ELS First Quarter Earnings Up On Higher Revenues

Equity LifeStyle Properties, Inc. (NYSE: ELS) announced results this week for the quarter ended March 31, 2010 that showed Funds From Operations ("FFO") were $37.4 million for compared to $37.9 million for the same period in 2009. ELS reported net income of $15.1 million in Q1 vs. $13.6 million in the same period for 2009.  For the quarter ended March 31, 2010, ELS’s Core property operating revenues increased approximately 1.2 percent and Core property operating expenses increased approximately 2.1 percent, resulting in an increase of approximately 0.4 percent to income from Core property operations over the quarter ended March 31, 2009.

For the full earnings release, visit ELS Q1 2010 earnings.