NZ makes announcement.PHOENIX--(BUSINESS WIRE)--Dec. 5, 1996--NZ (AMEX AMEX See: American Stock Exchange :NZ) recently consummated several significant business transactions which will impact its future. Tramway & Academy (N.M.) Our 11.2 acre commercial corner in Albuquerque was sold on Oct. 30 for a market setting price of $12 per square foot, or $5.9 million cash. This sale alone will add over 70 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. to NZ's 1996 fourth quarter and net earnings for the year. Cottonwood cottonwood: see willow. cottonwood Any of several fast-growing North American trees of the genus Populus. Members of the willow family, cottonwoods have heart-shaped, toothed leaves and cottony seeds. The dangling leaves clatter in the wind. (Ariz.) On Oct. 23, NZ added to its portfolio of Southwest real estate by acquiring a 635 acre parcel near the community of Cottonwood, Ariz. This land is in the beautiful Verde Valley The Verde Valley is a valley in central Arizona in the United States of America. The Verde River runs through it. It is overlooked by Mingus Mountain and the Mogollon Rim. History The first notice of this region appears in the report of one Espejo, who visited in 1583. and only about 90 minutes driving time north of Phoenix -- now, the eighth largest metropolis in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . It offers more affordable land and less congested con·gest·ed adj. Affected with or characterized by congestion. congested ENT adjective Referring to a boggy blood-filled tissue. See Nasal congestion. , more open space living to central Arizona residents wanting a change of pace or second life style. The area is also attracting new retirees to the state for much the same reasons. Hansen Uranium Deposit (Colo.) On Nov. 15, NZ closed on the purchase of 10,000 acres of Colorado mountain real estate containing one of the better known uranium deposits of the Western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century -- the former Cyprus-Westinghouse "Hansen Orebody" near Canon City, Colo. This uranium deposit was left undeveloped in the wake of the uranium price collapse after 1980. Previous studies by independent consulting geologists have indicated that the Hansen deposit contains up to 25 million pounds of uranium oxide Uranium oxide is an oxide of the element uranium. The metal uranium forms several oxides:
Mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. is over 100 feet thick in parts of this uranium deposit and a major portion of the resource is contained in only 40 acres. The uranium mineral rights to this property will soon be acquired by NZU NZU New Zealand University , our wholly-owned subsidiary, whose uranium resources will then total about 60 million pounds. Seven Canyons of Sedona (Ariz.) Our new Seven Canyons vacation ownership development project near Sedona is making good progress. This property will be the first timeshare development in the country designed and built to accommodate a golf course. Moreover, we have here one of the world's finest World's Finest may refer to:
Such weekly intervals in the Sedona area, with lesser physical environments, are currently selling above $15,000 per week. The mathematics here are not only compelling, but, we think, achievable. Great Vacations International Inc. (Ariz.) The company is pleased to announce that Ronald F. Tanner has joined the NZ family as president of Great Vacations International Inc., the company's marketing entity for its Seven Canyons property. Tanner is a widely recognized marketing specialist in the timeshare industry. -0-
New Mexico and Arizona Land Co. and Subsidiaries
Unaudited Consolidated Statements of Income
(In thousands, except per share data)
Nine Months Ended
Sept. 30,
1996 1995
Revenue $12,419 $17,767
Net income $2,150 $4,653
Earnings per share(a) $0.71 $1.55
Outstanding shares 3,008 2,996
(a) 1995 EPS restated for stock dividend paid July 18, 1996
New Mexico and Arizona Land Co. and Subsidiaries
Consolidated Balance Sheets
(In thousands)
Sept. 30, Dec. 31,
1996 1995
(Unaudited)
Assets
Properties, net $47,736 $41,327
Receivables, net 10,089 9,690
Cash and cash equivalents 5,091 5,301
Other 1,751 1,364
$64,667 $57,682
Liabilities and Shareholders' Equity
Notes and accounts payable $20,008 $15,079
Deferred revenue 5,234 5,330
Deferred income taxes 4,303 4,188
Minority interests 2,255 2,364
Shareholders' equity 32,867 30,721
$64,667 $57,682
CONTACT: New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). and Arizona Land Co., Phoenix Liz Bedewi, 602/952-8836 (General) E-mail: lbedewi@aol.com J.D. Sphar, 505/881-6644 (Uranium/Minerals Information) |
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