Americana Hotels and Realty announces first quarter financial results and report on results of 1997 Annual Stockholders Meeting.BOSTON--(BUSINESS WIRE)--May 20, 1997--Americana Hotels and Realty Corp. (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 : AHTC AHTC Akademischer Hockey Und Tennis Club ) today announced earnings of $159,000 or $.02 per share for the first quarter ended March 31, 1997, compared to earnings of $162,000 or $.02 per share for the first quarter of 1996. The corporation also announced that at the Annual Meeting of Stockholders, the stockholders re-elected four directors and ratified the appointment of its independent certified public accountants Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. , KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen Peat Marwick. The four directors re-elected are George H. Bigelow, John Bigelow, John (bĭg`əlō), 1817–1911, American editor, author, and diplomat, b. Malden, N.Y. In 1838 he was admitted to the New York bar. A. Cervieri, Jr., William A. Kaynor and John F. Sexton. At the meeting, Bigelow, president of the corporation, also reviewed financial results for the year and the first quarter and the status of the corporation's only remaining real estate asset in Palm Springs, as well as other issues relating to the completion of the Plan of Liquidation. -0-
Financial Results
Quarter Ended March 31st
1997 1996
Revenues $ 23,000 $ 447,000
Expenses 163,000 285,000
Net Earnings 159,000 162,000
Average Shares Outstanding 6,524,375 6,524,375
-0- Americana Hotels and Realty Corp. is a real estate investment trust which is currently operating under a Plan of Liquidation approved by stockholders in June of 1998. Its shares are listed on the over-the-counter market over-the-counter market Trading in stocks and bonds that does not take place on stock exchanges. Such trading occurs most often in the U.S., where requirements for listing stocks on the exchanges are strict. . CONTACT: Americana Hotels and Realty Corp. Sharon A. Zuk, 617/247-3358 |
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