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Douglas Emmett, Inc (DEI) has reported a 39.06 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $19.70 million, or $0.13 a share in the quarter, compared with $14.17 million, or $0.09 a share for the same period last year.
Revenue during the quarter grew 21.33 percent to $194.64 million from $160.43 million in the previous year period.
Total expenses were $138.70 million for the quarter, up 22.36 percent or $25.34 million from year-ago period. Operating margin for the quarter contracted 60 basis points over the previous year period to 28.74 percent.
Operating income for the quarter was $55.94 million, compared with $47.07 million in the previous year period.
For fiscal year 2017, Douglas Emmett, Inc expects diluted earnings per share to be in the range of $0.54 to $0.60.
Revenue from real estate activities during the quarter increased 24.94 percent or $34.05 million to $170.55 million.
Income from operating leases during the quarter rose 26.07 percent or $27.26 million to $131.81 million. Revenue from tenant reimbursements was $12.74 million for the quarter, up 21.85 percent or $2.28 million from year-ago period.
Revenue from other real estate activities during the quarter was $26 million, up 20.94 percent or $4.50 million from year-ago period.
Receivables move up
Net receivables were at $2.16 million as on Dec. 31, 2016, up 13.53 percent or $0.26 million from year-ago.
Total assets stood at $7,613.70million as on Dec. 31, 2016. On the other hand, total liabilities were at $4,599.63 million as on Dec. 31, 2016.
Return on assets was at 0.77 percent in the quarter. At the same time, return on equity was at 0.65 percent in the quarter.
Debt moves up
Total debt was at $4,369.54 million as on Dec. 31, 2016, up 21 percent or $758.26 million from year-ago. Shareholders equity was at $3,014.07 million as on Dec. 31, 2016. Meanwhile, debt to equity ratio was at 1.45 percent in the quarter.
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