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$37	Full Doc	2003	Script for Stockholder Update Call On May 20, 2003 Script for Stockholder Update Call On May 20, 2003 (13K) Doc #260538: This document is immediately available for purchase, but does not have a preview available for viewing. Meredith Enterprises Inc Script for May 20, 2003 telephone conference call Exhibit 99.1 Meredith Enterprises, Inc. Script for Stockholder Update Call On May 20, 2003 Some of the stockholders of Meredith Enterprises, Inc. (the ?Company?) and other interested parties have asked questions of the Company?s management regarding the Company?s performance and future direction. The Company?s management desires to answer these questions, and to so in a manner that permits all . . . 260538	Meredith Meredith Enterprises, Inc. As referenced in this Script for Stockholder Update Call On May 20, 2003: Meredith Enterprises, – May 20, 2003 telephone conference call EX-99.1 3 dex991.htm SCRIPT FOR MAY 20, 2003 TELEPHONE CONFERENCE CALL Exhibit 99.1 Meredith Enterprises, Inc. Script for Stockholder Update Call On May 20, 2003 Some of the stockholders of Meredith Enterprises, Inc. (the Company) and other _____________ Meredith Enterprises, – TELEPHONE CONFERENCE CALL Exhibit 99.1 Meredith Enterprises, Inc. Script for Stockholder Update Call On May 20, 2003 Some of the stockholders of Meredith Enterprises, Inc. (the Company) and other interested parties have asked questions of the Companys management regarding the Companys performance and future direction. The _____________ dt 134321 ; Meredith Meredith Enterprises, Inc. ( Real Estate ) As referenced in this Script for Stockholder Update Call On May 20, 2003: Meredith Enterprises, – May 20, 2003 telephone conference call EX-99.1 3 dex991.htm SCRIPT FOR MAY 20, 2003 TELEPHONE CONFERENCE CALL Exhibit 99.1 Meredith Enterprises, Inc. Script for Stockholder Update Call On May 20, 2003 Some of the stockholders of Meredith Enterprises, Inc. (the Company) and other _____________ Meredith Enterprises, – TELEPHONE CONFERENCE CALL Exhibit 99.1 Meredith Enterprises, Inc. Script for Stockholder Update Call On May 20, 2003 Some of the stockholders of Meredith Enterprises, Inc. (the Company) and other interested parties have asked questions of the Companys management regarding the Companys performance and future direction. The _____________ dt 134321 ;	West Coast West Coast Realty Investors, Inc. As referenced in this Script for Stockholder Update Call On May 20, 2003: West Coast Realty Investors, – County Superior Court. As a number of you are aware, Mr. Prock was an employee of the Advisor and not an employee of West Coast Realty Investors, Inc. He provided services as our Chief Operating Officer from 1992 to August 2001 and as Acting Chief Operating Officer from August _____________ dt 212637 ; West Coast West Coast Realty Investors, Inc. ( Real Estate ) As referenced in this Script for Stockholder Update Call On May 20, 2003: West Coast Realty Investors, – County Superior Court. As a number of you are aware, Mr. Prock was an employee of the Advisor and not an employee of West Coast Realty Investors, Inc. He provided services as our Chief Operating Officer from 1992 to August 2001 and as Acting Chief Operating Officer from August _____________ dt 212637
$36	Preview Full Doc	2003	The Wall Street Transcript The Wall Street Transcript (12K) Doc #260740: Click preview link for longer preview. THE WALL STREET TRANSCRIPT Questioning Market Leaders For Long Term Investors View PDF Version WILLIAM GORIN - MFA MORTGAGE INVESTMENTS INC (MFA) CEO Interview - published 11/26/2003 DOCUMENT # SAB254 WILLIAM S. GORIN is Chief Financial Officer and Executive Vice President of MFA Mortgage Investments, Inc. Previously, he was Executive Vice President of the America First Companies. Prior to joining America First, Mr. Gorin was First Vice President in the equity research department of Paine Webber Incorporated. Prior to that, he served as an investment banker at Kidder Peabody and E.F. Hutton. Mr. Gorin holds an MBA from the Stanford University Graduate School of Business. He graduated form Brandeis University with a BA in Economics. Sector: REITS TWST: Could you give us an overview of MFA Mortgage Investments' operations? Mr. Gorin: MFA Mortgage Investments, Inc., is a real estate investment trust with the objective of generating distributable net income primarily from investment in high quality, hybrid, and adjustable rate mortgage-backed securities. Currently, approximately 99% of assets are mortgage-backed securities issued or guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae, securities rated AAA by S&P and cash. MFA also owns interests in three multifamily apartment properties. MFA utilizes leverage in the form of repurchase agreements in the acquisition of its mortgage-backed securities. MFA maintains an asset to equity ratio of less than 11 times. We believe this ratio is conservative relative to other financial institutions that hold a comparable percentage of assets in high-grade mortgage-backed securities. MFA invests in hybrid and adjustable rate mortgage-backed securities. The hybrid mortgage-backed securities that MFA owns are adjustable rate mortgage-backed securities for which the initial interest rate is fixed for a period of time, typically three to five years, converting to an adjustable rate for the remaining term. MFA completed two equity offerings in 2003. The first offering occurred in May, at which time we raised about $67 million, and the second occurred in August and generated net proceeds of approximately $53 million. Year to date, MFA continues to generate strong financial results reflecting a 13.9% return on equity in the first nine months of this year. As previously mentioned, MFA has approximately 99% of its assets in high quality securities and cash. With extremely low levels of credit risk, the company has been able to generate very attractive quarterly dividends. For the first three quarters of 2003, MFA's dividends totaled $0.84 per share, and the stock is trading near $9.75. The strength of MFA's asset strategy is owning high quality assets that are liquid and easy to finance. The portfolio consists of one-year and hybrid 3/1 and 5/1 securities. Our assets have coupons that reset based on short-term interest rates, so they do react to interest rate changes. Due to the fact that the coupons of our assets reset, our assets face less price risk than fixed-rate securities. 260740	MFA Mortgage MFA Mortgage Investments ( Real Estate ) As referenced in this The Wall Street Transcript: MFA MORTGAGE INVESTMENTS – S. GORIN, DATED 11/26/2003 {TEXT} THE WALL STREET TRANSCRIPT Questioning Market Leaders For Long Term Investors View PDF Version WILLIAM GORIN - MFA MORTGAGE INVESTMENTS INC (MFA) CEO Interview - published 11/26/2003 DOCUMENT # SAB254 WILLIAM S. GORIN is Chief Financial Officer and Executive Vice President of MFA _____________ MFA Mortgage Investments, – INVESTMENTS INC (MFA) CEO Interview - published 11/26/2003 DOCUMENT # SAB254 WILLIAM S. GORIN is Chief Financial Officer and Executive Vice President of MFA Mortgage Investments, Inc. Previously, he was Executive Vice President of the America First Companies. Prior to joining America First, Mr. Gorin was First Vice _____________ MFA Mortgage Investments' – School of Business. He graduated form Brandeis University with a BA in Economics. Sector: REITS TWST: Could you give us an overview of MFA Mortgage Investments' operations? Mr. Gorin: MFA Mortgage Investments, Inc., is a real estate investment trust with the objective of generating distributable net income primarily _____________ MFA Mortgage Investments, – Brandeis University with a BA in Economics. Sector: REITS TWST: Could you give us an overview of MFA Mortgage Investments' operations? Mr. Gorin: MFA Mortgage Investments, Inc., is a real estate investment trust with the objective of generating distributable net income primarily from investment in high quality, hybrid, _____________ MFA Mortgage Investments, – and we maintain extra buying power to take advantage of investment opportunities. TWST: Thank you. (WT) WILLIAM S. GORIN Executive Vice President & CFO MFA Mortgage Investments, Inc. 350 Park Avenue 21st Floor New York, NY 10022 (212) 207-6400 (212) 207-6420 - FAX www.mfa-reit.com e- _____________ dt 134477 ; Fannie Mae Federal National Mortgage Association ( Associations ) As referenced in this The Wall Street Transcript: Fannie Mae – in high quality, hybrid, and adjustable rate mortgage-backed securities. Currently, approximately 99% of assets are mortgage-backed securities issued or guaranteed by Fannie Mae , Freddie Mac or Ginnie Mae, securities rated AAA by S&P and cash. MFA also owns interests in three multifamily apartment properties. _____________ Fannie Mae – for success has been to run the company conservatively. We focus on high credit quality assets. 