Grubb & Ellis Company Reports Q4 EPS of $(0.21) vs. $(0.15)

Grubb & Ellis Company GBE today reported fourth quarter 2010 revenue of $163.5 million, an increase of approximately 10 percent compared with revenue of $148.7 million in the same period a year ago. For the full year 2010, Grubb & Ellis reported revenue of $575.5 million, compared with revenue of $527.9 million in 2009. The net loss attributable to the company for the fourth quarter of 2010 was $10.7 million, or $0.21 per share. In the comparable 2009 period, the company reported net income of $16.8 million, or $0.11 per share, primarily as a result of a gain of $21.9 million realized on the repayment of debt and $3.4 million of income from discontinued operations. For 2010, the company reported a net loss of $66.8 million, or $1.21 per share, compared with a net loss of $78.8 million, or $1.27 per share, for the same period a year ago.