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FORT LAUDERDALE, FL-After delaying its earnings report twice,locally based Levitt Corp. reported precipitous slides in bothrevenue and net income for fourth-quarter 2005, a mere 1% increasein full-year revenue and a 4% decrease in full-year net income. Thedelays in reporting were attributed to a required restatement offinancials for Bluegreen Corp. of which Levitt has 30%ownership.

A 41% decline in home deliveries in fourth-quarter 2005 was theprincipal culprit of revenue declines for the quarter, chairman andCEO Alan B. Levan said during a conference call. The companydelivered 401 homes during the most recent quarter, compared with675 during the same quarter a year ago. As a result, fourth-quarter2005 revenues were $124.5 million, down 30% from $177 million inthe same quarter the year before, and net income was $8.3 million,down 51% from $17 million in the final quarter of 2004.