(Reuters) - Overall profit nearly doubled, helped by a $84.2 million gain from a recent board decision to drop its tax-friendly real estate investment trust status on Jan. 1, 2008.
Net income for Kansas City, Missouri-based NovaStar rose 98 percent to $44.4 million, or $1.18 per share, from $22.4 million, or 69 cents, a year earlier.
Read more at Reuters.com Mergers News
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