LNR Property Revises 2001 Earnings Forecast Upwards on Strength of Final Fiscal Numbers

MIAMI-LNR Property Inc. revised its internal 2001 earnings forecast on the report the real estate investment, finance and management company posted a record increase in earnings per share for the year ended Nov. 30.

The $3.32 per share earnings the company reported late Tuesday surpassed internal forecasts by two to seven cents and exceeded an independent analyst’s expectations by two cents. LNR now projects earnings per share in 2001 to be in the $3.70 to $3.85 range.

“Our management team continues to have tremendous success growing our recurring income streams, adding value to our real estate investments and harvesting that value at the right opportunity,” Steven J. Saiontz, LNR Property chief executive officer, says in a prepared statement. “As a result, we have been able to achieve a compound net earnings annual growth rate of over 39% since 1992.”