Consolidated-Tomoka Land (CTO) Reports Q2 EPS of $0.04
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Consolidated-Tomoka Land Co. Reports Second Quarter 2015 Earnings of $0.04 Per Share and Updates Guidance for Full Year 2015
July 21, 2015 5:11 PM EDTDAYTONA BEACH, Fla.--(BUSINESS WIRE)-- Consolidated-Tomoka Land Co. (NYSE MKT: CTO) (the Company) today announced its operating results and earnings for the quarter ended June 30, 2015 and updated certain elements of the Companys guidance for the fiscal year ending December 31, 2015.
OPERATING RESULTS
Operating results for the quarter ended June 30, 2015 (as compared to the same period in 2014):
Net income was $0.04 per share, a decrease of $0.09 per share; the largest factor was higher interest expense of approximately $1.1 million relating to the convertible debt issuance, including amortization of the discount, in advance of generating revenue... More