DuPont Fabros reported quarterly revenue yesterday of $60.3 million, up 16% y/y, with FFO per share rising from 29 cents to 37 cents.
Property operating costs rose just 2% in spite of the revenue gain, allowing net income to grow from $5.5 million to $15.3 million. Additionally, the company's NOI, or Net Operating Income, margin is now 63%, close to the 65-70% range that is typical for other apartment, office, and data center REITs. A year ago, it was just 52%.
|DFT's ACC6 Building Under Construction Nov 2010|
The stock is down 4% today, possibly because the company reduced its annual FFO guidance midpoint slightly, from $1.35 to $1.32, due to a one-time write off of unamortized interest charges on its ACC4 loan, which it paid off early.
The earnings release came out last night, but the call is today, dial-in information is available here.