Net Drops at PS Business Parks

PS Business Parks Inc. said it earned $4.9 million or $0.22 per diluted share on revenues of $55.9 million for the fourth quarter of 2005. The performance compared with net income allocable to common shareholders of $32.3 million or $1.47 per share on revenues of $54.6 million for the like period in 2004. Officials at Glendale-based PS Business Parks said that its revenues increased as a result of improved occupancy in the company’s portfolio. The company attributed the earnings decline to a decrease in the gains from disposition of real estate.