-----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, Cf3s2BQNKQ22lIy/5goZCwvqPLer8ITEvw6FGof8B7BuBwbsnTY5NxB03sWHMS4E DvMoyO+TwidlKEdtbvdtlA== 0000950117-03-002147.txt : 20030516 0000950117-03-002147.hdr.sgml : 20030516 20030516105608 ACCESSION NUMBER: 0000950117-03-002147 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030515 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030516 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN REAL ESTATE PARTNERS L P CENTRAL INDEX KEY: 0000813762 STANDARD INDUSTRIAL CLASSIFICATION: OPERATORS OF NONRESIDENTIAL BUILDINGS [6512] IRS NUMBER: 133398766 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09516 FILM NUMBER: 03707527 BUSINESS ADDRESS: STREET 1: 100 SOUTH BEDFORD ROAD CITY: MT KISCO STATE: NY ZIP: 10549 BUSINESS PHONE: 9142427700 8-K 1 a35341.txt AMERICAN REAL ESTATE PARTNERS, L.P. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ----------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 MAY 15, 2003 ------------------------ Date of Report (Date of earliest event reported) AMERICAN REAL ESTATE PARTNERS, L.P. ------------------------------------------------------ (Exact Name of Registrant as Specified in its Charter) DELAWARE 1-9516 13-3398766 -------- ------- ---------- (State of Organization) (Commission File Number) (IRS Employer Identification Number)
100 SOUTH BEDFORD ROAD MT. KISCO, NY 10549 ----------------------- (Address of Registrant's Principal Executive Office (Zip Code) (914) 242-7700 -------------- (Registrant's telephone number, including area code) ----------------------------- (Former Name or Former Address, if Changed Since Last Report) ITEM 5. OTHER EVENTS On May 15, 2003, the Registrant announced its 2003 first quarter financial results. Reference is made to the press release, dated May 15, 2003, annexed hereto as Exhibit 99.3 for information regarding the announcement. ITEM 7. EXHIBITS Description of Document Exhibit No. 99.3 - Press Release, dated May 15, 2003 1 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMERICAN REAL ESTATE PARTNERS, L.P. (Registrant) By: American Property Investors, Inc. General Partner By: /s/ John P. Saldarelli ----------------------------------------------- John P. Saldarelli Date: May 16, 2003 Chief Financial Officer, Secretary and Treasurer EXHIBIT INDEX Exhibit Number Description Page No. - ------------- ----------- -------- 99.3 Press Release dated May 15, 2003 3 2 EX-99 3 ex99-3.txt EXHIBIT 99.3 Exhibit 99.3 Contact: John P. Saldarelli Secretary and Treasurer (914) 242-7700 FOR IMMEDIATE RELEASE AMERICAN REAL ESTATE PARTNERS, L.P. REPORTS FIRST QUARTER RESULTS Mount Kisco, New York, May 15, 2003 - American Real Estate Partners, L.P. (NYSE:ACP) today reported the following first quarter financial results: For the first quarter of 2003, diluted earnings per weighted average limited partnership unit outstanding decreased from $.33 in 2002 to $.18 in 2003. Earnings decreased from $18,822,000 in the first quarter of 2002 to $10,483,000 in the first quarter of 2003 primarily due to decreased earnings from land, house and condominium operations, decreased equity in earnings of GB Holdings, Inc. and a write-down of equity securities. American Real Estate Partners, L.P. is a master limited partnership primarily engaged in acquiring and managing real estate investments with a primary focus on office, retail, industrial, hotel, gaming, and residential properties. 3 FOR IMMEDIATE RELEASE AMERICAN REAL ESTATE PARTNERS, L.P. REPORTS FIRST QUARTER RESULTS CONSOLIDATED RESULTS OF EARNINGS In thousands of dollars except per unit data
First quarter ended March 31, 2003 2002 - ----------------------------- ---- ---- (unaudited) Revenues $ 64,255 $ 78,419 ============ ============ Operating income $ 10,506 $ 17,183 Provision for loss on real estate (200) -- Write-down of equity securities (961) -- Gain on sales and disposition of real estate 1,138 1,639 ------------ ------------ Net earnings $ 10,483 $ 18,822 ============ ============ Net earnings per L.P. unit: Basic: Net earnings $ .20 $ .38 ============ ============ Weighted average units outstanding 46,098,284 46,098,284 ============ ============ Diluted: Net earnings $ .18 $ .33 ============ ============ Weighted average units and equivalent units outstanding 55,641,655 56,377,391 ============ ============
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