Campus Crest Communities 3rd Quarter Results

Campus Crest Communities Inc. reports net income of $7.8 million, or 20 cents per share, for the third quarter, up from $408,000, or 1 cent per share, in the same period of 2011.

The company’s revenue climbed to $34.5 million from $20.4 million a year earlier.

“We are pleased to post strong results for another quarter. Our people-focused investments and initiatives are continuing to positively impact our company,” says Ted Rollins, co-chairman and chief executive, in the company’s earnings release. “This is clearly seen in our occupancy, rates, margin and NOI, but perhaps not as obvious is the energy, morale and quality of our hard-working associates.”

In the first nine months of the year, Campus Crest has earned $5.5 million, or 16 cents per share, swinging from a loss of $702,000, or 2 cents per share, last year.

Year-to-date revenue totals $102.8 million, up from $69.2 million a year ago.

Charlotte-based Campus Crest (NYSE:CCG) is a developer, builder, owner and manager of student housing. It owns interests in 33 properties comprising 6,324 apartment units.

The company has been publicly traded since October 2010.

Tags: , , , ,

About the Author ()

Ted Rollins is the Co-Chairman of the Board and Chief Executive Officer of Campus Crest. He co-founded Campus Crest in 2004 and established it as a leading developer, builder, owner and manager of high-quality, purpose-built student housing properties located in targeted U.S. markets.

Comments are closed.