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Mission West Properties Q1 FFO Rises

Mission West Properties Inc. (MSW: Quote) Wednesday reported first-quarter funds from operations of about $14.1 million or $0.13 per share, as compared to $16.2 million or $0.15 per share in the same period last year.

The company said funds from operations declined due mainly to lower revenues. Total operating revenues dropped to $24.2 million from $27.3 million last year.

Net income available to common shareholders improved to $2.8 million or $0.12 per share from $2.4 million $0.11 in the prior-year quarter.

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by RTT Staff Writer

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