Liberty Property Trust reported unaudited earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company's total operating revenue was $186,654,000 compared to $203,518,000 a year ago. Operating income was $67,533,000 compared to $70,185,000 a year ago. Income before property dispositions, income taxes, non-controlling interest and equity in earnings of unconsolidated joint ventures was $42,394,000 compared to $41,700,000 a year ago. Net income available to common shareholders was $49,627,000 compared to $35,513,000 a year ago. Diluted income per common share continuing operations was $0.34 compared to $0.24 a year ago. FFO available to common shareholders for the second quarter of 2016 was $102.2 million, or $0.68 per diluted share, compared to $103.0 million, or $0.67 per diluted share, for the second quarter of 2015. FFO for the second quarter of 2016 reflects gain on debt forgiveness of $3.3 million, or $0.02 per diluted share, with no such gains in the same period of 2015.

For the six months, the company's total operating revenue was $376,795,000 compared to $410,419,000 a year ago. Operating income was $128,776,000 compared to $122,014,000 a year ago. Income before property dispositions, income taxes, non-controlling interest and equity in earnings of unconsolidated joint ventures was $76,823,000 compared to $65,230,000 a year ago. Net income available to common shareholders was $107,181,000 compared to $66,464,000 a year ago. Diluted income per common share continuing operations was $0.73 compared to $0.45 a year ago. FFO available to common shareholders for the six months ended June 30, 2016 was $195.3 million, or $1.30 per diluted share, compared to $209.5 million, or $1.37 per diluted share, for the first six months of 2015.

For the year 2016, the company now expects to report net income per diluted share to be $2.60 to $2.70 and FFO per diluted share to be $2.30 to $2.40 against its previous forecast of net income per diluted share to be $1.25 to $1.50 and FFO per diluted share to be $2.35 to $2.55.