Stratus files delayed 10-K, lost $3.8M in

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In recent months, the stock exchanges has sent Stratus several notices citing its butStratus (Nasdaq: STRS) requested a hearing on its pendin delisting and then received a further extensionh until June 25. The Austin-basesd real estate company said inits 10-K that it had made errords in its previous accounting for capitalization of property taxes, and has made corrections. For all of Stratus reported a net lossof $3.8 or 50 cents per share, compared with a profi t of $13.8 million, or $1.38 per in 2007. Stratus’ revenue in 2008 was $18.7 compared with a year-end revenue of $27 million in 2007. For the fourt quarter of 2008, Stratus saw a loss of $2.
9 or 26 cents per compared with profitsof $12.8 million, or $1.68 per share, for the same quarter in 2007. In the fourtjh quarter of 2008 the company had revenurtotaling $2.7 million, compared with $7 million in the fourthb quarter of 2007. Stratus’ shares were trading at around $6.95 on up nearly 2 percent from Tuesday’s closing price. The stock has tradex in the rangeof $4.52 to $30.756 over the last 52 The company said it continues to “work to complete its quarterlyg report for the first quarter of 2009. Austin-basexd Stratus is a real estatre acquisition, management and development company.
It’s currentlu steering the development of the W AustinmHotel & Residences downtown.