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J. W. Mays Inc. Reports Operating Results (10-Q)

December 06, 2012 | About:
10qk

10qk

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J. W. Mays Inc. (MAYS) filed Quarterly Report for the period ended 2012-10-31.

J.w. Mays, Inc. has a market cap of $44.4278 million; its shares were traded at around $0 with a P/E ratio of 37.36 and P/S ratio of 2.69. J.w. Mays, Inc. had an annual average earning growth of 0.9% over the past 10 years.

Highlight of Business Operations:

Revenues in the current three months increased to $4,194,532 from $3,982,537 in the comparable 2011 three months primarily due to two new tenants at the Company's Nine Bond Street, Brooklyn, New York property, one new tenant at the Company's Massapequa, New York property and increased rents from existing tenants.

Real estate operating expenses in the current three months decreased to $2,000,894 from $2,014,265 in the comparable 2011 three months primarily due to decreases in utility costs and licenses and permits, partially offset by increases in maintenance costs.

Administrative and general expenses in the current three months decreased to $844,069 from $940,421 in the comparable 2011 three months primarily due to decreases in payroll costs, legal and professional costs and stationary and printing costs.

Interest expense in the current three months exceeded investment income by $103,538 and by $148,877 in the comparable 2011 three months. The decrease in the excess of interest expense over investment income was due primarily to scheduled repayments of debt.

The Company had expenditures of $66,898 in the three months ended October 31, 2012 for work on the elevators in the Brooklyn, New York and Jamaica, New York properties. The cost of the project will be approximately $300,000 and is anticipated to be completed in the spring of 2013.

Read the The complete Report

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