-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NN8Z09xexUpaKOEDFOkkdiBqcA9N1Mqm13y0+bZ5lnapI5gMIKH0NO5fdmu7yWFb yYVGuMN/zY/EAZj3lhaHqQ== 0000764586-01-000001.txt : 20010130 0000764586-01-000001.hdr.sgml : 20010130 ACCESSION NUMBER: 0000764586-01-000001 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20000331 FILED AS OF DATE: 20010129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DSI REALTY INCOME FUND IX CENTRAL INDEX KEY: 0000764586 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 330103989 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-14186 FILM NUMBER: 1517638 BUSINESS ADDRESS: STREET 1: 3701 LONG BEACH BLVD CITY: LONG BEACH STATE: CA ZIP: 90807 BUSINESS PHONE: 2135957711 MAIL ADDRESS: STREET 1: 3710 LONG BEACH BLVD STREET 2: P O BOX 357 CITY: LONG BEACH STATE: CA ZIP: 90807 10-Q 1 0001.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q /_x_/ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934. For the quarterly period ended March 31, 2000 /___/ Transition report pursuant to Section 13 or 15(d) of the Securities Act of 1934 for the transition period from ______________ to ________________. Commission File Number 2-96364 DSI REALTY INCOME FUND IX, A California Limited Partnership (Exact name of registrant as specified in its charter) California_______________________________________33-0103989 (State or other jurisdiction of (I.R.S. Employer incorporation) Identification No.) 6700 E. Pacific Coast Hwy., Long Beach, California 90803 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code-(562)493-8881 _________________________________________________________________ Former name, former address and former fiscal year, if changed since last report. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes _x_. No__. PART I - FINANCIAL INFORMATION Item 1. Financial Statements. The information required by Rule 10-01 of Regulation S-X is included in the Quarterly Report to the Limited Partners of Registrant for the period ended March 31, 2000 which is attached hereto as Exhibit "20" and incorporated herein by this reference. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Registrant incorporates by this reference its Quarterly Report to Limited Partners for the period ended March 31, 2000. PART II - OTHER INFORMATION Item 6. Exhibits and Reports on Form 8K. (a) Attached hereto as Exhibit "20" is Registrant's Quarterly Report to Limited Partners for the period ended March 31, 2000. (B) Registrant did not file any reports on Form 8-K for the period reported upon. SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: April 28, 2000 DSI REALTY INCOME FUND IX A California Limited Partnership (Registrant) By____\s\ Robert J. Conway_____ DSI Properties, Inc., as General Partner by ROBERT J. CONWAY, President and Chief Financial Officer SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: April 28, 2000 DSI REALTY INCOME FUND IX A California Limited Partnership (Registrant) By__\s\ Robert J. Conway________ DSI Properties, Inc., as General Partner by ROBERT J. CONWAY, President and Chief Financial Officer EX-20 2 0002.txt April 28, 2000 QUARTERLY REPORT TO THE LIMITED PARTNERS OF DSI REALTY INCOME FUND IX DEAR LIMITED PARTNERS: We are pleased to enclose the Partnership's unaudited consolidated financial statements for the period ended March 31, 2000. The following is Management's discussion and analysis of the Partnership's financial condition and results of its operations. For the three month periods ended March 31, 2000 and 1999, total revenues decreased 0.8% from $708,343 to $702,514 and total expenses decreased 3.7% from $490,804 to $472,822. Minority interest in income of real estate joint venture increased 25.5% from $25,649 to $32,189. As a result, net income increased 2.9% from $191,890 to $197,503 for the three-month period ended March 31, 2000, as compared to the same period in 1999. The decrease in revenue can be attributed to a decrease in rental income due to lower occupancy levels, partially offset by higher unit rental rates. Occupancy levels for the Partnership's six mini-storage facilities averaged 79.4% for the three month period ended March 31, 2000 as compared to 83.3% for the same period in 1999. The Partnership is continuing its marketing efforts to attract and keep new tenants in its various mini-storage facilities. Operating expenses decreased by approximately $21,300 (5.1%) primarily as a result of decreases in maintenance and repair, workers compensation insurance and power and sweeping expenses, partially offset by increases in yellow pages advertising costs and salaries and wages expense. Power and sweeping expenses decreased as the substantial snow removal costs in the prior year associated with the blizzard that hit Illinois, where two of the Partnership's properties are located did not materialize in the current year. General and administrative expenses remained relatively constant. The General Partners plan to continue their policy of funding the continuing improvements and maintenance of Partnership properties with cash generated from operations. The Partnership's resources appear to be adequate to meet its needs. The General Partners anticipate distributions to the Limited Partners to remain at the current level for the foreseeable future. We are not enclosing a copy of the Partnership Form 10-Q as filed with the Securities and Exchange Commission since all the information set forth therein is contained either in this letter or in the attached financial statements. However, if you wish to receive a copy of said report, please send a written request to DSI Realty Income Fund IX, P.O. Box 357, Long Beach, California 90801. Very truly yours, DSI REALTY INCOME FUND IX By: DSI Properties, Inc., as General Partner By /s/ Robert J. Conway ____________________________ ROBERT J. CONWAY, President EX-20 3 0003.txt DSI REALTY INCOME FUND IX (A California Real Estate Limited Partnership) CONSOLIDATED BALANCE SHEETS(UNAUDITED) MARCH 31, 2000 AND DECEMBER 31, 1999
