Tanger, President and Chief Executive Officer said "During these difficult economic times, we are fortunate that the majority of our tenants remain financially strong.  Our low occupancy cost to our tenants, and our tenant and geographic diversification should allow us to remain profitable.  In addition, our balance sheet is conservatively positioned, and our dividend is well covered by our operating cash flow." Tanger Factory was up more than 3% in after hours.

Ultra Petroleum Corp. (NYSE: UPL) said that its fourth quarter net income shrank to $65.093 million or 43 cents a share from $109.977 million or 73 cents a share in the same period, a year ago. On an adjusted basis, the company earned $66.1 million or 43 cents a share, compared to $110.0 million or 70 cents a share in the corresponding period, last year. Revenue rose to $207.396 million from $161.975 million. Consensus estimates were for earnings of 48 cents a share. For full fiscal year 2008, net income totaled $414.275 million compared to $263.036 million in 2007. Revenue surged to $1.084 billion compared to $566.638 million a year ago. "2008 proved to be another record-setting year in the history of Ultra Petroleum. I'd like to pause for a moment and savor the success we've enjoyed over the past ten years with 2008 being the 'best ever' in terms of operational and financial results. We established new production records along with new records in earnings and cash flow. Our net income margin was 37 percent, cash flow margin was 75 percent, return on capital was 29 percent, and return on equity was 42 percent," commented Michael D. Watford, Chairman, President and Chief Executive Officer. "We have a world-class asset operated at a very low cost, which provides us with a competitive advantage in the consistency of our growth and returns and its sustainability," Watford added. Ultra Petroleum fell 2.81% in evening trade.

Disclosure: Author does not own any of the stocks discussed here.