Monmouth (NASDAQ:MONM)
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From Jun 2019 to Jun 2024
FREEHOLD, N.J., March 16 /PRNewswire-FirstCall/ -- Monmouth Capital Corporation (NASDAQ:MONM) reported a net income of $1,167,000 or $.28 a share for the year ended December 31, 2005, as compared to $1,237,000 or $.37 a share for the year ended December 31, 2004.
A summary of significant financial information for the years ended December 31, 2005 and December 31, 2004 is as follows:
For the year ended For the year ended
December 31, 2005 December 31, 2004
Total Revenues $6,741,000 $5,309,000
Total Expenses $5,574,000 $4,072,000
Net Income $1,167,000 $1,237,000
Net Income Per Share $0.28 $0.37
Weighted Avg. Shares Outstanding 4,142,000 3,362,000
Total Real Estate Investments $54,609,000 $39,054,000
For the quarter ended For the quarter ended
December 31, 2005 December 31, 2004
Total Revenues $1,424,000 $1,391,000
Total Expenses $1,351,000 (1) $1,179,000
Net Income $73,000 $213,000
Net Income Per Share $0.02 $0.06
Weighted Avg. Shares Outstanding 4,482,000 3,666,000
(1) Increase due mainly to interest on convertible subordinated debentures
issued during 2005.
Eugene W. Landy, President, stated, "Management is pleased with the continued progress made by Monmouth Capital Corporation over the last two years. The Company acquired three new industrial properties during 2005 which increased the Company's real estate investments by 40% over the prior year. Net income decreased due mainly to a decrease in gain on securities transactions, as the Company invested the proceeds from the sale of securities in real estate during the year."
Monmouth Capital Corporation is currently operating as a diversified real estate investment trust (REIT), investing in real estate equities, mortgages, mortgage-backed securities and other REIT securities.
Monmouth Capital Corporation (NASDAQ:MONM) is part of a family of REITs including United Mobile Homes, Inc. (AMEX:UMH), which invests in manufactured home communities, and Monmouth Real Estate Investment Corporation (NASDAQ:MNRTA), which invests in net-leased industrial properties on long- term leases to investment grade tenants. Monmouth Capital Corporation pursues any real estate opportunities other than the specialized areas of United Mobile Homes, Inc. and Monmouth Real Estate Investment Corporation.
DATASOURCE: Monmouth Capital Corporation
CONTACT: Rosemarie Faccone or Susan Jordan, both of Monmouth Capital
Corporation, +1-732-577-9993