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ELS Reports Second Quarter Results.

Article Excerpt
Equity LifeStyle Properties, Inc. (NYSE: ELS) (the "Company") announced results for the quarter and six months ended June 30, 2009.

a) Financial Results

For the second quarter 2009, Funds From Operations ("FFO") were $23.7 million, or $0.77 per share on a fully-diluted basis, compared to $21.7 million, or $0.71 per share on a fully-diluted basis for the same period in 2008. For the six months ended June 30, 2009, FFO was $61.6 million, or $2.01 per share on a fully-diluted basis, compared to $54.3 million, or $1.78 per share on a fully-diluted basis for the same period in 2008.

Net income available to common stockholders totaled $2.9 million, or $0.11 per share on a fully-diluted basis for the quarter ended June 30, 2009. This compares to net income available to common stockholders of $4.1 million, or $0.17 per share on a fully-diluted basis for the same period in 2008. Net income available to common stockholders totaled $16.5 million, or $0.65 per share on a fully-diluted basis for the six months ended June 30, 2009. This compares to net income available to common stockholders of $16.8 million, or $0.68 per share on a fully-diluted basis for the same period in 2008.

Due to our August 14, 2008 acquisition of Privileged Access, L.P. ("Privileged Access"), the results for the...

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