SAN FRANCISCO-Digital Realty Trust, reporting strong first-quarter financial results in its first-quarter conference call and SEC filings, sees a continued demand for the company's data center space, including turnkey and build-to-suit projects. The company's CEO, Michael F. Foust, said during the conference call that company was under way on a number of construction projects in high-demand markets in the US and Europe at the end of the first quarter that will add more than 185,000 square feet of turnkey space this year. It has signed leases for approximately 58% of that space.

The company is also in discussions with prospects for more than one million square feet of space, and "demand for our turnkey product is strong," Foust said. He noted that, during the first quarter, the company announced plans to build the next phase of turnkey centers in its top markets.

Digital Realty's first-quarter results included FFO of $84.4 million and 81 cents per diluted share and unit, up 2.5% from 79 cents per diluted share and unit in the previous quarter and up 15.7% from 70 cents per diluted share and unit in the first quarter of 2009. It reported net income of $25.6 million for the quarter, up 2.8% from $24.9 million in the fourth quarter of 2009 and up 20.8% from $21.2 million in the first quarter of 2009. Net income available to common stockholders in the first quarter was $14.7 million, or 18 cents per diluted share, compared to $14.3 million and 18 cents per diluted share in the fourth quarter of 2009, and up from $10.3 million, or 14 cents per diluted share, in the first quarter of 2009. The company reported total operating revenues of $191.8 million in the first quarter, up 13% from $169.8 million in the fourth quarter of 2009 and up 28.6% from $149.1 million in the first quarter of 2009.

As previously reported on GlobeSt.com, the company commenced leases totaling approximately 116,000 square feet of space in the first quarter. In addition, it signed leases during the first quarter totaling approximately 241,000 square feet.