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Levitt Corp. Sees Rise in Net Income

FORT LAUDERDALE, FL-Net income increased 15% for the fourth quarter and 37% for the year, compared with the same periods in 2002. Revenue also was up for both periods in 2003.

By Melissa Bogdany | Updated on January 26, 2004

FORT LAUDERDALE, FL-Locally based Levitt Corp.’s net income for the fourth quarter of 2003 was up 15% and its net income for the full year was up 37%, compared with a year earlier. Net income for the fourth quarter was $9.5 million, up from $8.3 million for the same period in 2002. Net income for 2003 was $26.8 million, up from $19.5 million the year before.

Diluted earnings per share for the quarter increased 15% to 63 cents from 55 cents in the 2002 quarter. Earnings per share climbed 36% to $1.77 last year, compared with $1.30 in 2002. In addition, 2003 revenue increased 36% to $285.5 million, compared with $209.4 million in 2002. Fourth-quarter revenue grew 20% to $99 million, compared with $82.7 million in the 2002 fourth quarter.

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