Forestar Group Inc. Reports Second Quarter 2012 Results

AUSTIN, Texas--(BUSINESS WIRE)--Forestar Group Inc. (NYSE: FOR) today reported second quarter 2012 net income of approximately $0.8 million, or $0.02 per diluted share, compared with a second quarter 2011 net loss of approximately ($3.9) million, or ($0.11) per share outstanding. Second quarter 2012 results include after-tax expenses of approximately $1.6 million, or $0.05 per share, associated with the proposed acquisition of CREDO Petroleum Corporation. Second quarter 2011 results included after-tax expenses of approximately $1.8 million, or $0.05 per share paid to outside advisors related to private debt offerings which were withdrawn due to the deterioration in terms available to us in the capital markets.