segments: Property Operations and Home Sales and Rentals Operations. The Property Operations segment owns and operates land lease properties and the Home Sales. The Home Sales and Rentals Operations segment purchases, sells and leases homes at the Properties. The Company owns interest in a portfolio of approximately 451 properties located throughout the United States and Canada containing approximately 172,465 individual developed areas. These properties are located in 35 states and British Columbia, with approximately 110 properties with lake, river or ocean frontage and approximately 120 properties within 10 miles of the coastal United States.
Equity Lifestyle Properties, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter Ending March 31, 2014 and Full Year Ending December 31, 2014
EQUITY LIFESTYLE PROPERTIES, INC. 
