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Home Properties Reports Second Quarter 2006 Results; FFO Per Share ...

ROCHESTER, N.Y.--(BUSINESS WIRE)--Aug. 2, 2006--Home Properties (NYSE:HME) today released financial results for the second quarter ending June 30, 2006. All results are reported on a diluted basis.

"Funds from Operations per share was the highest for any second quarter in Home Properties' history as a public company and resulted from strong property operations, versus non-routine gains," said Edward J. Pettinella, President and Chief Executive Officer. "Comparing same-property results to the second quarter of 2005, the combination of 5.4% revenue growth, a 1.4% decrease in operating expenses and higher occupancy produced net operating income growth of 10.7%, the highest for the Company in more than four years. Improved operating fundamentals and successful implementation of key strategic initiatives resulted in excellent first half results which we will build on in the balance of the year."

Earnings per share ("EPS") for the quarter ended June 30, 2006 was $0.33 compared to $0.25 for the quarter ended June 30, 2005.

Transcript of The Miami Herald's Roundtable on the Insurance ...

On July 17, The Miami Herald assembled this group of political, industry and community leaders to discuss and debate solutions for the insurance crisis in South Florida. The Roundtable was held at Herald offices, and the participants were:

• Heather Carruthers, member of FIRM. (Fair Insurance Rates for Monroe), owner of a resort guesthouse and chairwoman of the Board of the Lodging Association of the Florida Keys and Key West.

• Pablo M. Conde, president of A&A Underwriters, an insurance agency in West Miami-Dade.

• Thomas J. Dixon, president of Thomas J. Dixon, Inc., a commercial real estate brokerage and tax assessment appeals firm.

• Bruce Douglas, chairman of the board of governors, Citizens Property Insurance Corp., and chief executive of Douglas Capital Management, an independent investment advisory firm.

Rebels: Hoping this Art will yield a masterpiece

We were kind of the black sheep last year," says converted defensive tackle Andrew Wicker, now a senior and penciled in as the starter at left guard. "A lot of fingers got pointed at us, and we kind of got pushed into a corner."


Talent at running back shouldn't be a problem this year.


McSwain is back, and while head coach Ed Orgeron has talked about using him at wide receiver, he's worked only at tailback in the first three days.


He is no longer the starter, however. That job has gone to Indiana transfer BenJarvus Green-Ellis, a tough between-the-tackles runner.


McSwain offers a nice complement as the guy who can turn the corner and run away from a defense.


Freshman Cordera Eason and junior college transfer Bruce Hall make the position a deep one.

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