Resource America reports earnings for the three months ended Dec. 31, 1995.Inc. (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 :REXI) (the "company") announced income from operations of $2,250,635 for the three month period ended Dec. 31, 1995 compared to $234,410 for the similar prior period. Net income (after provision for federal income taxes) was $1,598,062 ($1.87 per share) and $200,243 (27 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. ) for the three months ended Dec. 31, 1995 and the similar prior period, respectively. -0-
Three Months Ended
Dec. 31,
1995 1994
Revenue $4,025,735 $1,977,494 Income from operations 2,250,635 234,410 Other income 427 833 Provision for income tax (653,000) (35,000) Net income 1,598,062 200,243 Net income/share 1.87 0.27 Total assets 39,264,444 37,549,964 Stockholders' equity 27,959,532 26,551,543 Average shares $ 859,000 $ 737,500 The company's operating performance improved over the similar prior period due primarily to continued growth in its real estate activities -- focusing on the acquisition of additional mortgages and restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). of currently held real estate investments -- and the contribution of leasing activities acquired in September September: see month. 1995. Resource America America [for Amerigo Vespucci], the lands of the Western Hemisphere—North America, Central (or Middle) America, and South America. The world map published in 1507 by Martin Waldseemüller is the first known cartographic use of the name. is a specialty-finance company principally engaged in the acquisition and management of income producing, partnership related assets -- currently managing assets of its own and of others in excess of $180 million. The company has focused its interest on the acquisition at substantial discount on income-producing real estate mortgages in the $1 million to $10 million range -- now holding 19 real estate loans representing total receivables Receivables An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company's accountants and reported on the balance sheet, and they and include all debts owed at face value in excess of $64 million. The company will continue to seek and acquire additional investments in similar situations as they become available. The company also manages equipment leasing partnerships Equipment leasing partnership A limited partnership that receives income and tax benefits such as depreciation costs by purchasing equipment and leasing it to other parties. that hold over $85 million in computer peripheral equipment, and also manages and operates partnership related energy assets in the Appalachian Basin. CONTACT: Resource America Inc., Philadelphia Michael L. Staines, 215/546-5005 |
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