99% of our assets are guaranteed by Fannie Mae , Freddie Mac or Ginnie Mae, are rated AAA or are cash. Our strategy has been to invest in adjustable rate and hybrid _____________ dt 137310 ;	Freddie Mac Freddie Mac ( Consumer Financial Services ) As referenced in this The Wall Street Transcript: Freddie Mac – quality, hybrid, and adjustable rate mortgage-backed securities. Currently, approximately 99% of assets are mortgage-backed securities issued or guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae, securities rated AAA by S&P and cash. MFA also owns interests in three multifamily apartment properties. MFA utilizes leverage _____________ Freddie Mac – has been to run the company conservatively. We focus on high credit quality assets. 99% of our assets are guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae, are rated AAA or are cash. Our strategy has been to invest in adjustable rate and hybrid ARMS, not fixed _____________ dt 230460
$52	Preview Full Doc	2004	Mi Developments Conference Call Mi Developments Conference Call (90K) Doc #260811: Click preview link for longer preview. Filed by MI Developments Inc. Pursuant to Rule 425 under the Securities Act of 1933, as amended, and deemed filed pursuant to Rule 14d-2 of the Securities Exchange Act of 1934, as amended. Subject Company: Magna Entertainment Corp. Commission File No. 000-30578 Dated: July 13, 2004 The following is a transcript of a presentation, including questions and answers, made to members of the financial analyst community by Brian V. Tobin, Chief Executive Officer of MI Developments Inc. ("MID"), John D. Simonetti, Vice- . . . 260811	Magna Magna Entertainment Corp. ( Casinos & Gaming ) As referenced in this Mi Developments Conference Call: Magna Entertainment Corp – of 1933, as amended, and deemed filed pursuant to Rule 14d-2 of the Securities Exchange Act of 1934, as amended. Subject Company: Magna Entertainment Corp . Commission File No. 000-30578 Dated: July 13, 2004 The following is a transcript of a presentation, including questions and answers, made _____________ Magna Entertainment Corp – morning, I am announcing that MID is making an offer to acquire all the shares, all the Class A Subordinate Voting shares of Magna Entertainment Corp . or MEC that are not currently owned by MID. 1 I and my colleagues and the management team believe this offer is _____________ Magna Entertainment Corp – INFORMATION ABOUT THE TRANSACTION This document is neither an offer to purchase securities nor a solicitation of an offer to sell securities of Magna Entertainment Corp . At the time the expected offer is commenced, MID will file an offer to purchase/prospectus with the United States Securities and _____________ Magna Entertainment Corp – commenced, MID will file an offer to purchase/prospectus with the United States Securities and Exchange Commission and Canadian securities regulatory authorities and Magna Entertainment Corp . will file a solicitation/recommendation statement with respect to the offer. Investors and stockholders are strongly advised to read the offer to _____________ Magna Entertainment Corp – just hold it to one and then let other people participate. First of all, I just wanted a general statement as to why Magna Entertainment Corp is valuable to you guys at $7 a share? You know, generally what are you looking at here to do with the _____________ dt 275435 ; Magna Int'l Magna International Inc. ( Auto & Truck Parts ) As referenced in this Mi Developments Conference Call: Magna International. – Now I have indicated in recent months that our vision and our plan are to build upon our solid relationship and experience with Magna International. MID core business has been industrial real estate and we shall continue to focus on the opportunity arising out of the acquisition, _____________ dt 223139 ;	MI Developments MI Developments Inc. ( Real Estate ) As referenced in this Mi Developments Conference Call: MI Developments – 425 1 a2140180z425.htm FORM 425 Filed by MI Developments Inc. Pursuant to Rule 425 under the Securities Act of 1933, as amended, and deemed filed pursuant to Rule 14d-2 of the _____________ MI Developments – of a presentation, including questions and answers, made to members of the financial analyst community by Brian V. Tobin, Chief Executive Officer of MI Developments Inc. ("MID"), John D. Simonetti, Vice- President and Chief Financial Officer of MID and Edward C. Hannah, Executive Vice-President, Corporate Development, Secretary _____________ MI DEVELOPMENTS – and General Counsel of MID conducted via teleconference at 8:30 a.m. New York/Toronto time on Tuesday, July 13, 2004: EVENT: MI DEVELOPMENTS CONFERENCE CALL TIME: 08H30 ET REFERENCE: CNW TORONTO (3914) LENGTH: APPROXIMATELY 90 MINUTES DATE: JULY 13, 2004 OPERATOR: Good morning ladies and _____________ MI Developments – 3914) LENGTH: APPROXIMATELY 90 MINUTES DATE: JULY 13, 2004 OPERATOR: Good morning ladies and gentlemen. Thank you for standing by. Welcome to the MI Developments special announcement conference call. At this time all participants are in a listen only mode. Following the presentation we will conduct a question _____________ MI Developments, – everyone and thank-you for joining us on these conference calls. My name is Brian Tobin, I am the Chief Executive officer of MI Developments, with me today for this call are John Simonetti, the Vice-President and Chief Financial Officer of MID and as well Ed _____________ dt 134511
$43	Full Doc	2004	First Quarter 2004 Conference Call First Quarter 2004 Conference Call (25K) Doc #265045: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-99.24 {SEQUENCE}2 {FILENAME}d15191exv99w24.txt {DESCRIPTION}EARNINGS CONFERENCE CALL TRANSCRIPT {TEXT} {PAGE} EXHIBIT 99.24 ASHFORD HOSPITALITY TRUST FIRST QUARTER 2004 CONFERENCE CALL INTRODUCTORY COMMENTS - TRIPP SULLIVAN Good afternoon and welcome to this Ashford Hospitality Trust conference call to review the Company's results for the first quarter of 2004. On the call this morning will be Monty Bennett, president and chief executive officer, Doug Kessler, chief operating officer and head of acquisitions and David Kimichik, chief financial officer and head of asset management. The results as well as notice of the accessibility of this conference call on a listen-only basis over the Internet were released this morning in a press release that has been covered by the financial media. As we start, let me express that certain statements and assumptions in this conference call contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When we use the words "will likely result," "may," "anticipate," "estimate," "should," "expect," "believe," "intend," or similar expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Ashford's control. These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: general volatility of the capital markets and the market price of our common stock; changes in our business or investment strategy; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the market in which we operate, interest rates or the general economy; and the degree and nature of our competition. These and other risk factors are more fully discussed in the section entitled "Risk Factors" in Ashford's Registration Statement on Form S-11, as amended, and from time to time, in Ashford's other filings with the Securities and Exchange Commission. The forward-looking statements included in this conference