Consolidated-Tomoka Land (CTO) Reports Q2 EPS of $0.28; Concludes Review Process, Will Continue Talks with Interested Parties
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Consolidated-Tomoka Land Co. Reports Second Quarter 2016 Earnings of $0.28 Per Share
July 20, 2016 4:20 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 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%;... MoreConsolidated Tomoka Announces Conclusion of Strategic Review Process and Initiatives to Enhance Shareholder Value
July 20, 2016 4:10 PM EDTDAYTONA 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
