The company reported a $5-million, or 10-cents-per-share, netloss for the quarter. This compares with net income of $38.1million, or 72 per share, during the same quarter last year. Forthe year ending Dec. 31, the company reported net income of $17.7million, or 34 cents per share, versus net income of $217.4million, or $4.14 per share, net income in 2006.


"As we've been expecting for some time, the residential markethas weakened. The debt problems in the housing market have impactedthe commercial sector," said Cousins Properties chairman and CEOTom Bell, during the call. "These factors will certainly make itchallenging to pursue other developments in the future."


With the challenging economic outlook that's being predicted for2008, the company plans to focus on leasing existing projects andcompleting projects that are currently under development. "Onelarge positive from 2007 is the work our team did to manage ourcapital base, recasting our $500-million credit facility andfinancing several stabilized projects to ensure the company iswell-capitalized heading into 2008," Bell said. "Over our 50 years,Cousins has weathered many cycles and I believe we arewell-positioned to handle this one."


As of Dec. 31, the company's portfolio of operational officebuildings was 92% leased, its portfolio of operational retailcenters was 91% leased and its operational industrial building was52% leased. The company and its joint ventures had 10 retail,office and industrial projects under development and redevelopmenttotaling 5.6 million company-owned sf, and three multifamilyprojects under development containing a total of 737 units, ofwhich 280 were closed by year-end and 35 were closed inJanuary.

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