The report, released Wednesday afternoon, said St. Joe sold 58 residential units during the quarter, compared to 40 during the same time period in 2011. Also, the company’s resorts and clubs saw a 9 percent revenue increase, with St. Joe pointing to a “strong summer vacation season.”
Overall, St. Joe reported net income of $15.3 million, or 17 cents a share, during the third quarter, up from a net loss of $2.4 million, or 3 cents a share, during the period last year. Park Brady, the company’s chief executive officer, said St. Joe showed improvements in all of its lines of business. We will continue to seek market opportunities in our resort and primary home communities while also exploring longer term opportunities that take advantage of changing demographics, such as retirement communities,” he said in a news release.
Material from the News Service of Florida was used in this post.