GREENSBORO, N.C. (AP) _ Tanger Factory Outlet Centers Inc. (SKT) on Wednesday reported a key measure of profitability in its second quarter.

The Greensboro, North Carolina-based real estate investment trust said it had funds from operations of $10 million, or 10 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $22.9 million, or 25 cents per share.

The factory outlet mall operator posted revenue of $64 million in the period. Its adjusted revenue was $62.3 million.

The company's shares have fallen 56% since the beginning of the year. The stock has fallen 58% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SKT at https://www.zacks.com/ap/SKT

Automated Insights, source Associated Press News