The company reported its earnings increased to $835,000, or eight cents per diluted share, compared to $640,000, or seven cents per share, for the third quarter of 2001. Revenue rose to $15.579 million for the quarter, up from $14.780 in the third quarter of last year.
The company reported that in the third quarter it completed a previously announced secondary public stock offering and the private sale of 2,000 shares of the stock of its Japanese subsidiary, recording a gain of $4.1 million on the transaction and retaining ownership of 37% of the subsidiary's shares.
Kennedy Wilson is a real estate investment fund management and real estate services firm with offices throughout the United States and Japan. Its activities include investment banking, financing, investment sales, brokerage, asset management, property management, acquisition and development.
The company issued its earnings announcement after the close of trading Thursday. Its shares stood at $3.36 in noontime trading Friday, down 24 cents for the day and well below the stock's 52-week high of $6.33, achieved in May.
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