Printer Friendly

PLM EQUIPMENT GROWTH FUNDS ANNOUNCE YEAR-END RESULTS

 PLM EQUIPMENT GROWTH FUNDS ANNOUNCE YEAR-END RESULTS
 SAN FRANCISCO, March 30 /PRNewswire/ -- PLM Equipment Growth Fund (AMEX: GFX), PLM Equipment Growth Fund II (AMEX: GFY) and PLM Equipment Growth Fund III (AMEX: GFZ), California limited partnerships that own and lease diversified portfolios of transportation equipment, today announced results for the quarter and year ended Dec. 31, 1991.
 PLM Equipment Growth Fund reported total revenue of $44.6 million for the year ended Dec. 31, 1991 (including a $9.0 million gain on equipment sales), compared to $36.2 million (including a $870,000 gain on equipment sales) in 1990. Net income for the year was $9.2 million, compared to $3.4 million in 1990. Cash distributions per depositary unit for the year were $2.30, compared to $2.25 a year ago.
 For the quarter ended Dec. 31, 1991, total revenue was $15.9 million (including a $7.7 million gain on equipment sales), compared to $8.6 million (including a $121,000 gain on equipment sales) in 1990. Net income for the fourth quarter of 1991 was $6.7 million, compared to a net loss of $384,000 in 1990. Cash distributions per depositary unit for the fourth quarter were $0.575, compared to $0.575 a year ago.
 The following table sets forth a summary of certain operating statistics for the quarter and year ended Dec. 31, 1991:
 PLM EQUIPMENT GROWTH FUND
 CERTAIN OPERATING STATISTICS (A)
 Quarter Ended Year Ended
 Dec. 31, Dec. 31,
 1991 1990 1991 1990
 Revenue $15,914 $ 8,557 $44,596 $36,215
 Net Income (loss) $ 6,728 $ (384) $ 9,204 $ 3,398
 Distributions $ 3,471 $ 3,542 $13,885 $13,619
 Distributions per unit $ 0.575 $ 0.575 $ 2.30 $ 2.25
 (A)Figures are in thousands, except per unit data
 PLM Equipment Growth Fund is a $120 million income-oriented limited partnership formed in May 1986 to acquire, manage and lease a diversified portfolio of used transportation equipment. The fund began trading on American Stock Exchange June 1, 1989. PLM Financial Services Inc., a subsidiary of PLM International, is the General Partner for PLM Equipment Growth Fund.
 PLM Equipment Growth Fund II reported total revenue of $44.5 million for the year ended Dec. 31, 1991 (including a $5.2 million gain on equipment sales), compared to $44.2 million (including a $1.5 million gain on equipment sales) in 1990. Net income for the year was $1.4 million, compared to $1.7 million in 1990. Cash distributions per depositary unit for the year were $2.20, compared to $2.12 a year ago.
 For the quarter ended Dec. 31, 1991, total revenue was $14.3 million (including a $4.1 million gain on equipment sales) compared to $10.5 million in 1990. Net income for the fourth quarter of 1991 was $3.7 million, compared to a net loss of $1.2 million in 1990. Cash distributions per depositary unit for the fourth quarter were $0.55, compared to $0.55 a year ago.
 The following table sets forth a summary of certain operating statistics for the quarter and year ended Dec. 31, 1991:
 PLM EQUIPMENT GROWTH FUND II
 CERTAIN OPERATING STATISTICS (A)
 Quarter Ended Year Ended
 Dec. 31, Dec. 31,
 1991 1990 1991 1990
 Revenue $14,286 $10,503 $44,519 $44,195
 Net Income (loss) $ 3,657 $(1,164) $ 1,447 $ 1,715
 Distributions $ 4,342 $ 4,300 $17,369 $16,772
 Distributions per unit $ 0.55 $ 0.55 $ 2.20 $ 2.12
 (A)Figures are in thousands, except per unit data
 PLM Equipment Growth Fund II is a $150 million income-oriented limited partnership formed in March 1987 to acquire, manage and lease a diversified portfolio of used transportation equipment. The fund began trading on American Stock Exchange Nov. 20, 1990. PLM Financial Services Inc., a subsidiary of PLM International, is the General Partner for PLM Equipment Growth Fund II.
 PLM Equipment Growth Fund III reported total revenue of $55.3 million for the year ended Dec. 31, 1991 (including a $5.8 million gain on equipment sales), compared to $49.5 million (including $120,000 gain on equipment sales) in 1990. Net loss for the year was $32,617, compared to a loss of $3.9 million in 1990. Cash distributions per depositary unit for the year were $2.05, compared to $2.00 a year ago.
 For the quarter ended Dec. 31, 1991, total revenue was $17.7 million (including a $5.8 million gain on sales equipment) compared to $12.7 million in 1990. Net income for the fourth quarter of 1991 was $2.8 million, compared to a net loss of $2.6 million in 1990. Cash distributions per depositary unit for the fourth quarter were $0.525, compared to $0.50 a year ago.
 The following table sets forth a summary of certain operating statistics for the quarter and year ended Dec. 31, 1991:
 PLM EQUIPMENT GROWTH FUND III
 CERTAIN OPERATING STATISTICS (A)
 Quarter Ended Year Ended
 Dec. 31, Dec. 31,
 1991 1990 1991 1990
 Revenue $17,707 $12,704 $55,290 $49,536
 Net Income (loss) $ 2,804 $(2,577) $ (33) $(3,920)
 Distributions $ 5,526 $ 5,263 $21,579 $21,052
 Distributions per unit $ 0.525 $ 0.50 $ 2.05 $ 2.00
 (A)Figures are in thousands, except per unit data
 PLM Equipment Growth Fund III is a $200 million income-oriented limited partnership formed in March 1988 to acquire, manage and lease a diversified portfolio of used transportation equipment. The fund began trading on American Stock Exchange Aug. 16, 1991. PLM Financial Services Inc., a subsidiary of PLM International, is the General Partner for PLM Equipment Growth Fund III.
 In announcing the results Allen V. Hirsch, president of PLM Financial Services Inc., the General Partner of the funds said, "All three funds benefitted from gains on equipment sales that favorably impacted fourth quarter and year end results. We believe the diversity of the partnership's portfolios also provided some protection from the economic slowdown of 1991."
 PLM International is a transportation equipment leasing company specializing in the management of equipment on operating leases. The company is also the leading sponsor of syndicated investment programs organized to invest primarily in transportation equipment.
 -0- 3/30/92
 /CONTACT: Valerie Carattini-Cooke of PLM International Inc., 415-905-7227/
 (GFX GFY GFZ) CO: PLM Equipment Growth Fund ST: California IN: TRN SU: ERN