call are only made as of the date of this call. Investors should not place undue reliance on these forward-looking statements. We are not obligated to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise. I will now turn the call over to Monty Bennett. Please go ahead, Monty. OPERATIONAL HIGHLIGHTS - MONTY BENNETT Good afternoon. During the first quarter, we have been very active on the investment front. This afternoon we would like to update you on this new investment activity, discuss our operating performance in the quarter, provide an assessment on the current state of the lodging market, talk about how we are financing our growth, and share with you the current state of our investment pipeline. Ashford Hospitality is a unique lodging vehicle and has dedicated itself to be the premier capital provider to the hospitality industry. As such, Ashford is the only REIT dedicated to investing at all levels of the capital structure of hotel properties. Diversification is our hallmark. We seek diversification by geography, brand, service sector, and capital structure position. We believe that {PAGE} First Quarter Conference Call Outline Page 2 Draft #1 we are in the early recovery of the lodging cycle and are therefore focused primarily on direct hotel investments and mezzanine loans within the hospitality space. As the industry rolls through its cycle, we anticipate changing our mix of assets within the hospitality sector. Our mezzanine lending program is unique as well. We underwrite these loans with a view to either service a performing loan, or gain title to an asset at an attractive position in the capital structure. The first quarter transactions have positioned us closer to being fully invested. We continue to be very pleased with our transaction pace with trailing EBITDA's consistent with what we had previously shared. As we have previously communicated, we shared that we anticipated to be fully invested within 12 months of our IPO in August of last year . At the end of the of the first quarter, we have announced or closed on $384 Million of acquisitions, well on our way to completing our target of $500 - $550 Million of investments. We also shared that we would be targeting a portfolio comprised 60% - 80% of direct hotel investments with the balance in mezzanine loan investments. Currently, 82% of our assets are direct hotel investments with the remainder in mezzanine loans. Further, we indicated that the direct hotel investments would be purchased in the range of 9.5% - 10.5% T-12 EBITDA yields, and mezzanine loans would have initial unleveraged yields in the 11% - 12% range. True to form, the direct hotel investments made after the IPO have an average trailing EBITDA yield at the time of announcement of approximately 10.8%. Our closed mezzanine loans have initial unleveraged yields that average 11.5%. Further, our mezzanine loans are in a more conservative position in the capital structure than originally targeted. For the total portfolio, operational highlights include: - RevPAR, or revenue per available room, was up 2.2% for all 16 hotels - Occupancy increased to 69.7% from 69.5% a year ago - ADR, or average daily rate, was up by 1.9% to $103.57 - The 6 contributed or initial assets RevPAR was up 4.6% and the acquired assets RevPAR increased 35 basis points. Total portfolio revenue in the first quarter was up 126.3% versus our predecessor influenced by the $9.1 million of revenues added by the ten new hotels acquired since the IPO and the continued transition to new management at several of our hotels. As we discussed last quarter, that change doesn't always have an immediate impact on revenue - typically a two to four-quarter lag - but as the $304K growth in hotel operating profit on a proforma basis shows we can usually make a quick impact on the expense side. The outlook for the hotel industry continues to be an optimistic one. The Travel Industry Association of America's Spring 2004 travel forecast is bullish for spring travel, predicting Americans will take 270.2 million trips during March, April and May, an increase of 3.3% over last year. The forecast {PAGE} First Quarter Conference Call Outline Page 3 Draft #1 calls for the strongest spring travel season since the spring of 2001. TIA predicts spring 2004 leisure travel will show a positive growth of 3.1% over last spring, the highest volume of spring person-trips in five years. On the business side, TIA forecasts a 5% hike in business and convention travel volume this spring compared with last year. American business travelers plan on taking nearly 45 million business trips, going more than 50 miles, the highest number since spring of 2001. While the impact of this travel will be felt in different degrees across the country, we have no doubt that it will be a net positive for our bookings in the next several months. We believe our diversified portfolio is 265045	Ashford Ashford Hospitality Trust Inc. ( Real Estate ) As referenced in this First Quarter 2004 Conference Call: ASHFORD HOSPITALITY TRUST – {DOCUMENT} {TYPE}EX-99.24 {SEQUENCE}2 {FILENAME}d15191exv99w24.txt {DESCRIPTION}EARNINGS CONFERENCE CALL TRANSCRIPT {TEXT} {PAGE} EXHIBIT 99.24 ASHFORD HOSPITALITY TRUST FIRST QUARTER 2004 CONFERENCE CALL INTRODUCTORY COMMENTS - TRIPP SULLIVAN Good afternoon and welcome to this Ashford Hospitality Trust conference call to review _____________ Ashford Hospitality Trust – TEXT} {PAGE} EXHIBIT 99.24 ASHFORD HOSPITALITY TRUST FIRST QUARTER 2004 CONFERENCE CALL INTRODUCTORY COMMENTS - TRIPP SULLIVAN Good afternoon and welcome to this Ashford Hospitality Trust conference call to review the Company's results for the first quarter of 2004. On the call this morning will be Monty Bennett, _____________ Ashford Hospitality Trust. – the returns on the significant investment activity of the last two quarters. We are very excited about the growth opportunities we see for Ashford Hospitality Trust. As we stated during our IPO, we believe the lodging cycle is at a point where demand is outpacing supply, attractive current _____________ Ashford Hospitality Trust. – now be happy to answer any questions you may have. ENDING - MONTY BENNETT Thank you for your participation today and your interest in Ashford Hospitality Trust. {/TEXT} {/DOCUMENT} _____________ dt 165458
$42	Full Doc	2002	Third Quarter, 2002 Earnings Conference Call Transcript Third Quarter, 2002 Earnings Conference Call Transcript (39K) Doc #267852: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-99 {SEQUENCE}5 {FILENAME}ex99-3webcast.txt {DESCRIPTION}WEBCAST {TEXT} EXHIBIT 99.3 SLIDE 1: This slide contains the logo of Home Properties of New York, Inc. as well as the following: Third Quarter 2002 Earnings Conference Call and Webcast November 1, 2002 {TABLE} {CAPTION} {S} {C} {C} {C} PHOTO PHOTO PHOTO PHOTO Norman Leenhouts Ed Pettinella David Gardner Charis Copin Chairman and Executive Vice President Sr. Vice President and Vice President Co-CEO and Director Chief Financial Officer Investor Relations {/TABLE} THIRD QUARTER, 2002 EARNINGS CONFERENCE CALL TRANSCRIPT (Charis) Good morning. This is Charis Copin, Vice President of Investor Relations. Thank you for participating in our third quarter earnings conference call. We are broadcasting this call live over the Internet. You can view supporting, synchronized slides via our Web site at www.homeproperties.com. The complete webcast will be available for playback through our web site within about 90 minutes following its conclusion. Here with me this morning are Norman Leenhouts, Chairman and Co-Chief Executive Officer, Ed Pettinella, Executive Vice President and Director, and David Gardner, Sr. Vice President and Chief Financial Officer. {PAGE} SLIDE 2: This slide contains the logo of Home Properties of New York, Inc. and the title "Forward Looking Statements." The body of the slide reads as follows: This presentation contains forward-looking statements. Although the Company believes expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be achieved. Also, the content of this conference call contains time-sensitive information that, subject to the safe harbor statement, is accurate only as of the date of