Americana Hotels and Realty announces third quarter results.BOSTON--(BUSINESS WIRE)--Nov. 19, 1996--Americana Hotels and Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Corp. (NYSE-AHR) today announced a third quarter loss of $(137,000) or $(.02) per share, compared to net earnings of $228,000 or $.04 per share in 1995. Results for the first nine months of 1996 were a loss of $(31,000) or $(.01) per share compared to earnings of $521,000 or $.08 per share in the prior year. While discussions continue with potential purchasers of the corporation's investment in Palm Springs, including the group which had a prior contract, no agreements have been reached and no contracts executed executed 1) adj. to have been completed. (Example: "it is an executed contract") 2) v. to have completed or fully performed. (Example: "he executed all the promises made in the contract") 3) v. at this time.
Financial Results
Quarter Ended Nine Months
Sept. 30, Sept. 30,
1996 1995 1996 1995
Revenues $42,000 $500,000 $682,000 $1,523,000
Expenses 179,000 272,000 713,000 1,002,000
Net earnings (loss) $(137,000) $228,000 $(31,000) $521,000
Net earnings per share $(0.02) $0.04 $(0.01) $0.08
Shares outstanding 6,524,000 6,524,000 6,524,000 6,524,000
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Americana Hotels and Realty Corp. is a real estate investment
trust which is currently operating under a plan of disposition of
assets and liquidation approved by stockholders in 1988.
CONTACT: Americana Americana, term used to describe material printed in or about the Americas, or written by Americans; usually restricted to the formative period in the history of the two continents. Hotels and Realty Morris W. Kellogg, 617/247-3358 |
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