March 31, December 31, 2000 1999 ASSETS CASH AND CASH EQUIVALENTS $ 517,378 $ 503,249 PROPERTY, NET 5,553,233 5,700,171 OTHER ASSETS 71,172 61,924 TOTAL $6,141,783 $6,265,344 LIABILITIES AND PARTNERS' EQUITY (DEFICIT) LIABILITIES $ 749,313 $ 751,736 MINORITY INTEREST IN REAL ESTATE JOINT VENTURE 213,833 222,444 PARTNERS' EQUITY (DEFICIT): General Partners (85,654) (84,529) Limited Partners 5,264,291 5,375,693 Total partners' equity 5,178,637 5,291,164 TOTAL $6,141,783 $6,265,344 See accompanying notes to consolidated financial statements(unaudited). CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999 March 31, March 31, 2000 1999 REVENUES: Rental Income $ 700,729 $ 705,837 Interest 1,785 2,506 Total revenues 702,514 708,343 EXPENSES: Operating 397,175 418,452 General and administrative 75,647 72,352 Total expenses 472,822 490,804 INCOME BEFORE MINORITY INTEREST IN INCOME OF REAL ESTATE JOINT VENTURE 229,692 217,539 MINORITY INTEREST IN INCOME OF REAL ESTATE JOINT VENTURE (32,189) (25,649) NET INCOME $ 197,503 $ 191,890 AGGREGATE NET INCOME ALLOCATED TO: Limited partners $ 195,528 $ 189,971 General partners 1,975 1,919 TOTAL $ 197,503 $ 191,890 NET INCOME PER LIMITED PARTNERSHIP UNIT $ 6.37 $ 6.19 LIMITED PARTNERSHIP UNITS USED IN PER UNIT CALCULATION 30,693 30,693 See accompanying notes to consolidated financial statements(unaudited).
CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' EQUITY (DEFICIT)(UNAUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999
GENERAL LIMITED PARTNERS PARTNERS TOTAL BALANCE AT JANUARY 1, 1999 ($78,101) $6,012,109 $5,934,008 NET INCOME 1,919 189,971 191,890 DISTRIBUTIONS (3,100) (306,930) (310,030) BALANCE AT MARCH 31, 1999 ($79,282) $5,895,150 $5,815,868 BALANCE AT JANUARY 1, 2000 ($84,529) $5,375,693 $5,291,164 NET INCOME 1,975 195,528 197,503 DISTRIBUTIONS (3,100) (306,930) (310,030) BALANCE AT MARCH 31, 2000 ($85,654) $5,264,291 $5,178,637 See accompanying notes to consolidated financial statements(unaudited).
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999
March 31, March 31, 2000 1999 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 197,503 $ 191,890 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 146,938 146,937 Minority interest in income real estate joint venture 32,189 25,649 Changes in assets and liabilities: Increase in other assets (9,248) (3,541) (Decrease)increase in liabilities (2,423) 8,849 Net cash provided by operating activities 364,959 369,784 CASH FLOWS FROM FINANCING ACTIVITIES - Distributions to partners (310,030) (310,030) Distributions paid to minority interest in real estate joint venture (40,800) (32,400) Net cash used in financing activities (350,830) (342,430) NET INCREASE IN CASH AND CASH EQUIVALENTS 14,129 27,354 CASH AND CASH EQUIVALENTS: At beginning of period 503,249 633,690 At end of period $ 517,378 $ 661,044 See accompanying notes to consolidated financial statements(unaudited).
DSI REALTY INCOME FUND IX (A California Real Estate Limited Partnership) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 1. GENERAL DSI Realty Income Fund IX (the "Partnership"), a limited partnership, has three general partners (DSI Properties, Inc., Robert J. Conway and Joseph W. Conway) and limited partners owning 30,693 limited partnership units. The accompanying consolidated financial information as of March 31, 2000 and for the periods ended March 31, 2000, and 1999 is unaudited. Such financial information includes all adjustments which are considered necessary by the Partnership's management for a fair presentation of the results for the periods indicated. 2. PROPERTY The Partnership owns five mini-storage facilities located in Monterey Park and Azusa, California; Everett, Washington; and Romeoville and Elgin, Illinois. The Partnership also owns a 70% interest in a mini-storage facility in Aurora, Colorado. As of March 31, 2000, the total cost and accumulated depreciation of the mini-storage facilities are as follows: Land $ 2,729,790 Buildings and equipment 11,018,658 Total 13,748,448 Less: Accumulated Depreciation ( 8,195,215) Property - Net $ 5,553,233
3. NET INCOME PER LIMITED PARTNERSHIP UNIT Net income per limited partnership unit is calculated by dividing the net income allocated to the limited partners by the number of limited partnership units outstanding during the period. EX-27 4 0004.txt
5 3-MOS YEAR DEC-31-2000 DEC-31-2000 MAR-31-2000 DEC-31-2000 517378 0 0 0 0 0 0 0 0 0 0 0 13748448 0 8195215 0 6141783 0 0 0 0 0 0 0 0 0 0 0 0 0 6141783 0 700729 0 702514 0 0 0 0 0 0 0 0 0 0 0 197503 0 0 0 197503 0 0 0 0 0 0 0 197503 0 0 0 0 0
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