Printer Friendly

HEARTLAND PARTNERS, L.P. REPORTS 1992 FIRST QUARTER OPERATING RESULTS

HEARTLAND PARTNERS, L.P. REPORTS 1992 FIRST QUARTER OPERATING RESULTS
 CHICAGO, May 14 /PRNewswire/ -- Heartland Partners, L.P., (AMEX: HTL) a publicly traded limited partnership involved in the ownership, development, leasing and sale of real estate properties, today reported a loss of $435,000 for the first quarter ended March 31, 1992, or 20 cents per Class A Unit, compared to a $747,000 loss, or 34 cents per Class A Unit, in the similar 1991 quarter. Revenues for the first quarter of 1992 totalling $1,212,000 were 34 percent higher than the $902,000 reported for the first quarter of 1991. Despite cost reductions made in 1991, operating expenses were about the same in both periods primarily due to increases in real estate taxes.
 Heartland Partners, L.P. owns substantially all of the real estate and related assets and liabilities previously owned by Chicago Milwaukee Corp. and its wholly owned subsidiary, Milwaukee Land Co.
 HEARTLAND PARTNERS, L.P.
 Summary of Financial Information
 (amounts in thousands, except unit information)
 Quarter ended
 3/31/92 3/31/91
 Total revenues $1,212 $ 902
 Total expenses 1,647 1,649
 Net income (loss) (435) (747)
 Net income (loss) per
 Class A Unit (A) (.20) (.34)
 Quarter ended
 Balance Sheet 3/31/92 3/31/91
 Properties, net $22,068 $21,865
 Preferred capital contribution 10,088 10,371
 Cash and all other assets 4,365 5,243
 Total assets 36,521 37,479
 Total liabilities (B) 8,073 8,596
 Partners' equity $28,448 $28,883
 (A) Net income (loss) per Class A Unit is compared by dividing net income (loss), after deducting the General Partner's return and the return of the Class B Interest, by 2,142,438 Class A Units outstanding.
 (B) Total liabilities include an allowance for claims totalling $4.0 million at March 31, 1992 and $4.3 million, at Dec. 31, 1991. As and when a payment attributable to the satisfaction, discharge or other resolution of these liabilities occurs, Chicago Milwaukee Corporation will pay such amounts to Heartland as capital contributions in respect of Chicago Milwaukee's Class B interest until the aggregate amount of such payments and any other contributions previously made in respect thereof total $18.1 million. Chicago Milwaukee Corporation pays interest to Heartland on the unpaid portion of the capital contribution at the average 1-year U.S. Treasury Bill rate as in effect from time to time, payable monthly.
 -0- 5/14/92
 /CONTACT: Gary Dunlap of Dragonette Inc., 312-565-4300, Leon F. Fiorentino, 312-294-0440, both for Heartland Partners/
 (HTL) CO: Heartland Partners, L.P. ST: Illinois IN: SU: ERN


LR -- NY116 -- 0525 05/14/92 19:20 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:May 14, 1992
Words:445
Previous Article:JIMMY CONNORS, 'A WALKING POWER STICK' SWINGS INTO ACTION ON TV AS SPOKESPERSON FOR THE FABERGE DEODORANT
Next Article:MICHIGAN OTC CHANGES, PROVIDED BY FIRST OF MICHIGAN CORP., TODAY: MAY 14, 1992
Topics:


Related Articles
HALLWOOD REALTY PARTNERS ANNOUNCES FIRST QUARTER 1992 FINANCIAL INFORMATION
HEARTLAND PARTNERS REPORTS 1992 SECOND QUARTER OPERATING RESULTS
NATIONAL REALTY REPORTS SECOND QUARTER RESULTS
HEARTLAND PARTNERS, L.P. REPORTS 1992 THIRD QUARTER OPERATING RESULTS
HEARTLAND PARTNERS, L.P. REPORTS 1992 FOURTH QUARTER OPERATING RESULTS
HEARTLAND PARTNERS, L.P. REPORTS 1993 FIRST QUARTER OPERATING RESULTS
HEARTLAND PARTNERS, L.P. REPORTS 1993 SECOND QUARTER OPERATING RESULTS
HEARTLAND PARTNERS, L.P. REPORTS 1993 THIRD QUARTER OPERATING RESULTS
HEARTLAND PARTNERS, L.P. REPORTS FOR THE FOURTH QUARTERS AND YEARS 1993 AND 1992
Heartland Partners Preliminary Results for 1st Quarter of 2005; Delay in Filing Form 10Q.

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