Revenues for the Same Store Facilities decreased 4.6% or $16.9 million in the quarter ended September 30, 2009 as compared to the same period in 2008, due to a 4.2% reduction in realized rent per occupied square foot, combined with a 1.0% reduction in average occupancies. Cost of operations for the Same Store Facilities declined 0.6% or $0.7 million in the quarter ended September 30, 2009 as compared to the same period in 2008. Net operating income for our Same Store Facilities decreased 6.3% or $16.2 million in the quarter ended September 30, 2009 as compared to the same period in 2008.
This business, like the real economy, is disintigrating.
Most companies have lost revenues in the last year. The results cited by Jason above don't sound too bad. I guess the people who have lost their homes to foreclosures have to put their possessions somewhere.
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This business, like the real economy, is disintigrating.