Friday, Jul 01, 2016
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Earnings: REIT profit gains

Health Care REIT Inc., a Toledo owner of nursing homes and assisted living facilities nationwide, yesterday said its profit and revenues were up for the first quarter.

The company said it had a profit of $18.7 million, or 36 cents a share, on revenues of $61 million for the quarter, compared with a profit of $16.5 million, or 41 cents a share, on revenues of $44 million for the period a year ago. Its funds from operations, a common measure for real estate investment trusts, were $35.8 million, or 70 cents a share, compared with $28.1 million, or 69 cents a share, a year ago.

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Toledo's Libbey Inc. expects sales growth of 4 percent to 6 percent this year, or $534 million to $544 million, shareholders were told at the firm's annual meeting Syracuse, N.Y., yesterday.

The tableware firm expects growth in income from operations to be 10 percent to 12 percent this year, it said in a statement.

The company yesterday also declared a regular quarterly cash dividend of 10 cents a share, payable June 8 to holders on May 24.

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