DALLAS (AP) — DALLAS (AP) — American Realty Investors Inc. (ARL) on Thursday reported fourth-quarter net income of $9.8 million, after reporting a loss in the same period a year earlier.
The Dallas-based company said it had profit of 60 cents per share. Losses, adjusted for non-recurring gains, were 10 cents per share.
The real estate investment company posted revenue of $13 million in the period.
For the year, the company reported net income of $15.7 million, or 97 cents per share, swinging to a profit in the period. Revenue was reported as $50 million.
ARL shares have risen almost 2% since the beginning of the year. The stock has increased 17% in the last 12 months.
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