this call. (Charis continued) Before we begin, I would like to remind you that some of our discussion this morning will involve forward-looking statements. Please refer to the safe-harbor language included in our news release, which describes certain risk factors that may impact our future results. Also, the content of this conference call contains time-sensitive information that, subject to the safe harbor statement, is accurate only as of the date of this call. Please be aware that this call is being recorded and members of the media may be participating. I will assume that all of you have already seen our earnings news release, which was issued early this morning. We have also made available several pages of supplemental schedules. If you didn't receive this information and would like to get on our distribution list, give Yvonne a call at 585-246-4140. The news release, followed by the supplemental schedules, is also available today on our web site. Now, David will discuss our financial results for the quarter. {PAGE} SLIDE 3: This slide contains the logo of Home Properties of New York, Inc. and the following title: "FFO Per Share". The slide also contains a graph listing Q3 2001 and Q3 2002 from left to right along the x-axis. Along the left side of the y-axis are the points $0.00, $0.20, $0.40, $0.60, $0.80 and $1.00. There is a bar above the point on the x-axis marked Q3 2001 with the figure $0.84 printed above the bar and there is a bar above the point on the x-axis marked Q3 2002 with the figure $0.81 printed above the bar. (David) Thanks Charis. Good morning everyone. Before we discuss our third quarter results, I would just like to remind you that last quarter we added more data and a number of new schedules to our Supplemental Information so you may want to refer to that packet if there is particular information you are interested in. Now turning to results for the quarter. Given the continued weakness in the multifamily sector operating environment, on a comparative basis, we are pleased with results for the third quarter which met analysts' consensus estimates. We generated $37.4 million in total Funds From Operations for the third quarter, which was a decrease of 1.2% from the prior year. FFO per share of $0.81 for the current quarter was down from $0.84 in the quarter a year ago, a decrease of 3.5%. {PAGE} SLIDE 4: This slide contains the logo of Home Properties of New York, Inc. and the following title: "Core Property Performance". The slide also contains the following table: Q3 2001 Q3 2002 Rental Rates + 5.0% Rental Revenues + 4.4% Other Income + 23.5% Total Income + 5.1% Operating Expenses + 6.8% Net Operating Income + 4.0% Occupancy Percentage 93.7% 93.1% The is noted at the bottom of the slide: "Reflects 34,540 apartment units owned throughout 2001 and 2002." (David continued) During the quarter, we saw improvement in our core property performance compared to last year's third quarter. We achieved 4.4% growth in core property rental revenues, as a result of rental rate increases, which averaged 5.0%, offset by a 267852	Home Properties Home Properties of New York, Inc. As referenced in this Third Quarter, 2002 Earnings Conference Call Transcript: Home Properties of New York, Inc – TYPE}EX-99 {SEQUENCE}5 {FILENAME}ex99-3webcast.txt {DESCRIPTION}WEBCAST {TEXT} EXHIBIT 99.3 SLIDE 1: This slide contains the logo of Home Properties of New York, Inc . as well as the following: Third Quarter 2002 Earnings Conference Call and Webcast November 1, 2002 {TABLE} {CAPTION} {S} {C} {C} {C} _____________ Home Properties of New York, Inc – Vice President and Director, and David Gardner, Sr. Vice President and Chief Financial Officer. {PAGE} SLIDE 2: This slide contains the logo of Home Properties of New York, Inc . and the title "Forward Looking Statements." The body of the slide reads as follows: This presentation contains forward-looking statements. Although the _____________ Home Properties of New York, Inc – on our web site. Now, David will discuss our financial results for the quarter. {PAGE} SLIDE 3: This slide contains the logo of Home Properties of New York, Inc . and the following title: "FFO Per Share". The slide also contains a graph listing Q3 2001 and Q3 2002 from left to _____________ Home Properties of New York, Inc – from $0.84 in the quarter a year ago, a decrease of 3.5%. {PAGE} SLIDE 4: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Core Property Performance". The slide also contains the following table: Q3 2001 Q3 2002 Rental Rates + 5.0% _____________ Home Properties of New York, Inc –* result, the Other Income line for the quarter shows a loss of $130,000. {PAGE} SLIDE 5: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Core Property Operating Expenses" with the following table presented: Q3 Year-over-Year Change $(000'S) % Electricity $ 240 _____________ dt 159583 ; Home Properties Home Properties of New York, Inc. ( Real Estate ) As referenced in this Third Quarter, 2002 Earnings Conference Call Transcript: Home Properties of New York, Inc – TYPE}EX-99 {SEQUENCE}5 {FILENAME}ex99-3webcast.txt {DESCRIPTION}WEBCAST {TEXT} EXHIBIT 99.3 SLIDE 1: This slide contains the logo of Home Properties of New York, Inc . as well as the following: Third Quarter 2002 Earnings Conference Call and Webcast November 1, 2002 {TABLE} {CAPTION} {S} {C} {C} {C} _____________ Home Properties of New York, Inc – Vice President and Director, and David Gardner, Sr. Vice President and Chief Financial Officer. {PAGE} SLIDE 2: This slide contains the logo of Home Properties of New York, Inc . and the title "Forward Looking Statements." The body of the slide reads as follows: This presentation contains forward-looking statements. Although the _____________ Home Properties of New York, Inc – on our web site. Now, David will discuss our financial results for the quarter. {PAGE} SLIDE 3: This slide contains the logo of Home Properties of New York, Inc . and the following title: "FFO Per Share". The slide also contains a graph listing Q3 2001 and Q3 2002 from left to _____________ Home Properties of New York, Inc – from $0.84 in the quarter a year ago, a decrease of 3.5%. {PAGE} SLIDE 4: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Core Property Performance". The slide also contains the following table: Q3 2001 Q3 2002 Rental Rates + 5.0% _____________ Home Properties of New York, Inc –* result, the Other Income line for the quarter shows a loss of $130,000. {PAGE} SLIDE 5: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Core Property Operating Expenses" with the following table presented: Q3 Year-over-Year Change $(000'S) % Electricity $ 240 _____________ dt 159583 ;	Home Properties Home Properties, Inc. ( Real Estate )
$41	Full Doc	2002	Second Quarter, 2002 Earnings Conference Call Transcript Second Quarter, 2002 Earnings Conference Call Transcript (48K) Doc #267858: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-99 {SEQUENCE}5 {FILENAME}q2scriptwebcast.txt {TEXT} SLIDE 1: This slide contains the logo of Home Properties of New York, Inc. as well as the following: Second Quarter 2002 Earnings Conference Call and Webcast August 9, 2002 {TABLE} {CAPTION} {S} {C} {C} {C} PHOTO PHOTO PHOTO PHOTO Norman Leenhouts Ed Pettinella David Gardner Charis Copin Chairman and Executive Vice President Sr. Vice President and Vice President Co-CEO and Director Chief Financial Officer Investor Relations {/TABLE} SECOND QUARTER, 2002 EARNINGS CONFERENCE CALL TRANSCRIPT (Charis) Good morning. This is Charis Copin, Vice President of Investor Relations. Thank you for participating in our second quarter earnings conference call. We are broadcasting this call live over the Internet. You can view supporting, synchronized slides via our Web site at www.homeproperties.com. The complete webcast will be available for playback through our web site within about 90 minutes following its conclusion. I would also like to refer invited participants to the phone number on the invitation that was previously faxed. That number is the only one that can be used for questions. The number referred to in the news release issued this morning is for a "listen only" mode. If you need the call-in number