American Realty Investors reports higher net loss for Q3 2012 over prior year
Nov 16, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --American Realty Investors Inc ARL, a real estate investment company, reported on Thursday for the third quarter ended 30 September 2012 a net loss applicable to common shares of USD0.05m or USD0.00 loss per diluted earnings per share, including USD5.5m in depreciation and amortisation expense, increased from the net loss applicable to common shares of USD0.3m or USD0.03 loss per diluted earnings per share for the same period last year.
Interest income in the third quarter was USD2.3m for the three months ended 30 September 2012, increased by USD1.3m as compared to the prior period interest income of USD1.0m. Most of the increase is due to the cash received on the cash flow notes from Unified Housing Foundation Inc related to the mid-year surplus cash calculation.
The company's third quarter other income was USD1.5m, up by USD1.4m as compared to the other income of USD0.1m last year. This relates to the agreement between UHF and TCI for consulting services related to the development of apartment projects.
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