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Forestar Group posts 4Q profit

AUSTIN, Texas (AP) _ Forestar Group Inc. (FOR) on Wednesday reported fourth-quarter net income of $43.7 million, after reporting a loss in the same period a year earlier.

The Austin, Texas-based company said it had net income of $1.03 per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to 27 cents per share.

The real estate and natural resources developer posted revenue of $64.5 million in the period.

For the year, the company reported net income of $58.6 million, or $1.38 per share, swinging to a profit in the period. Revenue was reported as $197.3 million.

Forestar Group shares have increased slightly since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.35, an increase of 33 percent 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 FOR at https://www.zacks.com/ap/FOR


Keywords: Forestar Group, Earnings Report