-----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, J0+Wdf9CwHdFgNWdjt9zbw8ByJjHzs1YEHZ/nQn98CRGUugr5aMM84S/8gO46e+X +pOMa9TGStSfSAyfC7XuEw== /in/edgar/work/0000792989-00-000008/0000792989-00-000008.txt : 20001115 0000792989-00-000008.hdr.sgml : 20001115 ACCESSION NUMBER: 0000792989-00-000008 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20000930 FILED AS OF DATE: 20001114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DSI REALTY INCOME FUND IX CENTRAL INDEX KEY: 0000764586 STANDARD INDUSTRIAL CLASSIFICATION: [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: 766157 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 September 30, 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 2-90168 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 September 30, 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 September 30, 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 September 30, 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: October 31, 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: October 31, 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 October 31, 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 financial statements for the period ended September 30, 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 September 30, 2000 and 1999, total revenues increased 7.8% from $727,838 to $784,305 and total expenses increased 15.7% from $427,707 to $494,737. Minority interest in income of real estate joint venture decreased 8.9% from $32,377 to $29,487. As a result, net income decreased 2.9% from $267,754 to $260,081 for the three-month period ended September 30, 2000, as compared to the same period in 1999. Rental revenue increased as a result of higher occupancy and unit rental rates. Occupancy levels for the Partnership's six mini-storage facilities averaged 87.7% for the three-month period ended September 30, 2000 as compared to 82.3% 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 increased approximately $71,100 (18.5%) due primarily to increases in yellow pages advertising costs, salaries and wages, workers compensation insurance and security and alarm services expenses, partially offset by a decrease in maintenance and repair expense. General and administrative expenses decreased approximately $4,100 (9.3%) primarily as a result of a decrease in equipment and computer lease expense. Minority interest in in- come of real estate joint venture decreased as a result of higher operating expenses at the facility which the joint venture owns. For the nine-month periods ended September 30, 2000, and 1999, total revenues increased 0.8% from $2,171,466 to $2,189,610 and total expenses increased 4.0% from $1,375,270 to $1,430,763. Minority interest in income of real estate joint venture increased slightly from $87,602 to $87,868. As a result, net income decreased 5.3% from $708,594 to $670,979 for the nine-month period ended September 30, 2000, as compared to the same period in 1999. The in- crease in revenue can be attributed primarily to an increase in late fees, as rental revenue remained constant. Operating expenses increased approx- imately $51,400 (4.3%) due primarily to increases in yellow pages advertising costs, salaries and wages and security and alarm services expenses, partially offset by decreases in maintenance and repair and power and sweeping expenses. 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 increased approximately $4,100 (2.3%) primarily as a result of an increase in legal and professional expense. Minority interest in income of real estate joint venture remainted relatively constant. The General Partners will continue their policy of funding improvements and maintenance of Partnership properties with cash generated from operations. The Partnership's financial resources appear to be adequate to meet its needs. The General Partners anticipate distributions to 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) BALANCE SHEETS(UNAUDITED) SEPTEMBER 30, 2000 AND DECEMBER 31, 1999
