Arizona Land Income Corporation Reports Second Quarter Results
August 14 2007 - 4:37PM
Business Wire
Arizona Land Income Corporation (AMEX: AZL), an independent real
estate investment trust (REIT), today announced earnings for the
three and six month periods ending June 30, 2007. For the operating
period of April 1 through June 30, 2007, the Company had total
income of approximately $58,000 compared to $120,000 for the
quarter ended June 30, 2006. The Company attributes this decrease
to a decrease of approximately $101,290 in interest on mortgages.
The Company reported a net loss of approximately $22,000 or ($.01)
per share for the quarter ended June 30, 2007, compared to a net
income of approximately $95,000 or $.05 per share for the quarter
ended June 30, 2006. For the six-month period ending June 30, 2007,
the Company reported total income of approximately $129,000
compared to approximately $233,000 for the same period during
fiscal 2006. This decrease is due primarily to a decrease of
approximately $162,000 in interest on mortgages and an increase of
approximately $57,000 in interest on temporary investments. The
Company reported a net loss of approximately $100,000 or ($.05) per
share for the period from January 1, 2007 through June 30, 2007.
The net income for the comparable prior period in 2006 was
approximately $179,000 or $0.10 per share. The net loss in income
is primarily attributable to a decrease in interest on mortgages
and an increase in fees for professional services and
administration and general expenses. Safe Harbor Statement under
the Private Securities Litigation Reform Act of 1995: Statements
contained in this release except for historical information are
forward-looking statements that are based on current expectations
and involve risks and uncertainties. Without limiting the
generality of the foregoing, words such as �may,� �will,� �expect,�
�believe,� �anticipate,� �intend,� �could,� �estimate,� or
�continue� or the negative or other variations thereof or
comparable terminology are intended to identify forward-looking
statements. The risks and uncertainties inherent in such statements
may cause actual future events or results to differ materially and
adversely from those described in the forward-looking statements.
Specifically, there can be no assurance that the Company will
complete a merger or acquisition transaction, or any other
strategic transaction on favorable terms or at all. Additional
important factors that may cause a difference between projected and
actual results for the Company are discussed in the Company�s
filings from time to time with the U.S. Securities and Exchange
Commission, including but not limited to the Company�s annual
reports on Form 10-K, subsequent quarterly filings on Form 10-Q and
current reports on Form 8-K. The Company disclaims any obligation
to revise or update any forward-looking statements that may be made
from time to time by it or on its behalf.
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