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Article Excerpt
Business Editors
PHILADELPHIA--(BUSINESS WIRE)--Jan. 24, 2003
RAIT Investment Trust (NYSE: RAS)--
2002 Highlights
- Revenues of $73.7 million for the year ended December 31, 2002 represents a 41% increase over the year ended December 31, 2001 revenues of $52.4 million. - Net income (before minority interest and extraordinary gain) of $43.5 million for the year ended December 31, 2002 represents a 96% increase over the year ended December 31, 2001 net income (before minority interest and extraordinary gain) of $22.2 million. - Net income per common share diluted (before extraordinary gain) for the year ended December 31, 2002 increased 13.2% to $2.48 based on 17.5 million weighted average common shares diluted from $2.19 for the year ended December 31, 2001 based on 10.1 million weighted average common shares diluted.
RAIT Investment Trust (RAIT) (NYSE: RAS), a company that provides specialized financing to the mid-sized real estate market, reported revenues of $20.2 million and $15.2 million for the three months ended December 31, 2002 and 2001, respectively, and revenues of $73.7 million and $52.4 million for the year ended December 31, 2002 and 2001, respectively.
Net...
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