Sl Green Realty Corporation (SLG) has reported a 44.03 percent plunge in profit for the quarter ended Mar. 31, 2017. The company has earned $15.09 million, or $0.11 a share in the quarter, compared with $26.96 million, or $0.23 a share for the same period last year.
Revenue during the quarter dropped 17.14 percent to $377.38 million from $455.44 million in the previous year period.
Cost of revenue dropped 3.76 percent or $5.62 million during the quarter to $143.88 million. Gross margin for the quarter contracted 530 basis points over the previous year period to 61.87 percent.
Total expenses were $267.05 million for the quarter, down 26.24 percent or $95 million from year-ago period. Operating margin for the quarter expanded 873 basis points over the previous year period to 29.24 percent.
Operating income for the quarter was $110.33 million, compared with $93.39 million in the previous year period.
Revenue from real estate activities during the quarter declined 16.79 percent or $65.70 million to $325.52 million.
Income from operating leases during the quarter dropped 18.60 percent or $64.28 million to $281.33 million. Revenue from tenant reimbursements was $44.19 million for the quarter, down 3.11 percent or $1.42 million from year-ago period.
Other income during the quarter was $51.86 million, down 19.25 percent or $12.37 million from year-ago period.
Net receivables stood at $71.26 million as on Mar. 31, 2017.
Investments stood at $1,657.10 million as on Mar. 31, 2017.
Total assets stood at $15,877.27million as on Mar. 31, 2017. On the other hand, total liabilities were at $7,380.28 million as on Mar. 31, 2017.
Return on assets was at 0.42 percent in the quarter. At the same time, return on equity was at 0.15 percent in the quarter.
Total debt was at $6,616.22 million as on Mar. 31, 2017. Shareholders equity was at $7,703.68 million as on Mar. 31, 2017. Meanwhile, debt to equity ratio was at 0.86 percent in the quarter.
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