Avenir Diversified Income Trust (2)
SymbolAVF.UN
Shares Issued42,033,012
Close 2009-11-12C$ 4.91
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Avenir Diversified earns $11.48-million in Q3

2009-11-13 09:40 ET - News Release

Mr. William Gallacher reports

AVENIR DIVERSIFIED INCOME TRUST ANNOUNCES THIRD QUARTER 2009 RESULTS

Avenir Diversified Income Trust has released the financial and operational results for the three and nine months ended Sept. 30, 2009, and has filed the complete management discussion and analysis, and unaudited consolidated financial statements on SEDAR.

              TOTAL CONSOLIDATED FINANCIAL SUMMARY                
            (in thousands, except per-unit amounts)

                                    Three months ended Sept. 30,
                                             2009        2008(1)

Total revenue                            $165,243       $609,910
Funds from continuing operations (FFCO)     9,981         25,203
FFCO per unit -- basic                       0.24           0.60
Funds from operations (FFO)                 9,981         25,200
FFO per unit -- basic                        0.24           0.60
Distributions                               7,556         10,466
Distributions per unit -- basic              0.18           0.25
Net income (loss) from continuing
operations (NICO)                          11,482         50,721
NICO per unit -- basic                       0.27           1.21
Net income (loss)                          11,482         50,393
Net income per unit -- basic                 0.27           1.20
Total assets                              356,954        799,009
Working capital (net debt) excluding
mortgages and assets held for sale         21,875        147,100
Mortgages                                  25,637         40,798

                                     Nine months ended Sept. 30,
                                             2009        2008(1)

Total revenue                            $672,425     $1,521,578
Funds from continuing operations (FFCO)    13,351         52,267
FFCO per unit -- basic                       0.32           1.25
Funds from operations (FFO)                13,351         59,185
FFO per unit -- basic                        0.32           1.41
Distributions                              26,517         31,340
Distributions per unit -- basic              0.63           0.75
Net income (loss) from continuing
operations (NICO)                           3,678         56,171
NICO per unit -- basic                       0.09           1.34
Net income (loss)                           3,678         98,581
Net income per unit -- basic                 0.09           2.35
Total assets                              356,954        799,009
Working capital (net debt) excluding
mortgages and assets held for sale         21,875        147,100
Mortgages                                  25,637         40,798

(1) Comparative periods have been restated to conform to
current-period presentation, specifically relating to the
reclassification of the real estate division as assets
held and used.

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