Compliance Systems Corporation (OPI) Reports Q4 Loss of $1.58

Compliance Systems Corporation (NASDAQ: OPI) reported Q4 EPS of ($1.58), versus ($0.79) reported last year. Revenue for the quarter came in at $103.66 million versus the consensus estimate of $96.01 million.

David Blackman, President and Chief Executive Officer of OPI, made the following statement:

"We are pleased to have successfully completed the merger with Select Income REIT to create Office Properties Income Trust, a leading national office REIT with increased scale, enhanced tenant and geographic diversification, a more laddered lease expiration schedule, a broader investment strategy and one of the highest percentages of rent paid by investment-grade rated tenants in the office sector.

We completed our disposition plan with respect to our long term financing of our acquisition of First Potomac Realty Trust, having closed approximately $520.8 million of asset sales since acquiring FPO in 2017. We have also made progress with our disposition program associated with the SIR merger, having hired brokers to market for sale 34 buildings containing approximately 5.3 million square feet, which we expect will generate more than $700 million of total gross proceeds. Our goal is to substantially complete this disposition program by mid-year 2019 and turn our attention to accretively growing OPI. We are energized by the opportunities available to OPI and we look forward to executing on our business plan."

For earnings history and earnings-related data on Compliance Systems Corporation (OPI) click here.

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