In addition, revenue for the most recent quarter was $57.62 million, up from $47.59 million for the same quarter last year and net income was $720,000 for the 2002 quarter ended June 30.
Revenue for the six-month period this year was $108.23 million, compared with $83.51 million for the same period in 2002. The company experienced a $985,000 net loss for the six months ended June 30 last year.
Financial results so far in 2003 include expenses of $2.77 million and $1.63 million relating to start-up costs for the Avatar developments of Bellalago in Central Florida, Cory Lake Isles in Tampa and Ocean Palms, a 38-story oceanfront condominium project scheduled to break ground late in the third quarter in Hollywood, FL.
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