Cali Financial Report 1996: Financial Highlights





Operating Data:

(in thousands, except per share data)

                                                                                     August 31,
                                                      Year Ended      Year Ended      1994 to
                                                      December 31,    December 31,   December 3
                                                         1996	         1995	        1994
_______________________________________________________________________________________________

Revenues                                               $95,472        $62,335          $16,841
Operating and other expenses	                       $29,662	      $20,705	       $ 5,240
General and administrative                    	       $ 5,800	      $ 3,712	       $ 1,079
Depreciation and amortization                          $15,812        $12,111	       $ 3,764
Interest expense	                               $12,677	      $ 8,661	       $ 1,768
Income (loss) before gain on sale of rental
 property, minority interest and extraordinary items   $31,521	      $17,146	       $ 4,990
Income (loss) before extraordinary items	       $32,419	      $13,638	       $ 3,939
Net income per common share	                         $1.73	        $1.23	         $0.38
Dividends declared per common share	                 $1.75	        $1.66	         $0.54




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