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NEW MEXICO AND ARIZONA LAND CO. REPORTS THIRD QUARTER RESULTS

 PHOENIX, Nov. 3 /PRNewswire/ -- New Mexico and Arizona Land Co. (AMEX: NZ) announced the following financial results today:
 Third Quarter Nine Months
 Ended 9/30/93 Ended 9/30/93
 1993 1992 1993 1992
 Gross Revenues $2,442 $3,350 $7,724 $7,599
 Net Income $194 $256 $863 $847
 Earnings (loss)
 per share $0.08 $0.10 $0.35 $0.34
 Note: 000 omitted. 1992 results exclude a credit $0.23 per share from adoption of FAS 109. Certain amounts have been reclassified for comparative purposes.
 In 1992, the company wrote down the value of several properties at year-end; no such action is anticipated for 1993.
 -0- 11/3/93
 /CONTACT: Mike Kelley, 602-266-5455/
 (NZ)


CO: New Mexico and Arizona Land Co. ST: Arizona IN: SU: ERN

JB-LS -- LA005 -- 9960 11/03/93 08:30 EST
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Publication:PR Newswire
Date:Nov 3, 1993
Words:137
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