Question-and-Answer Session
(Operator Instructions) Your first question comes from Rick Prentiss - Raymond James.
Rick Prentiss - Raymond James
First question I got for you, obviously very strong quarter, big increase in the guidance for ?09, also a we got a very visible business here, help us kind of understand what allowed you to really go above the high end of your ranges take your guidance up so much and maybe also address what you think this year starts out as far as loading, is it heavy first half, heavy second half, kind of level loading? Just update us a little bit on that, please.
Ben Moreland
Sure, Rick. Given the economic uncertainty over the last six months, since we put out our guidance for the first quarter and for the full-year 2009, we were a bit cautious. We want to do get a few months into the year and see how the leasing developed. We certainly had signs, which we spoke to on the first quarter call that leasing was going to be in good shape, but we really wanted to see those applications come in for a few more months and then see those starts to turn into leases and get down the path a little bit.
So, I think the raise in guidance is reflective of just tenants coming in at a pace bit higher than what we had embedded into our guidance previously and we forward that through the balance of the year. As we mentioned on our first quarter call, we thought that the leasing is going to be loaded about 40% first half of the year, 60% back half of the year. Given our way from where the number shake out it would suggested, it maybe even slightly more back end loaded than previously as we didn’t increased our expectations for the latter quarters of the year.
Rick Prentiss - Raymond James
Okay and then second question, in the past you’ve given us I think in the release the non-cash revenue, non-cash expense adjustments. Do you have that or are they still kind of washing each other out a little bit?
Jay Brown
Yes, Rick, we didn’t put that in this press release and the reason for that is, it’s basically a wash and has been for a long time. Our expectation is just going to continue to be a wash.
Rick Prentiss - Raymond James
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