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St. Joe revises 4Q, 2006 earnings lower


Published : Thu, 01 Mar 2007 00:07
By : Agencies
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JACKSONVILLE, Fla. (AP) - Florida real estate developer St. Joe Co. said Wednesday it revised its previously announced fourth-quarter and full-year earnings lower following a court decision.

The Feb. 26 decision related to a 1996 sales commission dispute, according to a company release.

The company said its fourth-quarter earnings were $22.3 million, or 30 cents per share. The company previously reported $23.8 million, or 32 cents per share.

Full-year earnings have been revised to $51 million, or 69 cents per share. The company previously reported income of $52.5 million, or 71 cents per share.

Shares of St. Joe Co. added 63 cents to close at $55.63 on the New York Stock Exchange.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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