to ask questions, please call us at 585-246-4140, and Yvonne will provide those authorized with the number. Here with me this morning are Norman Leenhouts, Chairman and Co-Chief Executive Officer, Ed Pettinella, Executive Vice President and Director, and David Gardner, Sr. Vice President and Chief Financial Officer. {PAGE} SLIDE 2: This slide contains the logo of Home Properties of New York, Inc. and the title "Forward Looking Statements." The body of the slide reads as follows: This presentation contains forward-looking statements. Although the Company believes expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be achieved. Also, the content of this conference call contains time-sensitive information that, subject to the safe harbor statement, is accurate only as of the date of this call. (Charis continued) Before we begin, I would like to remind you that some of our discussion this morning will involve forward-looking statements. Please refer to the safe-harbor language included in our news release, which describes certain risk factors that may impact our future results. Also, the content of this conference call contains time-sensitive information that, subject to the safe harbor statement, is accurate only as of the date of this call. Please be aware that this call is being recorded and members of the media may be participating. I will assume that all of you have already seen our earnings news release, which was issued early this morning. We have also made available several pages of supplemental schedules. If you didn't receive this information and would like to get on our distribution list, give us a call. The news release and supplemental schedules are also available today on our web site. Now, David will discuss our financial results for the quarter. {PAGE} SLIDE 3: This slide contains the logo of Home Properties of New York, Inc. and the following title: "Additions to Supplemental Schedule". The slide also contains the following: * Cap rates added to acquisition schedule * 10-year maturity schedule added to debt schedule * Resident info: moveouts, traffic, turnover, bad debts (David) Thanks Charis. Good morning everyone. Before we discuss our results for the quarter, I would like to describe several changes we have made for the first time this quarter to the Supplemental Information we distribute. We have enhanced some existing schedules and added several new schedules. While we are pleased that Home Properties has gotten high marks among our REIT peers for the level of detail of our disclosure, we continue to try to be responsive to requests for even more information. To that end we added a variety of new information. We have added CAP rate information to our Summary of Recent Acquisitions table. Although we always quote the first year yield in each acquisition press release, this bit of information was lacking on this schedule. Even though we have always supplied a very detailed Debt Summary Schedule each quarter, we have tried to make it easier to find frequently requested information. To that end, we have added a ten-year maturing debt section which shows maturing debt by dollar amount, by weighted average rate percentage, and by percentage of total debt. One of our new supplemental schedules contains various resident information for the current quarter and year-to-date, including: Reasons for Moveouts, Traffic Percentages, Turnover Percentages, and Resident Bad Debt Information. This is information we have always tracked and, many times, referred to in conference calls. We will continue to update this schedule each quarter. {PAGE} SLIDE 4: This slide contains the logo of Home Properties of New York, Inc. and the following title: "Additions to Supplemental Schedules". The slide also contains the following: * Capital expenditures/repairs and maintenance detail (David continued) Finally, and probably most important, we are publishing the results of a comprehensive study just completed relative to our capital expenditure 267858	Home Properties Home Properties of New York, Inc. As referenced in this Second Quarter, 2002 Earnings Conference Call Transcript: Home Properties of New York, Inc – {DOCUMENT} {TYPE}EX-99 {SEQUENCE}5 {FILENAME}q2scriptwebcast.txt {TEXT} SLIDE 1: This slide contains the logo of Home Properties of New York, Inc . as well as the following: Second Quarter 2002 Earnings Conference Call and Webcast August 9, 2002 {TABLE} {CAPTION} {S} {C} {C} {C} _____________ Home Properties of New York, Inc – Vice President and Director, and David Gardner, Sr. Vice President and Chief Financial Officer. {PAGE} SLIDE 2: This slide contains the logo of Home Properties of New York, Inc . and the title "Forward Looking Statements." The body of the slide reads as follows: This presentation contains forward-looking statements. Although the _____________ Home Properties of New York, Inc – on our web site. Now, David will discuss our financial results for the quarter. {PAGE} SLIDE 3: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Additions to Supplemental Schedule". The slide also contains the following: * Cap rates added to acquisition schedule * 10-year _____________ Home Properties of New York, Inc – referred to in conference calls. We will continue to update this schedule each quarter. {PAGE} SLIDE 4: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Additions to Supplemental Schedules". The slide also contains the following: * Capital expenditures/repairs and maintenance detail (David continued) _____________ Home Properties of New York, Inc – However, over time, if this amount is not spent, a property will gradually deteriorate. {PAGE} SLIDE 5: This slide contains the logo of Home Properties of New York, Inc . and the following title: "FFO Per Share". The slide also contains a graph listing Q2 2001 and Q2 2002 from left to _____________ dt 159587 ; Home Properties Home Properties of New York, Inc. ( Real Estate ) As referenced in this Second Quarter, 2002 Earnings Conference Call Transcript: Home Properties of New York, Inc – {DOCUMENT} {TYPE}EX-99 {SEQUENCE}5 {FILENAME}q2scriptwebcast.txt {TEXT} SLIDE 1: This slide contains the logo of Home Properties of New York, Inc . as well as the following: Second Quarter 2002 Earnings Conference Call and Webcast August 9, 2002 {TABLE} {CAPTION} {S} {C} {C} {C} _____________ Home Properties of New York, Inc – Vice President and Director, and David Gardner, Sr. Vice President and Chief Financial Officer. {PAGE} SLIDE 2: This slide contains the logo of Home Properties of New York, Inc . and the title "Forward Looking Statements." The body of the slide reads as follows: This presentation contains forward-looking statements. Although the _____________ Home Properties of New York, Inc – on our web site. Now, David will discuss our financial results for the quarter. {PAGE} SLIDE 3: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Additions to Supplemental Schedule". The slide also contains the following: * Cap rates added to acquisition schedule * 10-year _____________ Home Properties of New York, Inc – referred to in conference calls. We will continue to update this schedule each quarter. {PAGE} SLIDE 4: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Additions to Supplemental Schedules". The slide also contains the following: * Capital expenditures/repairs and maintenance detail (David continued) _____________ Home Properties of New York, Inc – However, over time, if this amount is not spent, a property will gradually deteriorate. {PAGE} SLIDE 5: This slide contains the logo of Home Properties of New York, Inc . and the following title: "FFO Per Share". The slide also contains a graph listing Q2 2001 and Q2 2002 from left to _____________ dt 159587 ;	Home Properties Home Properties, Inc. ( Real Estate )
