Investors Real Estate Trust (IRET) 2002年年度报告「NASDAQ」.pdf

1、O U R ndY E A RReport of the Trustees to the Meeting of ShareholdersSeptember 24,2002creating value for shareholdersfiscal 2002 annual reportC O N T E N T S1FISCAL 2002 FINANCIAL HIGHLIGHTS2THE COMPANY3PRESIDENTS REPORT6INVESTMENT PORTFOLIO12MANAGEMENTS DISCUSSION&ANALYSIS25DISTRIBUTION HISTORY25PER

2、FORMANCE HISTORY26INDEPENDENT AUDITORS REPORT27CONSOLIDATED FINANCIAL STATEMENTS31NOTES TO CONSOLIDATED FINANCIAL STATEMENTS40QUARTERLY RESULTS OF CONSOLIDATED OPERATIONSThresher Square Lobby Minneapolis,MNThe selected consolidated financial data set forth below for the fiscal years ended April 30,2

3、002,2001 and2000,has been derived from the our financial statements,which have been audited by Brady Martz&Associates,P.C.,independent auditors,whose report thereon is included in this report.The consolidated financial data forthe years ended April 31,1999 and 1998 have been derived from audited fin

4、ancial statements not included inthis report.These historical results are not necessarily indicative of the results to be expected in the future.Thefollowing table is qualified by reference to and should be read in conjunction with the consolidated financialstatements,related notes thereto and other

5、 financial data included elsewhere in this report.YEARSENDEDAPRIL30,20022001200019991998Consolidated Income Statement Data Revenue$93,016,069$75,767,150$55,445,193$39,927,262$32,407,545Income before Gain/Loss on Properties and Minority Interest$13,865,934$10,187,812$8,548,558$6,401,676$4,691,198Gain

6、 on Repossession/Sale of Properties546,927601,6051,754,4961,947,184465,499Minority Interest of Portion of Operating Partnership Income(3,812,732)(2,095,177)(1,495,209)(744,725)(141,788)Net Income$10,600,129$8,694,240$8,807,845$7,604,135$5,014,909Funds From Operations*$29,143,549$22,440,463$18,327,98