AUSTIN, Tex. — Forestar Real Estate Group Inc. today reported a first quarter 2008 net loss of $0.2 million, or $0.01 per basic share, compared with first quarter 2007 net income of $0.6 million, or $0.02 per diluted share outstanding.

Forestar changed its reportable segments in first quarter 2008 to reflect its management of the assets and liabilities transferred from Temple-Inland Inc. Temple-Inland spun off Forestar as an independent company Dec. 28.

Forestar manages its operations through three business segments: real estate, mineral resources and fiber resources. Its real estate holdings include Towne West, a multi-use development planned along Ga. 140 just west of Adairsville.

Forestar’s real estate segment includes about 372,000 acres of land owned directly or through ventures located in 10 states and 13 markets. The mineral resources segment includes 622,000 net acres of oil and gas mineral interests located in Texas, Louisiana, Alabama and Georgia. The fiber resources segment includes the sale of wood fiber, primarily in Georgia, and manages recreational leases.

Forestar has offices in Douglasville and Cartersville.

Click to view 'Forestar first quarter 2008 earnings report'