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UNITED MOBILE HOMES, INC. REPORTS NINE-MONTH EARNINGS

 EATONTOWN, N.J., Oct. 29 /PRNewswire/ -- United Mobile Homes, Inc. (NASDAQ: UMHI) reported net income of $969,000, or $.19 a share, for the nine months ended September 30, 1993 as compared to net income of $751,000, or $.16 a share, for the nine months ended September 30, 1992.
 A summary of significant financial information for the three months and nine months ended September 30, 1993 and 1992 is as follows:
 For the Three Months Ended
 9/30/93 9/30/92
 Total Revenues $2,900,000 $2,747,000
 Net Income $ 311,000 $ 215,000
 Net Income Per Share $ .06 $ .04
 For the Nine Months Ended
 9/30/93 9/30/92
 Total Revenues $8,581,000 $8,087,000
 Net Income $ 969,000 $ 751,000
 Net Income Per Share $ .19 $ .16
 Funds from operations, defined as net income excluding gain on sale of assets plus depreciation and amortization, increased by $273,000 to $2,368,000 for the nine months ended September 30, 1993, compared to $2,095,000 for the nine months ended September 30, 1992.
 The Board of Directors of United Mobile Homes, Inc. previously announced that it had increased its quarterly dividend by 33 percent. The new quarterly dividend of $.10 a share is payable December 15, 1993 to shareholders of record November 15, 1993. The Company's annual dividend rate is now $.40 per share.
 United Mobile Homes, Inc. owns and operates twenty mobile home parks located in New York, New Jersey, Pennsylvania, Ohio and Tennessee.
 -0- 10/29/93
 /CONTACT: Rosemarie Faccone, of United Mobile Homes, 908-389-3890/
 (UMHI)


CO: United Mobile Homes, Inc. ST: New Jersey IN: SU: ERN

LG-RW -- NY022 -- 8440 10/29/93 10:59 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
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