MCLEAN, Va., Aug. 1, 2013 /PRNewswire/ -- Gladstone Land Corporation (NASDAQ: LAND) (the "Company") announced today that it plans to postpone the release of its earnings for the second quarter ended June 30, 2013, until after the stock market closes on Wednesday, August 7, 2013. The Company will hold a conference call on Thursday, August 8, 2013, at 8:30 a.m. EDT to discuss its earnings results. The Company has postponed its earnings call in order to thoroughly review tax elections available to it related to additional tax depreciation that could maximize deductions in previous years and potentially generate substantial tax refunds. The Company recently identified these additional tax depreciation deductions and requires more time to accurately complete its second quarter financial statements and to evaluate the impact of such deductions on its current and previously filed financial statements, if any.
Please call (800) 860-2442 to enter the conference call. An operator will monitor the call and set a queue for questions. A conference call replay will be available beginning one hour after the call and will be accessible through September 9, 2013. To hear the replay, please dial (877) 344-7529 and use conference number 10028880.
The live audio broadcast of the conference call will be available online at www.gladstoneland.com. The event will be archived and available for replay on the Company's website through October 9, 2013.
If you have questions prior to or following the earnings release you may e-mail them to email@example.com.
Gladstone Land Corporation is a real estate investment company that pays monthly dividends to its stockholders. Gladstone Land invests in farmland located in major agricultural markets in the United States ("U.S.") that it leases to corporate and independent farmers. The company currently owns fourteen farms (appraised at approximately $79.9 million), predominantly concentrated in locations where its tenants are able to grow row crops, such as berries, lettuce and melons, which are planted and harvested annually or more frequently. The company also may acquire property related to farming, such as storage facilities utilized for cooling crops, processing plants, packaging facilities and distribution centers. The initial public offering of the company's common stock was completed in January 2013 in which it raised $51.3 million in net proceeds to be invested by purchasing farms in the U.S. The Company has paid 6 consecutive monthly cash distributions on its common stock since going public. Additional information can be found at www.gladstoneland.com.
For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com.
The statements in this press release regarding the Company's future tax elections and the potential for tax refunds are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements inherently involve certain risks and uncertainties, although they are based on the Company's current plans that are believed to be reasonable as of the date of this press release. Factors that may cause actual results to differ materially from these forward-looking statements include, but are not limited to, factors disclosed under the caption "Risk factors" of the Company's Form 10-K for the fiscal year ended December 31, 2012, as filed with the SEC on February 19, 2013. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Gladstone Land Corporation