DDR reported its first-quarter funds from operations at $110.2 million, or 83 cents a share, lower than the 85-cent mean estimate of analysts surveyed by Thomson Reuters. This compared with an FFO of $120 million, or 91 cents a share during the same period last year. Net income in the period ended March 31 fell to $43.4 million, or 28 cents a share, from $62.5 million or 42 cents a share, last year. A weak real estate market following the subprime crises led to these weaker results.
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