DG -- SF007 -- 3175 03/30/92 22:07 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 30, 1992
Words:1074
Previous Article:WEITEK REPORTS ANTICIPATED FIRST-QUARTER RESULTS
Next Article:PLM INTERNATIONAL REPORTS YEAR-END RESULTS
Topics:


Related Articles
PLM INTERNATIONAL SECURES $38 MILLION FINANCING FOR PLM EQUIPMENT GROWTH FUND V; ALSO BEGINS OFFERING PLM EQUIPMENT GROWTH FUND VI
PLM INTERNATIONAL SECURES $38 MILLION FINANCING FOR PLM EQUIPMENT GROWTH FUND V; ALSO BEGINS OFFERING PLM EQUIPMENT GROWTH FUND VI
PLM INTERNATIONAL REPORTS YEAR-END RESULTS
PLM EQUIPMENT GROWTH FUNDS ANNOUNCE QUARTERLY RESULTS
PLM INTERNATIONAL REPORTS THIRD QUARTER RESULTS
/C O R R E C T I O N -- PLM INTERNATIONAL/
PLM INTERNATIONAL REPORTS SECOND QUARTER RESULTS
PLM EQUIPMENT GROWTH FUNDS ANNOUNCE YEAR-END RESULTS
PLM INTERNATIONAL ANNOUNCES FIRST QUARTER RESULTS
PLM INTERNATIONAL ANNOUNCES THIRD QUARTER RESULTS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters