J. W. Mays Inc. (MAYS, Financial) filed Quarterly Report for the period ended 2011-01-31.
J. W. Mays Inc. has a market cap of $39.09 million; its shares were traded at around $19.39 with a P/E ratio of 74.58 and P/S ratio of 2.65. J. W. Mays Inc. had an annual average earning growth of 2.7% over the past 5 years.
Marketable securities -
available for sale $1,336,874 $1,336,874 $- $- $1,248,707 $1,248,707 $- $-
held-to-maturity 771,581 771,581 - - 979,218 979,218 - -
- - - - - - - -
$2,108,455 $2,108,455 $- $- $2,227,925 $2,227,925 $- $-
= = = = = = = =
Certificate of deposit $50,095 $- $- $50,095 $50,032 $- $- $50,032
Corporate debt
securities 653,706 10,805 93 664,418 301,235 3,412 123 304,524
- - - - - - - -
$703,801 $10,805 $ 93 $714,513 $351,267 $3,412 $123 $354,556
= = = = = = = =
Noncurrent:
Available-for-sale:
Mutual funds $679,216 $73,878 $- $753,094 $675,739 $10,328 $- $686,067
Equity securities 510,252 74,288 760 583,780 510,252 60,428 8,040 562,640
- - - - - - - -
$1,189,468 $148,166 $760 $1,336,874 $1,185,991 $70,756 $8,040 $1,248,707
= = = = = = = =
Held-to-maturity:
Corporate debt
securities $101,842 $ 5,321 $- $107,163 $661,700 $13,127 $133 $674,694
= = = = = = = =
Three Months Ended Six Months Ended
January 31 January 31
- -
2011 2010 2011 2010
- - - -
Interest income $14,937 $8,547 $28,301 $12,736
Dividend income 15,557 22,744 25,059 43,675
- - - -
Total $30,494 $31,291 $53,360 $56,411
= = = =
January 31, 2011 July 31, 2010
- -
Current
Annual Final Due Due Due Due
Interest Payment Within After Within After
Rate Date One Year One Year One Year One Year
- - - - - -
Mortgages:
Jamaica, New York property (a) 6% 4/01/12 $71,966 $1,049,021 $69,844 $1,085,542
Jamaica, New York property (b) 6.81% 10/01/11 2,184,691 - 137,910 2,113,949
Fishkill, New York property (c,d) 6.98% 2/18/15 40,539 1,653,441 39,122 1,673,579
Bond St. building, Brooklyn, NY (d) 6.98% 2/18/15 102,305 4,172,637 98,730 4,223,457
Jowein building, Brooklyn, NY (e) Variable 8/01/10 - - 20,000 -
- - - -
Total $2,399,501 $6,875,099 $365,606 $9,096,527
= = = =
(d) The Company, on August 19, 2004, closed a loan with a bank for a
$12,000,000 multiple draw term loan. This loan finances seventy-five (75%)
percent of the cost of capital improvements for an existing lease to a
tenant and capital improvements for potential future tenant leases at the
Company's Brooklyn, New York (Bond Street building) and Fishkill, New York
properties through February 2008. The loan also financed $850,000 towards
the construction of two new elevators at the Company's Brooklyn, New York
property (Bond Street building). The loan consists of: a) a permanent,
first mortgage loan to refinance an existing first mortgage loan affecting
the Fishkill, New York property, which matured on July 1, 2004 (the "First
Permanent Loan")(see Note 7(c)), b) a permanent subordinate mortgage loan
in the amount of $1,870,000 (the "Second Permanent Loan"), and c) multiple,
successively subordinate loans in the amount $8,295,274 ("Subordinate
Building Loans"). As of August 19, 2004, the Company refinanced the
existing mortgage on the Company's Fishkill, New York property, which
balance was $1,834,726 and took down an additional $2,820,000 for capital
improvements for two tenants at the Company's Bond Street building in
Brooklyn, New York. In fiscal 2006, 2007 and 2008, the Company drew down
additional amounts totaling $916,670, on its multiple draw term loan to
finance tenant improvements and brokerage commissions for the leasing of
13,026 square feet for office use at the Company's Bond Street building in
Brooklyn, New York. The Company in February 2008 converted the loan to a
seven (7) year permanent mortgage loan. The interest rate on conversion
was 6.98%. Since the loan has been converted to a permanent mortgage loan,
the balance of the financing on this loan was for the new elevators at the
Company's Bond Street building in Brooklyn, New York in the amount of
$850,000 referred to above. The $850,000 was drawn down in fiscal 2010.
