DDR Q3 FFO Rises

(RTTNews) - DDR Corp. (DDR) reported net income for the third quarter of $63.0 million or $0.17 per share, compared to net loss of $7.0 million or $0.02 per share for the year-ago quarter.

Funds from operations for the third quarter was $110.8 million or $0.31 per share, compared to $89.9 million or $0.28 per share in the prior year quarter.

Third quarter operating funds from operations was $106.2 million or $0.29 per share, compared to $90.0 million or $0.28 per share in the third quarter of last year.

Revenue for the third quarter rose to $242.95 million from $196.12 million a year ago.

Analysts polled by Thomson Reuters expected the company to report FFO of $0.30 per share on revenue of $248.36 million for the third quarter. Analysts' estimates typically exclude special items.

The company narrowed its 2014 Operating FFO guidance to a range between $1.15 to $1.17 per share from its prior guidance of $1.14 to $1.18 per share. Analysts currently expect the company to report FFO of $1.16 per share for the full year 2014.