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READING COMPANY ANNOUNCES THIRD QUARTER RESULTS

 PHILADELPHIA, Nov. 15 /PRNewswire/ -- Reading Company (NASDAQ: RDGCA) today reported that for the third quarter of 1993, the company had a net loss of $75,000, equivalent to $.02 per share vs. net income of $163,000 or $.03 per share in the third quarter last year.
 Revenues for the three-month period this year totaled $665,000 as compared with revenues of $1,234,000 in the comparable period last year.
 For the nine months ended Sept. 30, 1993, the company had a net loss of $314,000 or $.06 per share and revenues of $2,452,000 compared with a net loss of $2,921,000 or $.59 per share and revenues of $3,597,000 for the nine-month period last year.
 Reading Company is a Philadelphia-based real estate holding company.
 READING COMPANY AND SUBSIDIARIES
 Condensed Consolidated Statements of Operations
 (Unaudited; in thousands, except shares and per-share amounts)
 Periods ended Three months Nine months
 Sept. 30 1993 1992 1993 1992
 Revenues $665 $1,234 $2,452 $3,597
 (Loss) income before
 cumulative effect of
 accounting change (75) 163 (446) (2,921)
 Cumulative effect of
 accounting change --- --- 132 ---
 Net (loss) income (75) 163 (314) (2,921)
 Per-share information:
 (Loss) income before
 cumulative effect of
 accounting change $(.02) $.03 $(.09) $(.59)
 Cumulative effect of
 accounting change --- --- .03 ---
 Net (loss) income (.02) .03 (.06) (.59)
 Shares used in
 computation 4,973,630 4,973,778 4,973,663 4,973,369
 -0- 11/15/93
 /CONTACT: Anthony V. Scoma of the Reading Company, 215-735-8300/
 (RDGC)


CO: Reading Company ST: Pennsylvania IN: SU: ERN

MK-LJ -- PH030 -- 4567 11/15/93 14:55 EST
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Publication:PR Newswire
Date:Nov 15, 1993
Words:270
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