$47	Full Doc	2002	Script of Conference Call and Description of Slides Script of Conference Call and Description of Slides (44K) Doc #267862: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-99 {SEQUENCE}5 {FILENAME}conferencecallex99.txt {DESCRIPTION}CONFERENCE CALL {TEXT} May 3, 2002 First Quarter Conference Call Slides Script of Conference Call and Description of Slides (Charis) Good morning. This is Charis Copin, Vice President of Investor Relations. Thank you for participating in our first quarter earnings conference call. We are broadcasting this call live over the Internet. You can view supporting, synchronized slides via our Web site at www.homeproperties.com. The complete webcast will be available for playback through our web site within about 90 minutes following its conclusion. I would also like to refer invited participants to the phone number on the invitation that was previously faxed. That number is the only one that can be used for questions. The number referred to in the news release issued this morning is for a "listen only" mode. If you need the call-in number to ask questions, please call us at 716-246-4140, and Yvonne will provide those authorized with the number. Here with me this morning are Norman Leenhouts, Chairman and Co-Chief Executive Officer, Ed Pettinella, Executive Vice President and Director, and David Gardner, Sr. Vice President and Chief Financial Officer. SLIDE 1: This slide contains the logo of Home Properties of New York, Inc. as well as the following: {TABLE} {CAPTION} First Quarter 2002 Earnings Conference Call and Webcast May 3, 2002 ------------------------------ ------------------------- ------------------------------ ------------------------------ PHOTO PHOTO PHOTO PHOTO ------------------------------ ------------------------- ------------------------------ ------------------------------ {s} {c} {c} {c} {c} ------------------------------ ------------------------- ------------------------------ ------------------------------ Norman Leenhouts Ed Pettinella David Gardner Charis Copin ------------------------------ ------------------------- ------------------------------ ------------------------------ ------------------------------ ------------------------- ------------------------------ ------------------------------ Chairman and Executive Vice Sr. Vice President and Vice President ------------------------------ ------------------------- ------------------------------ ------------------------------ ------------------------------ ------------------------- ------------------------------ ------------------------------ Co-CEO President and Chief Financial Investor Relations ------------------------------ ------------------------- ------------------------------ ------------------------------ ------------------------------ ------------------------- ------------------------------ ------------------------------ Director Officer ------------------------------ ------------------------- ------------------------------ ------------------------------ {/TABLE} {PAGE} (Charis continued) Before we begin, I would like to remind you that some of our discussion this morning will involve forward-looking statements. Please refer to the safe-harbor language included in our news release, which describes certain risk factors that may impact our future results. Also, the content of this conference call contains time-sensitive information that, subject to the safe harbor statement, is accurate only as of the date of this call. Please be aware that this call is being recorded and members of the media may be participating. I will assume that all of you have already seen our earnings news release, which was issued early this morning. We have also made available several pages of supplemental schedules. If you didn't receive this information and would like to get on our distribution list, give us a call. The news release and supplemental schedules are also available today on our web site. Now, David will discuss our financial results for the quarter. SLIDE 2: This slide contains the logo of Home Properties of New York, Inc. and the following title: "Forward Looking Statements" This presentation contains forward-looking statements. Although the Company believes expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be achieved. Also, the content of this conference call contains time-sensitive information that, subject to the safe harbor statement, is accurate only as of the date of this call. {PAGE} (David) Thanks, Charis. Good morning everyone. We were very pleased with our results for the first quarter, which met analysts' consensus estimates. We generated 8.3% growth in total Funds From Operations, with FFO per share up 5.8% over the year ago quarter. SLIDE 3: This slide contains the logo of Home Properties of New York, Inc. and the following title: "FFO Per Share". The slide also contains a graph listing Q1 2001 and Q1 2002 from left to right along the x-axis. Along the left side of the y-axis are the points $0.00, $0.20, $0.40, $0.60, $0.80 and $1.00. There is a bar above the point on the x-axis marked Q1 2001 with the figure $0.60 printed above the bar and there is a bar above the point on the x-axis marked Q1 2002 with the figure $0.63 printed above the bar. Inside this bar is the figure "+5.8%". {PAGE} (David continued) During the quarter, we also saw improvement in our core property performance compared to last year's first quarter. We achieved 4.3% growth in core property rental revenues, as a result of rental rate increases, which averaged 8.1%, offset by a decline in occupancy of 3.3% percent. We are most pleased with the 8.1% growth in rental rates, since this is now the fifth quarter in a row we've hit a new record high. Higher rental rates also have helped mitigate the effects of the lower occupancy levels our industry is currently experiencing. We believe our ability to continue to raise rents even in the current soft market, continues to validate our repositioning strategy and the geographic markets we have targeted. Just to review, since this is a new year, our definition of "core" communities has been updated to include the 5,334 net acquisitions that were completed in 2000. A total of 35,848 units are now included in our core communities, which represents 90% of our owned portfolio. On the expense side, we saw a decrease of seventy basis points in the operating expenses of our core properties compared to the first quarter a year ago. This was primarily due to decreases in natural gas and snow removal costs. These reduced costs were partially offset by increases in personnel expense, property insurance and real estate taxes. We are very pleased with the net operating income growth of 9.2% in the first quarter. We believe this is an excellent NOI result, on both an absolute 267862	Home Properties Home Properties of New York, Inc. As referenced in this Script of Conference Call and Description of Slides: Home Properties of New York, Inc – Executive Vice President and Director, and David Gardner, Sr. Vice President and Chief Financial Officer. SLIDE 1: This slide contains the logo of Home Properties of New York, Inc . as well as the following: {TABLE} {CAPTION} First Quarter 2002 Earnings Conference Call and Webcast May 3, 2002 ------------------------------ ------------------------- ------------------------------ ------------------------------ PHOTO PHOTO PHOTO PHOTO ------------------------------ ------------------------- ------------------------------ ------------------------------ { _____________ Home Properties of New York, Inc – today on our web site. Now, David will discuss our financial results for the quarter. SLIDE 2: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Forward Looking Statements" This presentation contains forward-looking statements. Although the Company believes expectations reflected in such forward- _____________ Home Properties of New York, Inc – Funds From Operations, with FFO per share up 5.8% over the year ago quarter. SLIDE 3: This slide contains the logo of Home Properties of New York, Inc . and the following title: "FFO Per Share". The slide also contains a graph listing Q1 2001 and Q1 2002 from left to _____________ Home Properties of New York, Inc – estimated to be about 5.3%, or 3.9% less than the 9.2% reported. SLIDE 4: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Core Property Performance" The is noted at the bottom of the slide: "Reflects 35,848 apartment units owned _____________ Home Properties of New York, Inc – We're hopeful that our good start this year will help us maintain this position. SLIDE 