Inland Real Estate Corporation Reports Q4 FFO of $0.21 vs. $0.20

Inland Real Estate Corporation IRC today announced financial and operational results for the three and twelve months ended December 31, 2010. Funds from Operations (FFO) per common share, adjusted for non-cash impairment charges and gains on extinguishment of debt in each period, was $0.21 for the quarter ended December 31, 2010, compared to $0.24 per share for the prior year quarter. Net income available to common stockholders for the fourth quarter of 2010 was $4.0 million, compared to $5.8 million for the fourth quarter of 2009. On a per share basis, net income available to common stockholders was $0.05 (basic and diluted) for the quarter, compared to net income of $0.07 for the prior year quarter. Net income was impacted by the same items that impacted FFO. In addition, net income decreased due to higher depreciation and amortization expense recorded in the quarter.