FREEHOLD, N.J., Aug. 9 /PRNewswire-FirstCall/ -- United Mobile Homes, Inc.
(Amex: UMH) reported net income of $4,946,000 or $0.59 a share for the six
months ended June 30, 2004, as compared to $3,770,000 or $0.49 a share for the
six months ended June 30, 2003.
A summary of significant financial information for the three months and
six months ended June 30, 2004 and 2003 is as follows:
Three Months Ended June 30,
2004 2003
Rental and Related Income $5,386,000 $5,226,000
Net Income $1,668,000 $1,967,000
Income Per Share $0.20 $0.25
Weighted Avg. Shares Outstanding 8,481,000 7,761,000
Six Months Ended June 30,
2004 2003
Rental and Related Income $10,731,000 $10,376,000
Net Income $4,946,000 $3,770,000
Income Per Share $0.59 $0.49
Weighted Avg. Shares Outstanding 8,368,000 7,727,000
Samuel A. Landy, President, stated, "The six months results were excellent
due to the Company taking advantage of the gains in our REIT securities
portfolio. We recorded gains on securities available for sale of $2,134,000
for the six months ended June 30, 2004 as compared to $672,000 for the six
months ended June 30, 2003."
United Mobile Homes, Inc., a publicly owned real estate investment trust,
owns and operates twenty-seven manufactured home communities located in New
Jersey, New York, Pennsylvania, Ohio and Tennessee. In addition, the Company
owns a portfolio of REIT securities.
SOURCE United Mobile Homes, Inc.
-0- 08/09/2004
/CONTACT: Rosemarie Faccone or Susan Jordan, United Mobile Homes, Inc.,
+1-732-577-9997/
(UMH)
CO: United Mobile Homes, Inc.
ST: New Jersey
IN: RLT FIN
SU: ERN
MZ
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8844 08/09/200414:15 EDThttp://www.prnewswire.com