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Quotes & Info
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| HMG > SEC Filings for HMG > Form 10-Q on 14-May-2009 | All Recent SEC Filings |
14-May-2009
Quarterly Report
RESULTS OF OPERATIONS
The Company reported a net loss attributable to HMG/Courtland Properties, Inc.
of approximately $246,000 ($.24 per share) and $255,000 ($.25 per share) for the
three months ended March 31, 2009 and 2008, respectively.
As discussed further below, total revenues for the three months ended March 31, 2009 as compared with the same period in 2008, decreased by approximately $82,000 or 3%. Total expenses for the three months ended March 31, 2009, as compared with the same period in 2008, decreased by approximately $62,000 or 2%.
REVENUES
Rentals and related revenues for the three months ended March 31, 2009 as
compared with the same period in 2008 increased by $46,000 (11%). Approximately
$33,000 of the increase was due to increased rental revenue from the Monty's
retail space. The remaining portion of the increase was due to increase rent
from Grove Isle as a result of inflation adjustments to base rent.
Restaurant operations:
Summarized statements of income for the Company's Monty's restaurant for the
three months ended March 31, 2009 and 2008 is presented below:
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