Third-quarter funds from operations fell 25% to $29 million from$38.6 million last year, or to 34 cents a share from 46 cents ashare.
Excluding costs of fending off the unsolicited Simon/Westfieldbuyout bid, the company reported FFO of 41 cents a share. Analystssurveyed by Thomson First Call expected the company to earn 39cents a share. Revenue increased 1.5% to $168.4 million from $166million.
In 2003, Taubman Centers expects earnings of 24 cents to 45cents a share, with FFO, excluding takeover-defense costs, at theupper end of its prior estimate of $1.80 to $1.84 a share.Including costs, the company expects FFO of $1.50 to $1.54 ashare.
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