American Real Estate Partners (ACP) Reports a Q2 Loss
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American Real Estate Partners, L.P. ("AREP") (NYSE: ACP) reported second quarter 2007 net loss of $25.5 million, or ($0.40) per depositary unit, compared to second quarter 2006 net earnings of $79.1 million, or $1.28 per depositary unit.
For the second quarter of 2007, revenues decreased by $94.0 million to $191.4 million from $285.4 million in the second quarter of 2006.
In addition, the AREP Board of Directors approved a payment of a quarterly distribution of $0.15 per unit on our depositary units, payable in the third quarter of fiscal 2007. The distribution will be paid on September 7, 2007 to depositary unitholders of record at the close of business on August 27, 2007.
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