BioMed Realty Trust Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenues approximately of $160,450,000, compared to approximately $120,012,000 for the same period in 2012, an increase of 33.7%. Total revenues include approximately $28,800,000 associated with the termination of a lease with Elan Corporation, for which the company received a termination fee of $46,500,000 in the second quarter. Income from operations was $46,869,000 against $29,102,000 a year ago. Income from continuing operations was $17,458,000 or $0.05 per basic and diluted share against $6,702,000 or $0.02 per basic and diluted share a year ago. Net income attributable to the company was $17,312,000 against $2,312,000 a year ago. Net income available to common stockholders was $8,388,000 or $0.05 per basic and diluted share against net loss available to common stockholders of $1,339,000 or $0.01 per basic and diluted share a year ago. FFO available to common shares and units-diluted was $71,333,000 or $0.41 per diluted share against $50,197,000 or $0.30 per diluted share a year ago. CFFO available to common shares and units-diluted was $73,569,000 or $0.42 per diluted share against $50,830,000 or $0.30 per diluted share a year ago. AFFO available to common shares and units was $81,424,000 or $0.47 per diluted share against $50,472,000 or $0.30 per diluted share a year ago. CFFO for the first quarter was $0.42 per diluted share, compared to $0.30 per diluted share for the same period in 2012, an increase of 40.0%. FFO per share, calculated in accordance with standards established by NAREIT, was $0.41 per diluted share, as compared to $0.30 per diluted share in the first quarter of 2012, an increase of 36.7%. AFFO for the quarter was $0.47 per diluted share, as compared to $0.30 per diluted share in the first quarter of 2012, an increase of 56.7%. The company provided earnings guidance for the year 2013. For the year, the company expected net income per diluted share available to common stockholders to be in the range of $0.08 to $0.16. FFO per diluted share expected to be in the range of $1.41 to $1.49. CFFO per diluted share expected to be in the range of $1.44 to $1.52. This guidance include the following items: Full year impact of the Elan lease termination fee income (approximately $0.19 per diluted share); Charge taken in the first quarter relating to the March 2013 redemption of Series A preferred stock (approximately $0.04 per diluted share); Non-cash expense related to an investment in a privately-held life science company taken in the first quarter (approximately $0.02 per diluted share); Impact of pre-funding of the March 2013 redemption of the Series A preferred stock through the common stock offering completed in February 2013 (approximately $0.01 per diluted share); and Impact of pre-funding the pending close of the merger with Wexford Science & Technology through the common stock offering completed in April 2013 (approximately $0.02 per diluted share). On a pro forma basis, the range of expected CFFO per diluted share would be from $1.34 to $1.42 after considering these adjustments. The company's estimates of CFFO per diluted share also include the following items: Assumed issuance of $250 million in unsecured debt during the second half of 2013 (approximately $0.01 per diluted share); and Impact of difference in rents at the company's Science Center at Oyster Point between the terminated Elan Corporation lease and the new Life Technologies lease (approximately $0.01 per diluted share).

BioMed Realty Trust Inc., Q1 2013 Earnings Call, May 02, 2013

BioMed Realty Trust Inc. announced that they will report Q1, 2013 results at 5:00 PM, Eastern Standard Time on May 01, 2013