Equity One, Inc. (EQY) reported that its first-quarter Funds From Operations or FFO was $31.9 million or $0.31 per share, up from $33.2 million or $0.27 per share in the prior year quarter.
Recurring FFO was $40.9 million or $0.32 per share, compared to $34.1 million or $0.28 per share a year earlier.
Net income attributable to Equity One was $24.9 million or $0.21 per share, compared to $18.5 million or $0.16 per share in the previous year quarter.
Net income for the recent quarter included gains on the sale of income producing non-core properties of $11.2 million.
Meanwhile, total revenue for the quarter rose to $86.44 million from $76.59 million in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share on revenues of $85.84 million for the quarter. Analysts' estimates typically exclude special items.
The company updated its guidance for 2013, estimating that Recurring FFO per share will be $1.19 to $1.23 per share, while anticipating FFO per share in a arange between $1.15 and $1.19. Also, the company expects to record net income between $0.38 and $0.40 per share for 2013. Analysts currently expect the company to report earnings of $1.19 per share for fiscal 2013.
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