EX-99.4 5 y40814ex99-4.txt PRO FORMA COMBINED STATEMENTS OF OPERATIONS 1 Exhibit 99.4 FIRST UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS PRO FORMA COMBINED STATEMENT OF OPERATIONS For the six months Ended June 30, 2000 (In thousands, except per share data)
Pro Forma Adjustments --------------------------------------- Sale of Sale of Temple Mall Properties Historical Crossroads 1 Sale 2 to Radiant Pro Forma ------------ ------------ ----------- ------------ ----------- Revenues Rents 25,849 (3,170) (16,225) 6,454 Sales 4,579 - 4,579 Interest - Mortgage loans 150 (36) (77) 37 - Short-term investments 4,535 (4) (103) 4,428 Dividends 112 - 112 Equity in loss from joint venture (115) 115 - - Other Income 179 (6) - 173 ------- ------- ------- ------- ------- 35,289 (3,180) 79 (16,405) 15,783 ------- ------- ------- ------- ------- Expenses Property operating 7,099 (655) (4,240) 2,204 Cost of goods sold 4,434 - 4,434 Real estate taxes 3,144 (707) (2,010) 427 Depreciation and amortization 6,222 (730) (4,434) 1,058 Interest - Mortgage loans 9,324 (2,571) (6,023) 730 - Notes payable 2,632 (48) 2,584 - Senior notes 556 - 556 General and administrative 7,901 - 7,901 ------- ------- ------- ------- ------- 41,312 (4,663) - (16,755) 19,894 ------- ------- ------- ------- ------- Loss before capital loss, extraordinary loss and preferred dividend (6,023) 1,483 79 350 (4,111) ======= ======= ======= ======= ======= Per share data Basic weighted average shares 42,470 42,470 ======= ======= Diluted weighed average shares 49,098 49,098 ======= ======= Loss before capital loss, extraordinary loss and preferred dividend, basic and diluted (0.14) (0.10) ======= =======
1) Crossroads was sold in April 2000. 2) Temple Mall was sold in August 2000.