Tuesday, February 24, 2015

Barclays Center numbers to look for in Forest City Enterprises annual results, coming at end of day

Yesterday how I reported on some 12-month financial figures for the Barclays Center, ending 6/30/14.

Today, at the end of business, Forest City Enterprises will report 2014 annual results.

It will be interesting to see how much the Barclays Center numbers change. (They overlaps for six months, of course.)

The numbers are, for the 12 months ending in the first half of 2014:
  • Total Revenues: $120.4 million
  • Total Operating Expenses: $74.5 million
  • Net Operating Income: $46 million
  • Net Income After PILOT payments: $17.5 million
Remember, Net Operating Income is supposed to reach $65 million by 2016, and Net Income After PILOT payments was supposed to hit $47.2 million last year.

After an overstaffed first year, ending in September 2013, the arena was supposed to save money via new efficiencies. It's not clear how much that was accomplished in the year ending 6/30/14.

No comments:

Post a Comment