FREEHOLD, N.J., March 28 /PRNewswire-FirstCall/ -- United Mobile Homes,
Inc. (Amex: UMH) reported net income of $6,512,000 or $.86 a share for the
year ended December 31, 2002, as compared to net income of $5,550,000 or $0.74
a share for the year ended December 31, 2001.
A summary of significant financial information for the years ended
December 31, 2002 and 2001, and for the quarters ended December 31, 2002 and
2001, is as follows:
For the Years Ended December 31,
2002 2001
Total Revenues $29,424,000 $26,882,000
Total Expenses $23,576,000 $21,304,000
Net Income $6,512,000 $5,550,000
Net Income Per Share $0.86 $0.74
Weighted Average Shares Outstanding 7,600,000 7,458,000
For the Three Months Ended December 31,
2002 2001
Total Revenues $6,980,000 $6,482,000
Total Expenses $6,007,000 $5,679,000
Net Income $1,646,000 $789,000
Net Income Per Share $0.22 $0.10
Weighted Average Shares Outstanding 7,643,000 7,516,000
United Mobile Homes, Inc., a publicly owned real estate investment trust,
owns and operates twenty-five manufactured home communities located in New
York, New Jersey, Pennsylvania, Ohio and Tennessee. In addition, the Company
owns a portfolio of REIT securities.
SOURCE United Mobile Homes, Inc.
-0- 03/28/2003
/CONTACT: Rosemarie Faccone, United Mobile Homes, +1-732-577-9997/
(UMH)
CO: United Mobile Homes, Inc.
ST: New Jersey
IN: RLT FIN
SU: ERN
MZ
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5144 03/28/2003 11:22 EST http://www.prnewswire.com