American Realty Trust of Arlington reported an $88,000 profit (4 cents per share) for the second quarter, but said the earnings came from sales of property rather than from operations.
The trust, which had been in financial trouble for several years and defaulted on $4.5 million in debentures due in March, had a $158,000 loss on operations and made $246,000 on the sale of a Charlotte, N.C., office building.
A year ago American Realty had a loss for the quarter of $353,000 (16 cents) on revenues of $1.05 million. This year's second quarter revenues rose to $1.10 million.
For the first half of fiscal 1979, American Realty reported a net loss of $1.53 million (69 cents) on revenues of $2.6 million. compared with a net earnings of $952,000 (43 cents) on revenues of $25 million. The prior year's profits were entirely due to sales of property.
American Health Services, a Washington nursing home and hospital company, reported its net income for the quarter ended March 31 increased to $539,000 (42 cents per share) from $313,000 (37 cents) a year earlier.
Revenues for the period declined to $4.7 million from $6.5 million, the company said.
For the first half, AHS earned $2.7 million ($3.23) compared with $422,000 (50 cents) a year earlier. This year's results include a $2.2 million gain from sale of three nursing homes.
MCD Holdings Inc. of Seabrook, Md., reported net income of $758,000 (18 per cents per share) for the quarter ended March 31, up from $324,000 (8 cents) in the same period a year earlier.
Revenues climbed to $17.9 million from $12 million, primarily because the home building firm sold more houses.