Gladstone Commercial Corporation (NASDAQ:GOOD) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET
Company Participants
David Gladstone - Chairman and Chief Executive Officer
Gary Gerson - Chief Financial Officer
Michael LiCalsi - General Counsel and Secretary
Robert Cutlip - President
Buzz Cooper - Co-President, Chief Investment Officer, and Executive Vice President
Conference Call Participants
Rob Stevenson - Janney Montgomery Scott
Craig Kucera - B. Riley Securities
Brian Hollenden - Aegis Capital
James Villard - Ladenburg Thalmann
Operator
Greetings. Welcome to Gladstone Commercial's First Quarter Earnings Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note that this conference is being recorded.
At this time, I'll turn the conference over to Mr. David Gladstone, Chief Executive Officer. Mr. Gladstone, you may begin.
David Gladstone
Okay, thank you, Rob, nice introduction, and thanks to all of you for calling in this morning. We enjoy this time that we have with you and unfortunately it is on the phone, so we just get to hear your voice when you ask a question.
Now we will first start with Michael LiCalsi. He is our General Counsel and Secretary to give us the legal and regulatory matters concerning this call that we're doing today. Michael, go ahead?
Michael LiCalsi
Thanks, David, and good morning everybody. Today's report may include forward-looking statements under the Securities Act of 1933 and Securities Exchange Act of 1934, including those regarding our future performance. Now these forward-looking statements involve certain risks and uncertainties that are based on our current plans, which we believe to be reasonable. And many factors may cause our actual results to be materially different from any future results expressed or implied by these forward-looking statements, including all the risk factors on Forms 10-Q, 10-K and other documents that we file with the SEC and you can find them on the Investors page of our website, www.gladstonecommercial.com or on the SEC's website, at www.sec.gov. And the company undertakes no obligation to publicly update or revise any of these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
And today, we will discuss FFO, which is Funds from Operations. FFO is a non-GAAP accounting term defined as net income, excluding the gains or losses from the sale of real estate, and any impairment losses on property, plus depreciation and amortization of real estate assets. We'll also discuss core FFO which are generally FFO adjusted for certain other non-recurring revenues and expenses. And we believe these metrics are a better indication of our operating results and allow better comparability of our period-over-period performance.