The quarterly loss was $226,000, three cents a share, on revenue of $731,000. That compared to a profit of $6.2 million, 48 cents a share, on revenue of $3 million in the 2000 fourth quarter. For 2001, Stratus reported net income of $3.9 million, 48 cents a share, on revenue of $14.8 million. For 2000, the company posted net income of $14.2 million, $1.70 per share, on revenue of $10 million. The 2000 full year and fourth quarter net income included money from a settlement for Circle C Municipal Utility District claims against the city of Austin.

The company reported it has nearly wrapped construction of its 75,000-sf 7500 Rialto building in the southwest Austin submarket. Stratus borrowed $3.5 million for construction of that building and its twin from Comerica Bank-Texas under an $18.4-million credit facility. William Armstrong, Stratus CEO, said the credit facility with Comerica provides the company with "significant flexibility to take advantage of our unique properties as the economy begins to move in a positive direction."

Stratus has begun marketing and leasing the 7500 Rialto building, one of two planned for the Rialto Drive development. In total, the 170-acre development is to include commercial and multifamily properties. Stratus has office, commercial and residential projects in the Austin, Houston and San Antonio areas.