* EPS $0.12 versus analysts estimates for $0.23
* Operating cash flow $327 million, or $0.53 EPS
* Declares dividend of $0.13 per Class A common share (All figures in U.S. dollars)
TORONTO, Aug 6 (Reuters) - Brookfield Asset Management Inc (BAMa.TO), an investor in property, power and other infrastructure assets, on Friday reported second-quarter profit of $89 million, coming back from a loss but missing analysts’ estimates.
Toronto-based Brookfield said earnings per share in the quarter ended June 30 were 12 cents, or about half the average view of analysts polled by Thomson Reuters for earnings of 23 cents per share. In the year-ago quarter, Brookfield reported a loss of $342 million, or 60 cents a share.
Cash flow from operations, however, jumped to $327 million, or 53 cents a share, in the quarter from from $294 million, or 49 cents a share in the same quarter of 2009.
The 11 percent increase, was due in part to continued strong performance by the company’s commercial office businesses, reflecting high occupancy levels, and improved leasing markets. It was also a reflection of “disposition gains within the company’s power generation and specialty investment operations,” Brookfield said in a statement.
Brookfield CEO Bruce Flatt said continued volatility in capital markets was providing attractive investment opportunities that the company was reviewing to add to its portfolio of assets.
The Board of Directors declared a dividend of 13 cents per Class A common share. (Reporting by Pav Jordan, editing by Dave Zimmerman)