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READING COMPANY ANNOUNCES THIRD QUARTER RESULTS

 READING COMPANY ANNOUNCES THIRD QUARTER RESULTS
 PHILADELPHIA, Nov. 14 /PRNewswire/ -- Reading Company


(NASDAQ: RDGCA) today reported that for the third quarter of 1991, the company had net income of $2,000 equivalent to $.00 per share vs. net income of $1,198,000 or $.24 per share in the third quarter last year.
 Revenues for the three-month period this year totaled $1,198,000 as compared with revenues of $1,908,000 in the comparable period last year.
 Net income for the nine months ended Sept. 30, 1991, totaled $1,953,000 equivalent to $.39 per share as compared to net income of $7,099,000 or $1.43 per share in the corresponding period last year. Results in last year's nine-month period included income from discontinued operations of $637,000 equal to $.13 per share as well as $5.7 million in gains from railroad stock investments.
 Reading Company's real estate activities include the managed sale of properties located outside of Center City Philadelphia, participation in real estate joint ventures and the retention and possible development of its Center City properties.
 READING COMPANY AND SUBSIDIARIES
 Consolidated Statements of Operations
 (Unaudited; in thousands, except shares and per-share amounts)
 Periods ended Three months Nine months
 Sept. 30 1991 1990 1991 1990
 Revenues $1,198 $1,908 $4,901 $10,416
 Income from continuing
 operations 2 561 1,953 6,462
 Income from discontinued
 operations --- 637 --- 637
 Net income 2 1,198 1,953 7,099
 Per-share information:
 Continuing operations $.00 $.11 $.39 $1.30
 Discontinued operations .00 .13 .00 .13
 Net income .00 .24 .39 1.43
 Shares used in
 computation 4,971,986 4,970,168 4,971,746 4,970,313
 -0- 11/14/91
 /CONTACT: Anthony V. Scoma of the Reading Company, 215-735-8300/
 (RDGCA) CO: Reading Company ST: Pennsylvania IN: SU: ERN KA-MK -- PH014 -- 4346 11/14/91 10:41 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Nov 14, 1991
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