09:48 AM EST - Brookfield Properties Corp. : reported first-quarter net income of $38 million U.S. or $0.10 U.S. per share, compared to $23 million U.S. or $0.06 U.S. per share in the same period in 2008. Net income from continuing operations was $35 million U.S. or $0.09 U.S. per share, compared to $22 million U.S. or $0.06 U.S.per share in the same quarter a year earlier. On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.35 U.S. per share. Analysts' estimates typically exclude special items. Funds from operations were $127 million U.S., compared with $126 million U.S. in the same period in 2008. Funds from operations per share were $0.32 U.S., same as a year ago. Total revenue declined to $592 million U.S. from $651 million U.S. in the prior year. Two analysts had a consensus revenue estimate of $532.86 million U.S. Brookfield Properties Corp.
shares T.BPO are trading up $0.18 at $9.05.
