Consolidated-Tomoka Land (CTO) Reports Q2 EPS of $0.28; Concludes Review Process, Will Continue Talks with Interested Parties
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Go back to Consolidated-Tomoka Land (CTO) Reports Q2 EPS of $0.28; Concludes Review Process, Will Continue Talks with Interested Parties
July 20, 2016 4:20 PM EDT
DAYTONA BEACH, Fla.--(BUSINESS WIRE)--
Consolidated-Tomoka Land Co. (NYSE MKT: CTO) (the Company) today
announced its operating results and earnings for the quarter and six
months ended June 30, 2016.
OPERATING RESULTS
Operating results for the quarter ended June 30, 2016 (as compared to
the same period in 2015):
Net income was $0.28 per share, an increase of $0.24 per share, or
600%;
Operating income was approximately $4.7 million, an increase of
approximately $2.5 million, or 117%;
Revenue from our Operating Segments were as follows:
Income Properties totaled approximately $6.0 million, an increase
of 46%;...
More
July 20, 2016 4:10 PM EDT
DAYTONA BEACH, Fla.--(BUSINESS WIRE)--
Consolidated-Tomoka Land Co. (NYSE MKT: CTO) (the Company) today
announced that the special committee of its independent directors (the
Special Committee), which was formed to evaluate strategic
alternatives for the Company to enhance shareholder value (the
Strategic Review), concluded its evaluation and the Companys Board of
Directors (the Board) has accepted the Committees conclusions and
recommendations. Under the supervision of the Special Committee, the
Strategic Review was deliberate and comprehensive and included the
consideration of a wide range of potential alternatives, including the
sale of the Company, the... More
