DVL, Inc. Reports Results of Operations for the Year Ended December 31, 2007
04 4월 2008 - 6:29AM
PR Newswire (US)
NEW YORK, April 3, 2008 /PRNewswire-FirstCall/ -- DVL, Inc.
(OTC:DVLN) (BULLETIN BOARD: DVLN) announced its operating results
for the year ended December 31, 2007. DVL's income from continuing
operations for the year ended December 31, 2007 was $2,770,000
($.08 basic and $.05 diluted net income per share) as compared to
$1,826,000 ($.05 basic and $.03 diluted net income per share) for
the year ended December 31, 2006. The principal reason for the
increase was that in 2007 DVL recognized $954,000 ($.03 basic and
$.02 diluted per share) of gains on satisfaction of mortgage loans.
The weighted average shares outstanding decreased due to the
repurchase of shares in March 2007. Shareholder's equity increased
to $21,686,000 as of December 31, 2007 from $19,909,000 as of
December 31, 2006. This press release contains statements which
constitute forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. Included are
statements regarding the intent, belief and/or current expectations
of the Company and its management. The Company's stockholders and
prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, and that actual results may differ
materially from those projected in the forward-looking statements.
Such risks and uncertainties include, among other things, general
economic conditions, and the actual performance of the portfolios
of periodic payment receivables and other risks and uncertainties
that are discussed herein and in the Company's reports filed with
the Securities and Exchange Commission. DVL, Inc. is a commercial
finance and real estate company which owns and services real
estate, commercial mortgages and other diversified commercial and
consumer finance assets. For more information, contact Henry Swain
at (212) 350-9900. Statistical table follows: DVL, INC. ANNUAL
RESULTS OF OPERATIONS (in thousands except share and per share
data) Year Ended December 31, 2007 2006 Revenues $10,974 $9,469
Income from continuing operations $2,770 $1,826 Loss from
discontinued operations (488) (67) Net income $2,282 $1,759 Basic
earnings per share: Income from continuing operations $.08 $.05
Loss from discontinued operations (.01) (.00) Net income $.07 $.05
Diluted earnings per share: Income from continuing operations $.05
$.03 Loss from discontinued operations (.01) (.00) Net income $.04
$.03 Weighted average shares outstanding - basic 34,083,726
38,315,466 Effect of dilutive securities 17,672,948 20,405,097
Weighted average shares outstanding - diluted 51,756,674 58,720,563
DATASOURCE: DVL, Inc. CONTACT: Henry Swain of DVL, Inc.,
+1-212-350-9900
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