For the quarter ending June 30, 2000, Malan incurred a deficitof $1.6 million or 31¢ per basic share. In June 1999, the companyearned $2.6 million or 50¢ per basic share for the quarter endedJune 30, 1999.
Total revenues (excluding a gain on the sale of property ofabout $3.2 million), consisting primarily of rent and recoveriesfrom tenants, were $10.1 million in second quarter 2000. Thatcompares to revenues at $10.8 million in the second quarter of1999.
Included in the FFO for the second quarter of 2000 werenonrecurring expenses totaling approximately $3.4 million. Thisincluded about $775,000 in expenses for the proxy contest and $2.6million incurred for lump-sum payments and accrued future healthinsurance benefits as part of change of control agreements with thecompany's three executive officers.
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