After Tough Q3, Vornado Will Continue To Narrow Focus

Law360, New York (November 6, 2013, 3:58 PM EST) -- Vornado Realty Trust experienced a weaker than expected third quarter and plans to continue simplifying its business in the coming months in order to avoid further profit losses, CEO Steven Roth said during an earnings call Tuesday.

Roth described the quarter as “very strong” and said he was pleased with the results, yet revenues dropped to $683.4 million from $703 million in the same quarter last year, a 2.8 percent dip. Profits suffered as well, dropping 57 percent to $104.3 million year-over-year.

“As I've said before,...
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