St. Joe Company Improves in Latest Financial Report

2012 was a better year for the St. Joe Company.
St. Joe Co.
Earnings
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2012 $6.0 Million
2011 -$330.3 Million

Stock Earnings
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2012 $0.07 per share
2011 - $3.58 per share

St. Joe announced Thursday the company had a net profit 6-million dollars. That's a huge improvement over 2011, when the company lost a little more than 330-million.

Management attributes the profitable year to the improving real estate and tourism markets, selling 19% more timber than the year before, leasing business space to tenants in Port St. Joe and Venture Crossings at the new airport, and the sale of 32-hundrd acres of land for 18-point-3 million dollars.

St. Joe also cut operating expenses by almost 19-million dollars.