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07 per share, compared to $7.0 million or $0.23 per share in the comparable quarter of last year.
The company stated that its prior year quarter results included a $9.1 million pre-tax gain on sales of condominiums. On an adjusted basis, the company posted third quarter earnings of $4.
06 million or $0.13 per share, compared to $7.57 million or $0.
25 per share in the similar quarter of the prior year. Analysts surveyed by First Call/Thomson Financial expected the company to earn $0.07 per share.
For the quarter, the company's total revenues were $40.78 million, down from $59 million in the year-ago quarter. Analysts had a consensus revenue estimate of $40.
74 million for the quarter. For the fourth quarter, the company expects an adjusted loss to be in the range of $0.03 to $0.
07 per share. Analysts anticipate the company to report a loss of $0.06 per share for the quarter.
The company expects a net loss between $0.10 and $0.14 per share for the fourth quarter.
For 2006, the company anticipates adjusted earnings between $0.08 and $0.12 per share, while analysts expect a loss of $0.
01 per share. The company projects a full year net loss between $0.11 and $0.
15 per share.
