Vornado (VNO) Sees Q2 Toys 'R' Us Pretax FFO Loss Halved from Last Year

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Vornado Realty Trust (NYSE: VNO) will record its 32.6% share of Toys "R" Us' first quarter financial results in its second quarter ending June 30, 2012. Vornado's results will include a net loss of $19,190,000, or $0.10 per diluted share, compared to a net loss of $22,846,000, or $0.11 per diluted share recorded in the quarter ended June 30, 2011.

Vornado's share of negative Funds From Operations ("FFO") before income taxes for the quarter ending June 30, 2012 will be $15,412,000, or $0.08 per diluted share, compared to negative FFO before income taxes of $30,137,000, or $0.15 per diluted share in the prior year's quarter. Vornado's share of negative FFO after income taxes for the quarter ending June 30, 2012 will be $7,660,000, or $0.04 per diluted share, compared to negative FFO after income taxes of $12,005,000, or $0.06 per diluted share in the prior year's quarter.

The business of Toys is highly seasonal; historically, Toys' fourth quarter net income accounts for more than 80% of its fiscal year net income.

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