ATLANTIC GULF COMMUNITIES REPORTS 1994 RESULTS.MIAMI--(BUSINESS WIRE)--March 22, 1995--Atlantic Gulf Communities Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AGLF AGLF Association for Governmental Leasing and Finance AGLF Asian Government Leaders Forum ) today announced results for the year ended December December: see month. 31, 1994. For the year ended December 31, 1994, Atlantic Gulf Communities had net income of $1.1 million ($.11 per share) on revenues of $106 million, as opposed to a loss of $18.5 million ($1.91 per share) on revenues of $70.6 million for the year ended December 31, 1993. Revenues and net income for 1994 included a gain of $34.2 million from the settlement of condemnation Condemnation bell, book, and candle symbols of Catholic excommunication rite. [Christianity: Brewer Note-Book, 85] Bridge of Sighs passage from Doge’s court to execution chamber in Renaissance Venice. [Ital. Hist. proceedings with respect to a water treatment facility. In the fourth quarter of 1994, Atlantic Gulf Communities had net income of $26.7 million ($2.75 per share) on revenues of $63.4 million. Revenues and net income for the fourth quarter included the gain of $34.2 million from the settlement of the condemnation proceedings. This compares to a loss of $7.7 million ($.80 per share) on revenues of $21.7 million in the fourth quarter of 1993. During 1994, consistent with its business plan, Atlantic Gulf Communities concentrated on efforts to monetize Monetize 1. To convert into money. 2. To convert from securities into currency that can be used to purchase goods and services. Notes: For example, you'll often hear Internet marketers talk about "monetizing website visitors. its historical real estate assets as rapidly as market conditions permitted and to enter into new real estate development opportunities which management believes will offer a higher risk-adjusted rate of return. Atlantic Gulf Communities also continued to seek to modify the Company's capital structure to lower debt, reduce financing costs and improve financial flexibility. At a board of directors meeting held on March 20, 1995, Mr. G. Robert Durham resigned as a director in order to devote more time to Walter Industries of which he serves as chief executive officer. Mr. Allen Al·len , Edgar 1892-1943. American anatomist who is noted for his studies of hormones and for the discovery (1923) of estrogen. A. Blase bla·sé adj. 1. Uninterested because of frequent exposure or indulgence. 2. Unconcerned; nonchalant: had a blasé attitude about housecleaning. 3. Very sophisticated. , a financial advisor with Florida real estate development experience, was appointed to fill the remainder of his term expiring ex·pire v. ex·pired, ex·pir·ing, ex·pires v.intr. 1. To come to an end; terminate: My membership in the club has expired. 2. in 1996. Atlantic Gulf Communities Corporation is a publicly-traded real estate development and management company with total assets over $348 million. Atlantic Gulf Communities is one of the largest Florida-based real estate developers, owning over 60,000 acres in Florida and another 5,500 acres in the Cumberland mountains of Tennessee Tennessee, state, United States Tennessee (tĕn`əsē', tĕn'əsē`), state in the south-central United States. . Miami-headquartered, the Atlantic Gulf Communities is known as a proven leader in professional development services, particularly for its leadership role in environmental quality. -0-
ATLANTIC GULF COMMUNITIES CORPORATION
RESULTS OF OPERATIONS
FOR THE PERIODS ENDED DECEMBER 31, 1994
(In Millions, Except Per Share Data)
For The Three Months Ended December 31,
1994 1993
(Unaudited) (Unaudited)
Revenue $ 63.4 $ 21.7 Net Income (Loss) $ 26.7 $ (7.7) Net Income (Loss) per share $ 2.75 $ (.80) Weighted Average Common Shares Outstanding 9.64 9.68
For The Twelve Months Ended December 31,
1994 1993
(Audited) (Audited)
Revenue $ 106.0 $ 70.6 Net Income (Loss) $ 1.1 $ (18.5) Net Income (Loss) per share $ .11 $ (1.91) Weighted Average Common Shares Outstanding 9.64 9.68 -0- CONTACT: Atlantic Gulf Communities Corporation, Miami Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs W. Jeffrey, 305/859-4398 or Investor Access Corporation, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Kevin Theiss, 212/692-9060 |
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