Boston Properties Inc. (BXP) reported that its third-quarter Funds from Operations attributable to the company or FFO were $176.1 million or $1.16 per share, compared to $190.3 million or $1.28 per share in the same quarter last year.
The results for the latest-quarter were impacted by $0.03 per share of losses on early extinguishments of debt and additional interest expense of $0.06 per share.
Net income available to common shareholders was $57.8 million, compared to $70.5 million last year. Net income for the quarter was $0.38 compared to $0.48 last year.
Total revenues for the quarter rose to $470.90 million from $449.70 million in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.16 per share on revenues of $449.44 million for the quarter. Analysts' estimates typically exclude special items.
For the fourth-quarter 2012, the company expects earnings per share to be in the range of $0.42 - $0.44, and FFO of $1.22 - $1.24. Analysts expect the company to report earnings of $1.25 per share for the fourth-quarter.
Looking ahead for fiscal 2013, the company expects earnings to be in the range of $1.75 - $1.90 per share, and FFO of $5.00 - $5.15 per share. Analysts expect the company to report earnings of $5.28 per share for fiscal 2013.
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