Intergroup Corp. (INTG, Financial) filed Quarterly Report for the period ended 2010-09-30.
Intergroup Corp. has a market cap of $62.7 million; its shares were traded at around $25.8999 with and P/S ratio of 1.4. Intergroup Corp. had an annual average earning growth of 21.9% over the past 10 years. GuruFocus rated Intergroup Corp. the business predictability rank of 2-star.
income of $2,209,000 before interest, depreciation and amortization, on
operating revenues of $9,526,000 compared to operating income of $1,654,000
before interest, depreciation and amortization, on operating revenues of
$8,530,000 for the three months ended September 30, 2009. The increase in
While operating in a challenging economy, real estate operations remained
relatively consistent. The Company had real estate revenues of $3,090,000 for
the three months ended September 30, 2010 compared with revenues of $3,045,000
for the three months ended September 30, 2009. While rental revenues increased
by $45,000, real estate operating expenses also increased by $122,000.
Interest expense decreased to $772,000 from $830,000 as the result of interest
rates resetting lower on a certain number of our properties located in Los
Angeles, California. Management continues to review and analyze the Company's
real estate operations to improve occupancy and rental rates and to reduce
expenses and improve efficiencies.
The Company had a net gain on marketable securities of $353,000 for the three
months ended September 30, 2010 compared to a loss of $1,322,000 for the three
months ended September 30, 2009. For the three months ended September 30,
2010, the Company had a net realized loss of $113,000 and a net unrealized gain
of $466,000. For the three months ended September 30, 2009, the Company had a
net realized gain of $148,000 and net unrealized loss of $1,470,000. Gains and
losses on marketable securities may fluctuate significantly from period to
period in the future and could have a significant impact on the Company's
results of operations. However, the amount of gain or loss on marketable
securities for any given period may have no predictive value and variations in
amount from period to period may have no analytical value. For a more detailed
description of the composition of the Company's marketable securities please
see the Marketable Securities section below.
As of September 30, 2010, the Company had net other investments of $6,462,000.
Included in the net other investments are notes and convertible notes in
Comstock Mining, Inc. ("Comstock"), a public company, that had a carrying value
of $1,875,000 (net of impairment adjustments) as of September 30, 2010. The
face value of these notes and convertible notes as of September 30, 2010
totaled approximately $13,231,000, which includes principal and accrued
interest. On October 20, 2010, the Company exchanged the $13,231,000 in notes,
convertible notes and debt instruments that it held in Comstock for 13,231
shares of newly created 7 1/2% Series A-1 Convertible Preferred Stock of
Comstock. Please see NOTE 11 - SUBSEQUENT EVENTS of the notes to the condensed
consolidated financial statements for further discussion on the Company's other
investments.
For the three months ended September 30, 2010 2009
- -
Net gain(loss) on marketable securities $ 353,000 $ (1,322,000)
Net unrealized gain on other investments 41,000 -
Impairment loss on other investments (230,000) -
Dividend & interest income 139,000 77,000
Margin interest expense (75,000) (136,000)
Trading and management expenses (228,000) (240,000)
- -
$ - $ (1,621,000)
= =
Total Year 1 Year 2 Year 3 Year 4 Year 5 Thereafter
- - - - - - -
Mortgage notes payable $138,849,000 $5,834,000 $11,769,000 $39,521,000 $ 7,268,000 $9,055,000 $65,402,000
Other notes payable 3,966,000 926,000 708,000 694,000 1,629,000 9,000 -
Operating leases 725,000 203,000 103,000 87,000 107,000 111,000 114,000
- - - - - - -
Total $143,540,000 $6,963,000 $12,580,000 $40,302,000 $ 9,004,000 $9,175,000 $65,516,000
= = = = = = =
IMPACT OF INFLATION
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Intergroup Corp. has a market cap of $62.7 million; its shares were traded at around $25.8999 with and P/S ratio of 1.4. Intergroup Corp. had an annual average earning growth of 21.9% over the past 10 years. GuruFocus rated Intergroup Corp. the business predictability rank of 2-star.
Highlight of Business Operations:
For the three months ended September 30, 2010, the Hotel generated operatingincome of $2,209,000 before interest, depreciation and amortization, on
operating revenues of $9,526,000 compared to operating income of $1,654,000
before interest, depreciation and amortization, on operating revenues of
$8,530,000 for the three months ended September 30, 2009. The increase in
While operating in a challenging economy, real estate operations remained
relatively consistent. The Company had real estate revenues of $3,090,000 for
the three months ended September 30, 2010 compared with revenues of $3,045,000
for the three months ended September 30, 2009. While rental revenues increased
by $45,000, real estate operating expenses also increased by $122,000.
Interest expense decreased to $772,000 from $830,000 as the result of interest
rates resetting lower on a certain number of our properties located in Los
Angeles, California. Management continues to review and analyze the Company's
real estate operations to improve occupancy and rental rates and to reduce
expenses and improve efficiencies.
The Company had a net gain on marketable securities of $353,000 for the three
months ended September 30, 2010 compared to a loss of $1,322,000 for the three
months ended September 30, 2009. For the three months ended September 30,
2010, the Company had a net realized loss of $113,000 and a net unrealized gain
of $466,000. For the three months ended September 30, 2009, the Company had a
net realized gain of $148,000 and net unrealized loss of $1,470,000. Gains and
losses on marketable securities may fluctuate significantly from period to
period in the future and could have a significant impact on the Company's
results of operations. However, the amount of gain or loss on marketable
securities for any given period may have no predictive value and variations in
amount from period to period may have no analytical value. For a more detailed
description of the composition of the Company's marketable securities please
see the Marketable Securities section below.
As of September 30, 2010, the Company had net other investments of $6,462,000.
Included in the net other investments are notes and convertible notes in
Comstock Mining, Inc. ("Comstock"), a public company, that had a carrying value
of $1,875,000 (net of impairment adjustments) as of September 30, 2010. The
face value of these notes and convertible notes as of September 30, 2010
totaled approximately $13,231,000, which includes principal and accrued
interest. On October 20, 2010, the Company exchanged the $13,231,000 in notes,
convertible notes and debt instruments that it held in Comstock for 13,231
shares of newly created 7 1/2% Series A-1 Convertible Preferred Stock of
Comstock. Please see NOTE 11 - SUBSEQUENT EVENTS of the notes to the condensed
consolidated financial statements for further discussion on the Company's other
investments.
For the three months ended September 30, 2010 2009
- -
Net gain(loss) on marketable securities $ 353,000 $ (1,322,000)
Net unrealized gain on other investments 41,000 -
Impairment loss on other investments (230,000) -
Dividend & interest income 139,000 77,000
Margin interest expense (75,000) (136,000)
Trading and management expenses (228,000) (240,000)
- -
$ - $ (1,621,000)
= =
Total Year 1 Year 2 Year 3 Year 4 Year 5 Thereafter
- - - - - - -
Mortgage notes payable $138,849,000 $5,834,000 $11,769,000 $39,521,000 $ 7,268,000 $9,055,000 $65,402,000
Other notes payable 3,966,000 926,000 708,000 694,000 1,629,000 9,000 -
Operating leases 725,000 203,000 103,000 87,000 107,000 111,000 114,000
- - - - - - -
Total $143,540,000 $6,963,000 $12,580,000 $40,302,000 $ 9,004,000 $9,175,000 $65,516,000
= = = = = = =
IMPACT OF INFLATION
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