5: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Multifamily REIT Same-Store NOI Growth 2001". The slide also contains a bar graph listing the following points: _____________ dt 159589 ; Home Properties Home Properties of New York, Inc. ( Real Estate ) As referenced in this Script of Conference Call and Description of Slides: Home Properties of New York, Inc – Executive Vice President and Director, and David Gardner, Sr. Vice President and Chief Financial Officer. SLIDE 1: This slide contains the logo of Home Properties of New York, Inc . as well as the following: {TABLE} {CAPTION} First Quarter 2002 Earnings Conference Call and Webcast May 3, 2002 ------------------------------ ------------------------- ------------------------------ ------------------------------ PHOTO PHOTO PHOTO PHOTO ------------------------------ ------------------------- ------------------------------ ------------------------------ { _____________ Home Properties of New York, Inc – today on our web site. Now, David will discuss our financial results for the quarter. SLIDE 2: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Forward Looking Statements" This presentation contains forward-looking statements. Although the Company believes expectations reflected in such forward- _____________ Home Properties of New York, Inc – Funds From Operations, with FFO per share up 5.8% over the year ago quarter. SLIDE 3: This slide contains the logo of Home Properties of New York, Inc . and the following title: "FFO Per Share". The slide also contains a graph listing Q1 2001 and Q1 2002 from left to _____________ Home Properties of New York, Inc – estimated to be about 5.3%, or 3.9% less than the 9.2% reported. SLIDE 4: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Core Property Performance" The is noted at the bottom of the slide: "Reflects 35,848 apartment units owned _____________ Home Properties of New York, Inc – We're hopeful that our good start this year will help us maintain this position. SLIDE 5: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Multifamily REIT Same-Store NOI Growth 2001". The slide also contains a bar graph listing the following points: _____________ dt 159589 ;	Home Properties Home Properties, Inc. ( Real Estate )
$42	Full Doc	2002	Script of Conference Call And Description of Slides Script of Conference Call And Description of Slides (41K) Doc #267879: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-99 {SEQUENCE}5 {FILENAME}form8kfeb_8ex993.txt {DESCRIPTION}EXHIBIT 99.3 CONFERENCE CALL AND SLIDES 2/8/02 {TEXT} Exhibit 99.3 February 8, 2002 Fourth Quarter Conference Call Slides Script of Conference Call adn Description of Slides (Charis) Good morning. This is Charis Copin, Vice President of Investor Relations. Thank you for participating in our fourth quarter earnings conference call. We are broadcasting this call live over the Internet. You can view supporting, synchronized slides via our Web site at www.homeproperties.com. The complete webcast will be available for playback through our web site within about 90 minutes following its conclusion. I would also like to refer invited participants to the phone number on the invitation that was previously faxed. That number is the only one that can be used for questions. The number referred to in the press release issued this morning is for a "listen only" mode. If you need the call-in number to ask questions, please call us at 716-246-4140, and Yvonne will provide those authorized with the number. Here with me this morning are Norman Leenhouts, Chairman and Co-Chief Executive Officer, Ed Pettinella, Executive Vice President and Director, and David Gardner, Sr. Vice President and Chief Financial Officer. SLIDE 1: This slide contains the logo of Home Properties of New York, Inc. as well as the following: Fourth Quarter 2001 Earnings Conference Call and Webcast February 8, 2002 PHOTO PHOTO PHOTO PHOTO Norman Leenhouts Ed Pettinella David Gardner Charis Copin Chairman and Executive Vice Sr. Vice President and Vice President Co-CEO President and Chief Financial Investor Relations Director Officer {PAGE} (Charis continued) Before we begin, I would like to remind you that some of our discussion this morning will involve forward-looking statements. Please refer to the safe-harbor language included in our press release, which describes certain risk factors that may impact our future results. Also, the content of this conference call contains time-sensitive information that, subject to the safe harbor statement, is accurate only as of the date of this call. Please be aware that this call is being recorded and members of the press may be participating. I will assume that all of you have already seen our earnings press release, which was issued early this morning. We have also made available several pages of supplemental schedules. If you didn't receive this information and would like to get on our distribution list, give us a call. The press release and supplemental schedules are also available today on our web site. Now, David will discuss our financial results for the quarter. SLIDE 2: This slide contains the logo of Home Properties of New York, Inc. and the following title: "Forward Looking Statements" "This presentation contains forward-looking statements. Although the Company believes expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be achieved. " Also, the content of this conference call contains time-sensitive information that, subject to the safe harbor statement, is accurate only as of the date of this call. {PAGE} Thanks, Charis. Good morning everyone. We were very pleased with our results for the fourth quarter, which were in line with analysts' consensus estimates. We generated 14% growth in total Funds From Operations, with FFO per share up 9.3% over the year ago quarter. For the full year, our total FFO rose 13%, with FFO per share increasing by 3.2% to $3.03. The year's results are dramatically affected by the negative impact from increased natural gas costs concentrated in the first quarter. SLIDE 3: This slide contains the logo of Home Properties of New York, Inc. and the following title: "FFO Per Share". The slide also contains a graph listing Q4 2000 and Q4 2001 from left to right along the x-axis. Along the left side of the y-axis are the points $0.00, $0.20, $0.40, $0.60, $0.80 and $1.00. There is a bar above the point on the x-axis marked Q4 2000 with the figure $0.75 printed above the bar and there is a bar above the point on the x-axis marked Q4 2001 with the figure $0.82 printed above the bar. Inside this bar is the figure "+9.3%". {PAGE} (David continued) During the quarter, we also saw improvement in our core property performance compared to last year's fourth quarter. We achieved 5.4% growth in core property rental revenues, as a result of rental rate increases, which averaged 7.9%, offset by a decline in occupancy of 2.2% percent. We are most pleased with the 7.9% growth in rental rates, since this is now the fourth quarter in a row we've hit a new record high. Higher rental rates also have helped mitigate the effects of the lower occupancy levels our industry is currently experiencing. On the expense side, we saw a decrease of 5.6% in core properties' operating expenses compared to the fourth quarter a year ago. Increases in utility costs were offset by decreases in repairs and maintenance, personnel, advertising and property insurance costs. The decrease in insurance costs recorded in the fourth quarter is due to the settlement of a legal claim during the quarter and actually represents a full year's worth of savings. If the actual expense had been recorded ratably over the whole year, the net operating income increase for the fourth quarter of 2001 would have been 9.5% compared to the 12.9% NOI growth we reported. Either way, we believe this is an excellent NOI result in the very difficult operating environment we experienced last year. As we have explained many times before, some of our same-property NOI growth reflects a return on incremental investments in our communities above and beyond normal capital replacements. After charging ourselves a 10% cost of capital on these additional