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JACKSONVILLE, FL-With fundamentals in most retail categories showing continued strength, locally based Regency Centers Corp. reported strong financial results for the second quarter, during a Thursday conference call. “The fundamentals of all aspects of retail continue to be remarkably strong,” said Regency managing director and CFO Bruce Johnson during the call.

Regency reported funds from operations for Q2 was $65.8 million, or 94 cents per diluted share, compared to $64.6 million, or 93 cents per share, for Q2 2006. For the six months ended June 30, the company reported FFO of $144.9 million, or $2.07 per share, versus $123.4 million, or $1.78 per share, for the same period last year.

Net income for Q2 was $44.4 million, or 64 cents per diluted share, compared to $32.1 million, or 47 cents per diluted share, for the same period a year ago. Net income for the first six months of 2007 was $96.4 million, or $1.39 per share, versus $98 million, or $1.43 per share for the first half of 2006.

For the quarter, Regency experienced same store net operating income growth of 4.5% with rental rate growth on a cash basis of 14.4%. For the first six months of 2007, the company experienced same store net operating income growth of 3.2% with rental rate growth on a cash basis of 13.9%.

Despite a dip in some retail categories due to the declining residential market, such as furniture and home décor, the retail market showed continued strength during the quarter. “The numbers for every retail category, except for department stores, were positive,” said Regency president and COO Mary Lou Fiala, during the call.

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