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ATLANTA-Post Properties Inc. net income and funds from operations both declined in the second quarter compared to a year ago, the company reports.

Net income totaled $12.1 million or 28 cents per diluted share versus $56.5 million or $1.42 in the same 2005 period. FFO totaled $22.1 million, the same as a year ago. On a per-share basis, FFO totaled 52 cents in the quarter compared to 52 cents in the same 2005 period.

For the six-month period ended June 30, net income totaled $15 million or 35 cents period compared to $59.3 million or $1.48 per diluted share in the first half of 2005. FFO totaled $42.1 million or 96 cents per share for in the first half of this year versus $44.1 million or $1.03 per share last year.