Mission West Properties, Inc. (MSW) Reports Strong Increase in Funds from Operations
Mission West Properties, Inc. announced that Funds From Operations (FFO) for the first quarter of 2010 was $16.5 million, or $0.16 per diluted share. The company reported FFO of $12.1 million, or $0.11 per diluted share, in the same quarter of 2009. FFO is a non-GAAP financial measurement that is the preferred method of evaluating real estate investment trusts (REIT). It is calculated as net income, not including one-time gains or losses, depreciation, amortization and the effects of unconsolidated partnerships and joint ventures. Mission West Properties, Inc. said that net income also increased on a year over year basis, to…