The St. Joe Company Reports Full Year 2005 Net Income of $1.66 Per Share, Including $0.08 Per Share Charge for Sale of Advantis, a Per-Share Increase of 42 Percent
biz.yahoo.com
Wednesday February 8, 7:09 am ET
JACKSONVILLE, Fla.--(BUSINESS WIRE)--Feb. 8, 2006--The St. Joe Company (NYSE:JOE):
Fourth Quarter Net Income was $37.2 Million, or $0.49 Per Share,
A Per-Share Increase of 32 Percent
JOE Sets Full-Year 2006 Guidance at $1.70 to $2.15 Per Share
JOE Residential Land-Use Entitlements in Hand or in Process Increase
21 Percent from the Third Quarter to Approximately 41,700 Units
The St. Joe Company (NYSE:JOE - News) today announced that its Net Income for the full year 2005 was $126.6 million, or $1.66 per share, compared with $90.1 million, or $1.17 per share, for the full year 2004, a per-share increase of 42 percent. Results for the year include an after-tax charge of $5.9 million, or $0.08 per share, resulting from the sale of JOE's subsidiary, Advantis Real Estate Services Company. All per share references in this release are presented on a fully diluted basis.
Fourth quarter 2005 Net Income was $37.2 million, or $0.49 per share, compared with $28.1 million, or $0.37 per share, for the fourth quarter of 2004, a per-share increase of 32 percent.
JOE Pleased With Progress, Results in 2005
"We are pleased with our 2005 performance, especially considering the challenges we faced in the third and fourth quarters," said JOE chairman and CEO Peter S. Rummell. "JOE's increasing product diversity, expanding pipeline of land-use entitlements, low-basis land holdings and strong balance sheet are allowing us to respond in an ever-changing marketplace. Our entitlements strategy over the past several years has provided JOE the ability to develop a growing menu of real estate products that is expanding our reach to broader market segments. Product diversity is becoming one of JOE's primary competitive advantages." |
