ORLANDO-St. Joe Co., the largest publicly traded real estate company in Florida, posted second-quarter earnings before interest, taxes, depreciation and amortization of $34.5 million or 41 cents per diluted share versus $48.3 million or 57 cents per diluted share in the same 2001 period.

Excluding conservation land gains, EBITDA was $33.4 million or 40 cents per diluted share compared with $38.4 million or 45 cents per share last year.

Conservation land sales produced EBITDA of $1.1 million versus $9.9 million previously. Arvida Realty Services, which produced EBITDA of $9.4 million in last year’s second quarter, was sold April 17 of this year for $170 million cash to NRT Inc., a subsidiary of New York-based Cendant Corp.

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