Newspaper article The Florida Times Union

Morning Briefs

Newspaper article The Florida Times Union

Morning Briefs

Article excerpt

REGENCY EARNINGS UP, GUIDANCE ALSO INCREASED

Regency Centers Corp. Wednesday reported third-quarter earnings of $39.4 million, or 57 cents per diluted share, up from $27.6 million, or 41 cents a share, last year. Funds from operations for the quarter were $69.5 million, or $1 a share, up from $54.2 million, or 80 cents a share, the previous year.

Funds from operations measure earnings excluding depreciation and amortization expenses and are considered a key indicator of a real estate company's performance.

Regency, a Jacksonville-based shopping center developer, owned 399 retail properties totaling 53 million square feet of space as of Sept. 30, including those held in joint ventures, and said its operating properties were 95.2 percent leased.

Regency also Wednesday slightly increased its earnings guidance for all of 2006, saying it expects to report funds from operations of $3.83 to $3.88 a share. It also said it expects funds from operations of $4.10 to $4.20 a share in 2007.

Mark Basch/The Times-Union

TRAILER BRIDGE NAMED FREIGHT CARRIER FOR ARMY

Jacksonville-based Trailer Bridge Inc. said Wednesday that it was named the low cost carrier by the Department of the Army's Military Traffic Management Command for freight moving between the U.S. mainland and Puerto Rico. Trailer Bridge will begin moving freight for the military on Dec. 1 under a one-year contract, with two further one-year options exercisable by the military. The company said based on historical volumes, it expects to add $3 million in annual revenue from the contract.

Mark Basch/The Times-Union

STAFFING FIRM CSI TO OPEN IN NASHVILLE AND ATLANTA

The CSI Cos. will open offices in Atlanta and Nashville later this year.

The staffing firm supplies full-time and contract workers to the accounting, mortgage banking, insurance and retail industries. …

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