GMH Delays Earnings Release

GMH Communities Trust, Newtown Square, Pa., has postponed the release of its results for the fourth quarter and the 2005 fiscal year, revised downward its earnings guidance for 2005, and withdrawn its earnings guidance for 2006.The real estate investment trust said the delay relates to an investigation launched by its Audit Committee following the receipt of a letter from the REIT's chief financial officer alleging, among other things, that there is a problem with the "tone at the top" of the company. The investigation "revealed evidence of several material weaknesses in the company's internal control over financial reporting" and evidence that certain "key executives" placed "significant pressure" on the Accounting Department, GMH said. It added, however, that the probe found no evidence that the department was pressured to falsify financial information or violate generally accepted accounting principles. The REIT, which provides housing to college students and members of the U.S. military services, can be found online at http://www.gmhcommunities.com.