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Stratus Properties Slips To Loss In Q4

Stratus Properties Inc. (STRS: Quote) reported a fourth-quarter net loss attributable to common stock of $4.3 million, $0.57 per share, compared to net income of $0.4 million, $0.06 per share, for fourth-quarter 2010. Total cost of sales increased to $30.63 million from $1.75 million in the same quarter last year.

Revenues for the quarter jumped to $28.57 million from $1.92 million in the prior year quarter.

For the year 2011, Stratus reported a net loss attributable to common stock of $10.4 million, $1.39 per share, compared with a net loss of $15.3 million, $2.05 per share, for the year 2010. The loss for the year 2010 includes a charge of $10.5 million, $1.41 per share, to establish valuation allowances against net deferred tax assets. Total cost of sales increased to $128.70 million from $9.53 million in the prior year.

Revenues for the year surged to $137.04 million from $5.66 million last year.

by RTT Staff Writer

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