First Potomac Realty Trust Earnings: Here’s Why Shares are Up Now

First Potomac Realty Trust (NYSE:FPO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.74%.

First Potomac Realty Trust Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 14.29% to $0.32 in the quarter versus EPS of $0.28 in the year-earlier quarter.

Revenue: Rose 12.46% to $50.2 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: First Potomac Realty Trust reported adjusted EPS income of $0.32 per share. By that measure, the company beat the mean analyst estimate of $0.29. It beat the average revenue estimate of $48.53 million.

Quoting Management: Douglas J. Donatelli, Chairman and CEO of First Potomac Realty Trust, stated, “We ended the year with strong leasing momentum, bringing our total new leasing to 921,000 square feet, which exceeded our goal of 850,000 square feet for the year. We realized solid NOI growth in the quarter as we focused on strengthening our core portfolio performance. We have also announced strategic initiatives that include significant steps to increase our balance sheet capacity, enhance our liquidity, and improve our financial flexibility. As we execute on the steps in our updated strategic and capital plan, we will continue to evolve our portfolio in order to maximize cash flow and focus on long term value creation.”

Key Stats (on next page)…