BFC Financial Corporation Reports Financial Results for the Fourth Quarter and Full Year, 2013
March 17 2014 - 5:41PM
Marketwired
BFC Financial Corporation Reports Financial Results for the Fourth
Quarter and Full Year, 2013
FORT LAUDERDALE,
FL--(Marketwired - March 17, 2014) - BFC
Financial Corporation ("BFC" or the "Company") (OTCQB: BFCF) reported financial results for the
fourth quarter and full year ended December 31, 2013.
Full Year 2013
The Company reported net income attributable to BFC of $29.1
million, or $0.35 per diluted share, for the year ended December
31, 2013, compared to a net income attributable to BFC of $166.0
million, or $2.09 per diluted share, for the year ended December
31, 2012. Net income attributable to BFC for the year ended
December 31, 2012 includes a $141.5 million gain from discontinued
operations related to the sale of BankAtlantic by BBX Capital
Corporation ("BBX Capital") (NYSE:
BBX) during July 2012.
Fourth Quarter
2013 The Company reported net income attributable to BFC of
$23.7 million, or $0.28 per diluted share, for the quarter ended
December 31, 2013, compared to a net loss attributable to BFC of
$(15.1) million, or $(0.19) per diluted share, for the quarter
ended December 31, 2012.
As of December 31, 2013, BFC had consolidated total assets of
$1.4 billion, total equity of $422.4 million, and its book value
per share was $2.88.
Net income (loss) attributable to BFC is defined as net income
(loss) after non-controlling interests. Under generally
accepted accounting principles, the financial statements of the
companies in which BFC holds a controlling interest, including BBX
Capital and Bluegreen Corporation, are consolidated in the
Company's financial statements. At December 31, 2013, BFC had
an approximate 52% economic ownership interest in BBX Capital and
an approximate 54% economic ownership interest in Woodbridge
Holdings, LLC which owns 100% of Bluegreen Corporation and its
subsidiaries.
More complete information relating to BFC and its financial
results is contained in the Company's Annual Report on Form 10-K
for the year ended December 31, 2013, which was filed with the SEC
on March 17, 2014 and is available to view on the SEC's website,
www.sec.gov, or on BFC's website, www.BFCFinancial.com.
About BFC Financial
Corporation: BFC (OTCQB:
BFCF) is a holding company whose principal holdings include
controlling interests in BBX Capital Corporation (NYSE: BBX) and Bluegreen Corporation.
As of December 31, 2013, BFC had total consolidated assets of
approximately $1.4 billion, shareholders' equity attributable to
BFC of approximately $239.4 million, and total consolidated equity
of approximately $422.4 million. For more information, visit
www.BFCFinancial.com.
About BBX Capital
Corporation: BBX Capital, a New York Stock Exchange
listed company (NYSE: BBX), is
involved in the acquisition, ownership and management of, and joint
ventures and investments in real estate and real estate development
projects as well as investments and management of middle market
operating businesses. In addition, BBX Capital and its holding
company, BFC Financial Corporation, have a 46% and 54% respective
interest in Bluegreen Corporation; a vacation ownership company
with more than 60 owned or managed resorts, 225,000 owners and
5,000 employees.
As of December 31, 2013, BBX Capital had consolidated total
assets of $431.1 million, shareholders' equity of $302.4 million,
and its book value per share was $19.00.
For more information, visit www.BBXCapital.com.
For further information,
please visit our family of companies: BFC Financial:
www.BFCFinancial.com Bluegreen Corp.: www.Bluegreen.com BBX
Capital: www.BBXCapital.com
- Renin Corp.: www.ReninCorp.com
- Hoffman's Chocolates: www.Hoffmans.com, www.BocaBons.com, and
www.GoodFortunes.com
- Williams & Bennett: www.WilliamsandBennett.com
BFC Contact Info:
Investor Relations:Leo Hinkley, Managing Director, Investor
Relations Officer954-940-4994 Email:
InvestorRelations@BFCFinancial.com
BBX Capital (NYSE:BBX)
Historical Stock Chart
From Mar 2024 to Apr 2024
BBX Capital (NYSE:BBX)
Historical Stock Chart
From Apr 2023 to Apr 2024