DuPont Fabros Technology boosts earnings 58%
D.C.-based DuPont Fabros Technology Inc., the fastest-growing company in the Washington area last year, grew its top and bottom lines last quarter.
DuPont Fabros, a real estate investment trust that develops and manages data centers, reported net income for the first quarter ended March 31 of $5.2 million, or 8 cents per share, compared with $3.3 million, or 5 cents per share, in the first quarter of 2009.
Revenue in the first quarter rose 21 percent to $56.9 million from $46.8 million in the year-ago period.
Funds from operations, a common yardstick for REITs that excludes real estate-related depreciation and amortization, rose 20 percent in the first quarter to $20.2 million. DuPont Fabros said the gain in FFO stemmed from increased leasing activity during the quarter when it signed leases worth approximately $33 million.
Filed under: marketing by Finance Boss