Read the The complete Report
J. W. Mays Inc. has a market cap of $39.09 million; its shares were traded at around $19.39 with a P/E ratio of 74.58 and P/S ratio of 2.65. J. W. Mays Inc. had an annual average earning growth of 2.7% over the past 5 years.
Highlight of Business Operations:
Assets:Marketable securities -
available for sale $1,336,874 $1,336,874 $- $- $1,248,707 $1,248,707 $- $-
held-to-maturity 771,581 771,581 - - 979,218 979,218 - -
- - - - - - - -
$2,108,455 $2,108,455 $- $- $2,227,925 $2,227,925 $- $-
= = = = = = = =
Certificate of deposit $50,095 $- $- $50,095 $50,032 $- $- $50,032
Corporate debt
securities 653,706 10,805 93 664,418 301,235 3,412 123 304,524
- - - - - - - -
$703,801 $10,805 $ 93 $714,513 $351,267 $3,412 $123 $354,556
= = = = = = = =
Noncurrent:
Available-for-sale:
Mutual funds $679,216 $73,878 $- $753,094 $675,739 $10,328 $- $686,067
Equity securities 510,252 74,288 760 583,780 510,252 60,428 8,040 562,640
- - - - - - - -
$1,189,468 $148,166 $760 $1,336,874 $1,185,991 $70,756 $8,040 $1,248,707
= = = = = = = =
Held-to-maturity:
Corporate debt
securities $101,842 $ 5,321 $- $107,163 $661,700 $13,127 $133 $674,694
= = = = = = = =
Three Months Ended Six Months Ended
January 31 January 31
- -
2011 2010 2011 2010
- - - -
Interest income $14,937 $8,547 $28,301 $12,736
Dividend income 15,557 22,744 25,059 43,675
- - - -
Total $30,494 $31,291 $53,360 $56,411
= = = =
January 31, 2011 July 31, 2010
- -
Current
Annual Final Due Due Due Due
Interest Payment Within After Within After
Rate Date One Year One Year One Year One Year
- - - - - -
Mortgages:
Jamaica, New York property (a) 6% 4/01/12 $71,966 $1,049,021 $69,844 $1,085,542
Jamaica, New York property (b) 6.81% 10/01/11 2,184,691 - 137,910 2,113,949
Fishkill, New York property (c,d) 6.98% 2/18/15 40,539 1,653,441 39,122 1,673,579
Bond St. building, Brooklyn, NY (d) 6.98% 2/18/15 102,305 4,172,637 98,730 4,223,457
Jowein building, Brooklyn, NY (e) Variable 8/01/10 - - 20,000 -
- - - -
Total $2,399,501 $6,875,099 $365,606 $9,096,527
= = = =
(d) The Company, on August 19, 2004, closed a loan with a bank for a
$12,000,000 multiple draw term loan. This loan finances seventy-five (75%)
percent of the cost of capital improvements for an existing lease to a
tenant and capital improvements for potential future tenant leases at the
Company's Brooklyn, New York (Bond Street building) and Fishkill, New York
properties through February 2008. The loan also financed $850,000 towards
the construction of two new elevators at the Company's Brooklyn, New York
property (Bond Street building). The loan consists of: a) a permanent,
first mortgage loan to refinance an existing first mortgage loan affecting
the Fishkill, New York property, which matured on July 1, 2004 (the "First
Permanent Loan")(see Note 7(c)), b) a permanent subordinate mortgage loan
in the amount of $1,870,000 (the "Second Permanent Loan"), and c) multiple,
successively subordinate loans in the amount $8,295,274 ("Subordinate
Building Loans"). As of August 19, 2004, the Company refinanced the
existing mortgage on the Company's Fishkill, New York property, which
balance was $1,834,726 and took down an additional $2,820,000 for capital
improvements for two tenants at the Company's Bond Street building in
Brooklyn, New York. In fiscal 2006, 2007 and 2008, the Company drew down
additional amounts totaling $916,670, on its multiple draw term loan to
finance tenant improvements and brokerage commissions for the leasing of
13,026 square feet for office use at the Company's Bond Street building in
Brooklyn, New York. The Company in February 2008 converted the loan to a
seven (7) year permanent mortgage loan. The interest rate on conversion
was 6.98%. Since the loan has been converted to a permanent mortgage loan,
the balance of the financing on this loan was for the new elevators at the
Company's Bond Street building in Brooklyn, New York in the amount of
$850,000 referred to above. The $850,000 was drawn down in fiscal 2010.
Read the The complete Report
