News Details

FREEHOLD, N.J., March 10 /PRNewswire-FirstCall/ -- United Mobile Homes, Inc. (Amex: UMH) reported net income of $6,990,000 or $0.74 a share for the year ended December 31, 2005, as compared to $8,202,000 or $0.95 a share for the year ended December 31, 2004.

    A summary of significant financial information for the years ended
December 31, 2005 and 2004, and for the quarters ended December 31, 2005 and
2004, is as follows:


                                             For the Years Ended December 31,
                                                    2005          2004

    Total Revenues                               $39,340,000    $34,358,000
    Total Expenses                               $32,393,000    $26,177,000
    Net Income                                    $6,990,000     $8,202,000
    Net Income Per Share                               $0.74          $0.95
    Weighted Average Shares Outstanding            9,473,000      8,599,000


                                      For the Three Months Ended December 31,
                                                    2005           2004

    Total Revenues                               $10,232,000     $8,683,000
    Total Expenses                                $8,808,000     $6,878,000
    Net Income                                    $1,446,000     $1,817,000
    Net Income Per Share                               $0.15          $0.20
    Weighted Average Shares Outstanding            9,722,000      9,085,000

Samuel A. Landy, President, stated, "2005 marked UMH's 15th consecutive year of dividend growth. We are very proud of our long-term track record of dividend payments and hope to continue our positive trend in 2006 barring any unforeseen developments. In 2005, we experienced a net decrease in our gain on securities available for sales transactions of over $1,200,000. However, we experienced record sales of manufactured homes, increasing from $7,300,000 in 2004 to $12,400,000 in 2005. Given this sales volume, we are optimistic that the fundamental business of owning and operating our communities will improve. UMH has substantial funds to invest and will continue to do so in a conservative manner."

United Mobile Homes, Inc., a publicly owned real estate investment trust, owns and operates twenty-seven 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-                             03/10/2006
    /CONTACT:  Rosemarie Faccone or Susan Jordan, United Mobile Homes, Inc.,
+1-732-577-9997/
    CO:  United Mobile Homes, Inc.
ST:  New Jersey
IN:  RLT FIN
SU:  ERN

MZ
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1704 03/10/200612:13 ESThttp://www.prnewswire.com