TARR: Tarragon Realty Investors Message Board

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Strategies & Market Trends : TARR: Tarragon Realty Investors

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From: JakeStraw	11/9/2005 9:44:44 AM
	of 29

Tarragon lifts 2005 profit view after strong third quarter By Mark Cotton NEW YORK (MarketWatch) -- Tarragon Corp. (TARR) lifted its 2005 earnings estimates Wednesday after the homebuilder posted a sharp year-over-year rise in quarterly profit. The New York company reported third-quarter net income of $50.5 million, or $1.70 a share, up from $3.9 million, or 14 cents a share in the year-ago period. Earnings from continuing operations came in at $1.01 a share. Revenue for the quarter shot up to $260 million from $71.5 million. Based on the strength of its third-quarter results and its current contract backlog, the company now expects income from continuing operations of $73 million to $78 million, or $2.27 to $2.42 a share versus a prior estimate of $2.17 to $2.32 a share. Tarragon anticipates 2006 income from continuing operations of at least $4 per share on revenue in excess of $1 billion.

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