ARLINGTON, Texas (AP) _ Forestar Group Inc. (FOR) on Tuesday reported fiscal third-quarter profit of $15.8 million.

The Arlington, Texas-based company said it had net income of 32 cents per share. Earnings, adjusted to extinguish debt, were 61 cents per share.

The real estate and natural resources developer posted revenue of $312.9 million in the period.

Forestar Group shares have dropped 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $19.53, an increase of 21% in the last 12 months.

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