For the quarter, the REIT posted total revenue of $24 million, up 31.8%; net income of $8.4 million, up 123.5%; 25 cents net income per diluted share, up 31.6%; funds from operations of $11.1 million, up 73.2%; and 33 cents FFO per diluted share, up 6.5% over the same 2001 period.

For the half, Equity One booked revenue of $49.9 million, up 34.8%; net income of $21.7 million, up 178.3%; 68 cents net income per diluted share, up 74.4%; funds from operations of $21.9 million, up 64%; and 68 cents FFO per diluted share, up 4.6% from the first six months of last year.

The REIT spent $50 million to buy five supermarket-anchored centers at an aggregate yield of 10% and also purchased one retail development site. Equity One also bought Centrefund Realty (U.S.) Corp. and United Investors Realty Trust in the second quarter.