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Stratus (Nasdaq: STRS) reported a $300,000 loss for the quarterf compared with earningsof $1.2 million in the thircd quarter of 2006. Those result s came on revenueof $8 millionm for the just completed quarter, down from $9 million a year ago. For the nine monthzs ending September 30, Stratus loggedr a profit of just $600,000, or 8 cents a compared with earningsof $37.1 million, or $4.85r a share during the same perios last year. Shares of Stratus were down $3.11, or 9 to $31.09 in late trading today. In October, Stratuss completed the $46.5 million sale of the Escarpment Village shoppin g center in Southwest Austin to Inc. of Michigan.
Earlier this year the compangy announced plans to sell its two officew buildings at 7500 Rialto Boulevard but opted to halt marketingb of that property in the third quarter in lightt of changes in thecrediyt markets. In May Stratus announced its partnershipwith Canyon-Johnsonb Urban Fund II LP on the $250 million Block 21 development. The 35-stort high-rise will include a W hotel, condo units, retailo space and a new home for Austimn CityLimits studio.
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