Printer Friendly

CONSOLIDATED-TOMOKA LAND CO. HOLDS ANNUAL MEETING, REPORTS RESULTS, ANNOUNCES DIVIDEND

 CONSOLIDATED-TOMOKA LAND CO. HOLDS ANNUAL MEETING,
 REPORTS RESULTS, ANNOUNCES DIVIDEND
 DAYTONA BEACH, Fla., April 23 /PRNewswire/ -- The annual meeting of shareholders of Consolidated-Tomoka Land Co. (NASDAQ: CTLC) was held at the Indigo Lakes Hilton Golf and Tennis Resort in Daytona Beach, Fla., today.
 Three directors of the company were re-elected as follows: John C. Adams Jr., Bob D. Allen, and David D. Peterson.
 Allen, president and chief executive officer, reported that net income for the first quarter of 1992 was $719,129 or $.23 per share, compared with a profit of $1,108,475 or $.35 per share for the similar period last year. Operating results on a recurring basis were actually improved over the prior year as profit of about $700,000 in settlement of citrus canker claims was reported in 1991. Overall, first quarter performance was strong and well ahead of budgets in place.
 At a meeting of directors following the shareholders' session, Allen and other officers were re-elected: David D. Peterson, chairman of the board; Bruce W. Teeters, senior vice president-Finance and treasurer; Robert F. Apgar, vice president-general counsel; Joseph Benedict III, vice president-Government Relations; Patricia Lagoni, vice president-Administration and secretary; Hugh J. Veley, vice president-Citrus; Emily J. Sottile, assistant secretary and assistant treasurer; Linda Crisp, assistant secretary, and Gary Moothart, controller.
 The board declared a mid-year dividend of $.17 per share, payable June 15 to shareholders of record on June 1.
 CONSOLIDATED-TOMOKA LAND CO.
 Quarter ended March 31 1992 1991
 Revenues $10,913,314 $12,171,832
 Income (loss) before extraordinary
 item $ 449,849 $ 697,889
 Extraordinary item $ 269,280(a)$ 410,586(a)
 Net income (loss) $ 719,129 $ 1,108,475
 Earnings (loss) per share
 Income (loss) before extraordinary
 item $ .14 $ .22
 Primary $ .23 $ .35
 Fully diluted $ .23 $ .35
 (a) Reduction of income taxes arising from carry-forward of prior years' operating losses.
 -0- 4/23/92
 /CONTACT: Bruce W. Teeters of Consolidated-Tomoka Land Co., 904-255-7558/
 (CTLC) CO: Consolidated-Tomoka Land Company ST: Florida IN: SU: ERN DIV


BN-BR -- AT009 -- 1720 04/23/92 09:55 EDT
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:Apr 23, 1992
Words:340
Previous Article:MICRODYNE CORPORATION REPORTS RECORD SALES, GAINS IN NET INCOME AND NET INCOME PER SHARE
Next Article:ALTHOUGH FRUSTRATED OVER SOARING COSTS, U.S. BUSINESSES WOULD KEEP CURRENT HEALTH SYSTEM


Related Articles
CONSOLIDATED-TOMOKA DECLARES DIVIDEND
CONSOLIDATED-TOMOKA LAND CO. ANNOUNCES 100 PERCENT STOCK DIVIDEND
CONSOLIDATED-TOMOKA LAND CO. REPORTS RESULTS
CONSOLIDATED-TOMOKA LAND CO. REPORTS RESULTS
CONSOLIDATED-TOMOKA REPORTS SECOND QUARTER EARNINGS AND INCREASES DIVIDEND
CONSOLIDATED-TOMOKA LAND CO. DECLARES DIVIDEND
CONSOLIDATED-TOMOKA REPORTS RESULTS
Consolidated-Tomoka Land Co. Declares Dividend
Consolidated-Tomoka Announces Fourth Consecutive Year Of Annual $.10 Per Share Dividend Increases
Consolidated-Tomoka Land Co. Increases Dividend.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters