FRP Holdings, Inc. (NASDAQ-FRPH) Jacksonville, Florida; May 8, 2018 –
First Quarter Consolidated Results of Operations.
Net income for the first quarter of 2018 was $1,560,000 or $.15 per share versus $1,443,000 or $.14 per share in the same period last year. Total revenues were $12,622,000, up 35.4%, versus the same period last year, primarily because of the addition of rental revenues from Dock 79. Our net income was adversely impacted by $747,000 in expenses related to the pending sale of our industrial warehouse portfolio.