September 30, December 31, 2000 1999 ASSETS CASH AND CASH EQUIVALENTS $ 696,527 $ 503,249 PROPERTY, Net 5,258,702 5,700,171 OTHER ASSETS 59,725 61,924 TOTAL $6,014,954 $6,265,344 LIABILITIES AND PARTNERS' EQUITY (DEFICIT) LIABILITIES $ 801,889 $ 751,736 MINORITY INTEREST IN REAL ESTATE JOINT VENTURE 181,012 222,444 PARTNERS' EQUITY(DEFICIT): General Partners (87,119) (84,529) Limited Partners 5,119,172 5,375,693 Total partners' equity 5,032,053 5,291,164 TOTAL $6,014,954 $6,265,344 See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED) FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
September 30, September 30, 2000 1999 REVENUES: Rental Income $ 782,414 $ 725,364 Interest 1,891 2,474 Total revenues 784,305 727,838 EXPENSES: Operating 454,557 383,475 General and administrative 40,180 44,232 Total expenses 494,737 427,707 INCOME BEFORE EQUITY IN INCOME OF REAL ESTATE JOINT VENTURE 289,568 300,131 EQUITY IN INCOME OF REAL ESTATE (29,487) (32,377) NET INCOME $ 260,081 $ 267,754 AGGREGATE NET INCOME ALLOCATED TO: Limited partners $ 257,480 $ 265,076 General partners 2,601 2,678 TOTAL $ 260,081 $ 267,754 NET INCOME PER LIMITED PARTNERSHIP UNIT $ 8.39 $ 8.64 LIMITED PARTNERSHIP UNITS USED IN PER UNIT CALCULATION 30,693 30,693 See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
September 30, September 30, 2000 1999 REVENUES: Rental Income $2,184,154 $2,163,941 Interest 5,456 7,525 Total Revenues 2,189,610 2,171,466 EXPENSES: Operating 1,250,752 1,199,359 General and Administrative 180,011 175,911 Total Expenses 1,430,763 1,375,270 INCOME BEFORE MINORITY INTEREST IN INCOME OF REAL ESTATE JOINT VENTURE 758,847 796,196 MINORITY INTEREST IN INCOME OF REAL ESTATE JOINT VENTURE (87,868) (87,602) NET INCOME $670,979 $708,594 AGGREGATE NET INCOME ALLOCATED TO: Limited Partners 664,269 701,508 General Partners 6,710 7,086 TOTAL 670,979 708,594 NET INCOME PER LIMITED PARTNERSHIP UNIT $21.64 $22.86 LIMITED PARTNERSHIP UNITS USED IN PER UNIT CALCULATION 30,693 30,693 See accompanying notes to financial statements(unaudited).
STATEMENTS OF CHANGES IN PARTNERS' EQUITY (DEFICIT)(UNAUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
GENERAL LIMITED PARTNERS PARTNERS TOTAL BALANCE AT JANUARY 1, 1999 ($78,101) $6,012,109 $5,934,008 NET INCOME 7,086 701,508 708,594 DISTRIBUTIONS (9,300) (920,790) (930,090) BALANCE AT SEPTEMBER 30, 1999 ($80,315) $5,792,827 $5,712,512 BALANCE AT JANUARY 1, 2000 ($84,529) $5,375,693 $5,291,164 NET INCOME 6,710 664,269 670,979 DISTRIBUTIONS (9,300) (920,790) (930,090) BALANCE AT SEPTEMBER 30, 2000 ($87,119) $5,119,172 $5,032,053 See accompanying notes to consolidated financial statements(unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
September 30, September 30, 2000 1999 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 670,979 $708,594 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 440,813 440,812 Loss on disposal of property and equipment 656 Minority interest in income of real estate joint venture 87,868 87,602 Changes in assets and liabilities: Decrease(increase) in other assets 2,199 (13,078) (Increase)decrease in liabilities 50,153 (8,023) Net cash provided by operating activities 1,252,668 1,215,907 CASH FLOWS FROM FINANCING ACTIVITIES - Distributions to partners (930,090) (930,090) Distributions paid to minority interest in real estate joint venture (129,300) (110,700) Net cash used in financing activities (1,059,390) (1,040,790) NET INCREASE IN CASH AND CASH EQUIVALENTS 193,278 175,117 CASH AND CASH EQUIVALENTS: At beginning of period 503,249 633,690 At end of period $ 696,527 $808,807 See accompanying notes to 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 financial information as of September 30, 2000, and for the periods ended September 30, 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 September 30, 2000, the total cost and accumulated depreciation of the mini-storage facilities are as follows: Land $ 2,729,790 Buildings and improvements 11,018,002 Total 13,747,792 Less: Accumulated Depreciation ( 8,489,090) Property - Net $ 5,258,702
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 SEP-30-2000 DEC-31-2000 696527 0 0 0 0 0 0 0 0 0 0 0 13747792 0 8489090 0 6014954 0 0 0 0 0 0 0 0 0 0 0 0 0 6014954 0 2184154 0 2189610 0 0 0 0 0 0 0 0 0 0 0 670979 0 0 0 670979 0 0 0 0 0 0 0 670979 0 0 0 0 0
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