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TRANSCONTINENTAL REALTY INVESTORS, INC. REPORTS THIRD QUARTER RESULTS

 DALLAS, Nov. 16 ~PRNewswire~ -- Transcontinental Realty Investo rs, Inc. (NYSE: TCI) reported a net loss of $1.2 million, or 39 cents per share, on revenues of $6.8 million for the quarter ended Sept. 30, 1992. This compares with a net loss of $9.3 million, or $3.07 per share, on revenues of $5.6 million for the third quarter of 1991.
 For the nine months ended Sept. 30, 1992, Transcontinental recorded a net loss of $3.4 million, or $1.07 per share, compared with a net loss of $9.9 million, or $3.28 per share, in the first nine months of 1991. Revenues increased to $19.6 million from $18.9 million over the same period in 1991.
 For the nine months ended Sept. 30, 1992, the company recorded a gain on sale of real estate of $1.4 million, compared with a gain on sale of real estate of $873,000 and an extraordinary gain of $1.2 million, from the forgiveness of a nonrecourse mortgage debt, during the same period in 1991.
 Transcontinental recorded provisions for losses of $719,000 and $3.0 million for the three-and-nine month periods ending Sept. 30, 1992, respectively. Provisions for losses of $9.1 million and $10.6 million were recorded for the corresponding periods in 1991.
 Net rental income (rental income less property operations) increased to $1.8 million for the three months ended Sept. 30, 1992, compared with $1.6 million for the corresponding period in 1991.
 Transcontinental Realty Investors, Inc. is a combination mortgage and equity real estate investment trust which operates nationwide.
 TRANSCONTINENTAL REALTY INVESTORS, INC.
 Financial Highlights
 (in thousands, except share and per share data)
 Periods ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 Total revenue $ 6,800 $ 5,562 $ 19,611 $ 18,930
 (Loss) before gain
 on sale of real
 estate and
 extraordinary gain (1,196) (9,269) (4,776) (11,975)
 Gain on sale of
 real estate - - 1,388 873
 Extraordinary gain - - - 1,176
 Net (loss) $ (1,196) $ (9,269) $ (3,388) $ (9,926)
 Net (loss) per
 share $ (0.39) $ (3.07) $ (1.07) $ (3.28)
 Weighted average
 common shares 3,048,588 3,017,615 3,170,092 3,020,892
 -0- 11~16~92
 ~CONTACT: Jean Krone Bono, director - investor relations of Transcontinental Realty Investors, Inc., 214-692-4800~
 (TCI)


CO: Transcontinental Realty Investors, Inc. ST: Texas IN: FIN SU: ERN

AH -- NY096 -- 1380 11~16~92 14:50 EST
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Publication:PR Newswire
Date:Nov 16, 1992
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