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JACKSONVILLE, FL-Like others in the residential real estatemarket, the locally based St. Joe Co. faced challenges in the pastyear, said company officials during a Q4 earnings call Tuesday.
The company reported net income of $23.8 million, or 32 centsper share, for the fourth quarter. This compares with $37.2million, or 49 cents per share, for Q4 2005. Net income for thefull year 2006 was $52.5 million, or 71 cents per share, comparedwith $126.6 million, or $1.66 per share, in 2005. Included in thefull-year results are charges of $13.4 million pretax, or 11 centsper share after tax related to the company's exit from thehomebuilding business in Florida and the corporate reorganizationannounced last August.
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