CHC Student Housing Corp. Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017
CHC Student Housing Corp. announced earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company’s property revenues were $1,217,355 compared to $1,494,823 a year ago. Net operating income was $778,742 compared to $778,832 a year ago. Net loss and comprehensive loss was $651,108 or $0.24 per basic and diluted share compared to $407,047 or $0.17 per basic and diluted share a year ago. Funds used in operations were $651,108 or $0.24 per share compared to $360,547 or $0.15 per share a year ago. Adjusted funds used in operations were $669,790 or $0.25 per share compared to $145,010 or $0.06 per share a year ago. Cash provided by operating activities was $20,624 compared with $68,190 for the same period a year ago.
For the full year, the company reported property revenues of $5,136,656 compared with $5,301,521 for the same period a year ago. Net operating income was $2,935,323 compared with $2,618,272 for the same period a year ago. Net loss and comprehensive loss was $2,031,793 or $0.79 per basic and diluted share compared with $650,890 or $0.28 per basic and diluted share for the same period a year ago. Funds used in operations was $1,355,299 or $0.53 per share compared with $1,337,478 or $0.57 per share for the same period a year ago. Adjusted funds used in operations was $1,504,677 or $0.58 per share compared with $1,074,670 or $0.46 per share for the same period a year ago. Cash used in operating activities was $1,801,593 compared with $333,418 for the same period a year ago.