expenditures, the adjusted NOI growth that was added to the bottom line during the fourth quarter of 2001 is estimated to be about 9%, or 3.9% less than the 12.9% reported. For the year, we rebounded from a disappointing first quarter to post a very respectable NOI growth rate of 7.7%, driven by our most successful year yet in terms of top line rental rate growth. SLIDE 4: This slide contains the logo of Home Properties of New York, Inc. and the following title: "Core Property Performance" The is noted at the bottom of the slide: "Reflects 30,802 apartment units owned throughout 2000 and 2001." The following table is also on the slide: 4Q 2001 Year 2001 ------- --------- Rental Rates + 7.9% +7.1% Rental Revenues + 5.4% +6.2% 267879	Home Properties Home Properties of New York, Inc. As referenced in this Script of Conference Call And Description of Slides: Home Properties of New York, Inc – Executive Vice President and Director, and David Gardner, Sr. Vice President and Chief Financial Officer. SLIDE 1: This slide contains the logo of Home Properties of New York, Inc . as well as the following: Fourth Quarter 2001 Earnings Conference Call and Webcast February 8, 2002 PHOTO PHOTO PHOTO PHOTO Norman Leenhouts _____________ Home Properties of New York, Inc – today on our web site. Now, David will discuss our financial results for the quarter. SLIDE 2: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Forward Looking Statements" "This presentation contains forward-looking statements. Although the Company believes expectations reflected in such forward- _____________ Home Properties of New York, Inc – affected by the negative impact from increased natural gas costs concentrated in the first quarter. SLIDE 3: This slide contains the logo of Home Properties of New York, Inc . and the following title: "FFO Per Share". The slide also contains a graph listing Q4 2000 and Q4 2001 from left to _____________ Home Properties of New York, Inc – driven by our most successful year yet in terms of top line rental rate growth. SLIDE 4: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Core Property Performance" The is noted at the bottom of the slide: "Reflects 30,802 apartment units owned _____________ Home Properties of New York, Inc – whole story is natural gas expenses, which were up 43%, or over $4.1 million. SLIDE 5: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Core Property Operating Expenses", followed by the following table: 4th Quarter Full Year Variance Variance $ % $ % ------ --------- ------ --------- Electricity $ 123 10. _____________ dt 159602 ; Home Properties Home Properties of New York, Inc. ( Real Estate ) As referenced in this Script of Conference Call And Description of Slides: Home Properties of New York, Inc – Executive Vice President and Director, and David Gardner, Sr. Vice President and Chief Financial Officer. SLIDE 1: This slide contains the logo of Home Properties of New York, Inc . as well as the following: Fourth Quarter 2001 Earnings Conference Call and Webcast February 8, 2002 PHOTO PHOTO PHOTO PHOTO Norman Leenhouts _____________ Home Properties of New York, Inc – today on our web site. Now, David will discuss our financial results for the quarter. SLIDE 2: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Forward Looking Statements" "This presentation contains forward-looking statements. Although the Company believes expectations reflected in such forward- _____________ Home Properties of New York, Inc – affected by the negative impact from increased natural gas costs concentrated in the first quarter. SLIDE 3: This slide contains the logo of Home Properties of New York, Inc . and the following title: "FFO Per Share". The slide also contains a graph listing Q4 2000 and Q4 2001 from left to _____________ Home Properties of New York, Inc – driven by our most successful year yet in terms of top line rental rate growth. SLIDE 4: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Core Property Performance" The is noted at the bottom of the slide: "Reflects 30,802 apartment units owned _____________ Home Properties of New York, Inc – whole story is natural gas expenses, which were up 43%, or over $4.1 million. SLIDE 5: This slide contains the logo of Home Properties of New York, Inc . and the following title: "Core Property Operating Expenses", followed by the following table: 4th Quarter Full Year Variance Variance $ % $ % ------ --------- ------ --------- Electricity $ 123 10. _____________ dt 159602 ;	Home Properties Home Properties, Inc. ( Real Estate )
$41	Full Doc	2001	November 2, 2001 Third Quarter Conference Call Script and Slides November 2, 2001 Third Quarter Conference Call Script and Slides (29K) Doc #267888: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-99 {SEQUENCE}5 {FILENAME}form8k11_2exh2.txt {DESCRIPTION}EXHIBIT 99.3 CONFERENCE CALL SCRIPT AND SLIDES {TEXT} Exhibit 99.3 November 2, 2001 Third Quarter Conference Call Script and Slides SLIDE 1: This slide contains the logo of Home Properties of New York, Inc. as well as the following statement: Third Quarter 2001 Earnings Conference Call and Webcast November 2, 2001. This statement is followed by photographs of Norman Leenhouts, Chairman and Co-CEO, David Gardner, Sr. Vice President and Chief Financial Officer and Charis Copin, Vice President, Investor Relations. Below each picture is written the officer's name and title of the office held. (Charis) Good morning. This is Charis Copin, Vice President of Investor Relations. Thank you for participating in our third quarter earnings conference call. We are broadcasting this call live over the Internet. You can view supporting, synchronized slides via our Web site at www.homeproperties.com. The complete webcast will be available for playback through our web site within about 90 minutes following its conclusion. I would also like to refer invited participants to the phone number on the invitation that was previously faxed. That number is the only one that can be used for questions. The number referred to in the press release issued this morning is for a "listen only" mode. If you need the call-in number to ask questions, please call us at 716-246-4140, and Yvonne will provide those authorized with the number. Here with me this morning are Norman Leenhouts, Chairman and Co-Chief Executive Officer and David Gardner, Sr. Vice President and Chief Financial Officer. Ed Pettinella, Executive Vice President and Director typically would join us on the call, but is unable to be here today due to a family medical situation. SLIDE 2: This slide contains the logo of Home Properties of New York, Inc. and the following title: "Forward Looking Statements" "This presentation contains forward-looking statements. Although the Company believes expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be achieved." Also, the content of this conference call contains time-sensitive information that, subject to the safe harbor statement, is accurate only as of the date of this call. (Charis continued) Before we begin, I would like to remind you that some of our discussion this morning will involve forward-looking statements. Please refer to the safe-harbor language included in our press release, which describes certain risk factors that may impact our future results. Also, the content of this conference call contains time-sensitive information that, subject to the safe harbor statement, is accurate only as of the date of this call. Please be aware that this call is being recorded and members of the press may be participating. {PAGE} I will assume that all of you have already seen our earnings press release, which was issued early this morning. We have also made available several pages of supplemental schedules. If you didn't receive this information and would like to get on our distribution list, give us a call. The press release and supplemental schedules are also available today on our web site. Now, David will discuss our financial results for the quarter. SLIDE 3: This slide contains the logo of Home Properties of New York, Inc. and the following title: "FFO Per Share". The slide also contains a graph listing Q3 2000 and Q3 2001 from left to right alo