Taubman Centers, Inc. announced consolidated and unconsolidated earnings results for the first quarter ended March 31, 2013. For the quarter, on consolidated basis, the company reported total revenues of $183,257,000 compared to $169,264,000 a year ago. Net income was $46,356,000 compared to $32,177,000 a year ago. Net income attributable to the company common shareowners was $27,744,000 compared to $17,531,000 a year ago. EBITDA was $108,512,000 compared to $94,451,000 a year ago. Funds from operations contribution was $64,858,000 compared to $48,140,000 a year ago. Diluted EPS attributable to common shareowners was $0.43 compared to $0.30 a year ago. Funds from operations was $81,513,000 or $0.90 per share compared to $65,152,000 or $0.75 per share a year ago. Funds from operations attributable to the company excluding additional income tax expense was $58,238,000 or $0.90 per share compared to $44,790,000 or $0.75 per share a year ago. Funds from operations attributable to the company was $58,205,000 or $0.90 per share compared to $44,790,000 or $0.75 per share a year ago. For the quarter, on unconsolidated basis, the company reported total revenues of $67,551,000 compared to $65,310,000 a year ago. EBITDA was $46,245,000 compared to $45,587,000 a year ago. Funds from operations contribution was $16,655,000 compared to $17,012,000 a year ago. The company is adjusting its guidance for 2013 FFO per diluted share to the range of $3.57 to $3.67 from the previous range of $3.57 to $3.70. The change includes the negative 6.5 cent impact of the company's March 2013 Series K Preferred Stock offering. This guidance assumes comparable center NOI growth, excluding lease cancellation income, of at least 3% for the year. 2013 EPS is expected to be in the range of $1.67 to $1.82.

Taubman Centers, Inc.(NYSE:TCO.PRK) added to S&P Preferred Stock Index

Taubman Centers, Inc. announced that David S. Joseph II, age 42, will join the company as senior vice president, leasing, effective the end of April. David will take over leasing responsibilities from William S. (Bill) Taubman, who has been acting head of leasing since July, 2012. Bill will continue in his role as chief operating officer of the company in charge of development, leasing and center operations. David comes to Taubman after 12 years at Walton Street Capital, where most recently as principal, he was responsible for identifying retail acquisitions and the overall strategic management of Walton's retail properties.