Equity One Q1 FFO Down

(RTTNews) - Equity One Inc. (EQY) Wednesday reported first-quarter funds from operations of $43.3 million or $0.32, down from $44.7 million or $0.35 per share last year.

First-quarter net income dropped to $8.0 million or $0.06 per share from $26.3 million or $0.22 per share last year.

Revenues for the quarter dropped to $88.5 million from $92.7 million last year.

Analysts polled by Thomson Reuters expected the company to report FFO of $0.32 per share on revenues of $88.68 million for the quarter. Analysts' estimates typically exclude special items.

The company reaffirms full-year 2015 recurring FFO guidance of $1.28 to $1.31 per diluted share. Analysts currently estimate FFO of $1.30 per share for 2015.