(RTTNews) -  Tanger Factory Outlet Centers, Inc. (SKT: News ) announced that its third-quarter net income available to common shareholders was $2.3 million or $0.06 per share, compared to $8.1 million, or $0.26 per share for the third quarter of 2008.

Funds from operations available to common shareholders for the quarter was $24.0 million or $0.54 per share, compared to $25.4 million or $0.67 per share in the year ago quarter.

Revenues for the quarter were $70.32 million, compared to $62.77 million in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.40 per share on revenues of $64.71 million for the quarter. Analysts' estimates typically exclude special items.

The company currently believes its net income available to common shareholders for 2009 will be between $1.39 and $1.45 per share and its FFO available to common shareholders for 2009 will be between $2.62 and $2.68 per share. This represents an increase of approximately 7% from the company's previous FFO guidance. Analysts expect the company to report earnings of $2.50 per share for fiscal 2009.

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by RTT Staff Writer

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