UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
Quarterly Report Under Section 13
or 15 (d) of the Securities
Exchange Act of 1934
--------------------------------
For the Quarter Ended
March 31, 1996 Commission File Number 0-19466
- --------------------- -------------------------------
DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
----------------------------------------
(Exact name of Registrant as specified in its charter)
Delaware 36-3684373
- -------------------- ---------------------------
State or other IRS Employer Identification
jurisdiction of Number
incorporation or
organization
1300 E. Woodfield Road, Suite 312 Schaumburg, Illinois 60173
- --------------------------------- --------------------------
Address of principal City, State, Zip Code
executive offices
Registrant's telephone number: (847) 240-6200
--------------------------
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.
(1) Yes x No
-- --
(2) Yes x No
-- --
<PAGE>
DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
----------------------------------------
FORM 10-Q
---------
FOR THE QUARTER ENDED MARCH 31, 1996
----------------------------------------
PART I - FINANCIAL INFORMATION
Item 1.
- -------
Index to Financial Statements
Balance Sheets
March 31, 1996 (unaudited)
December 31, 1995
Statements of Revenue and Expenses (unaudited)
For the three months ended March 31, 1996
For the three months ended March 31, 1995
Statements of Changes in Partners' Equity
For the three months ended March 31, 1996
(unaudited)
Statements of Cash Flows (unaudited)
For the three months ended March 31, 1996
For the three months ended March 31, 1995
Notes to Financial Statements (unaudited)
Item 2.
- -------
Management's Discussion and Analysis of
Financial Condition and Results of Operations
PART II - OTHER INFORMATION
Items 1-6.
- ----------
<PAGE>
DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
----------------------------------------
BALANCE SHEETS
--------------
March 31, 1996 - Unaudited
------------------------------------
Liquidating Continuing
Limited Limited
Partners Partners Total
----------- ----------- ----------
ASSETS
- ------
Cash and cash equivalents $1,243,278 $1,096,389 $2,339,667
Investments in commercial lease
paper, net 18,597 226,183 244,780
Installment contract receivable,
net 92,954 455,447 548,401
Net investment in direct
financing leases 136,237 9,401,607 9,537,844
Diverted and Other Assets, net 760,153 3,724,527 4,484,680
Restricted Cash 182,488 894,135 1,076,623
Organization and Acquisition
costs, net of accumulated
amortization 7,043 34,507 41,550
---------- ----------- -----------
$2,440,750 $15,832,795 $18,273,545
========== =========== ===========
LIABILITIES AND PARTNERS' EQUITY
- --------------------------------
Accounts payable and
accrued expenses $ 31,793 $ 190,658 $ 222,451
Lessee rental deposits 163,803 947,570 1,111,373
Due to Management Company 166 797 963
---------- ----------- -----------
Total liabilities 195,762 1,139,025 1,334,787
Total Partners' equity 2,244,988 14,693,770 16,938,758
---------- ----------- -----------
$2,440,750 $15,832,795 $18,273,545
========== =========== ===========
See accompanying notes to financial statements.
<PAGE>
DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
----------------------------------------
BALANCE SHEETS
--------------
By Class of Limited Partner
---------------------------
December 31, 1995
------------------------------------
Liquidating Continuing
Limited Limited
Partners Partners Total
---------- ------------ ----------
[S] [C] [C] [C]
ASSETS
- ------
Cash and cash equivalents $1,219,379 $ 2,056,790 $3,276,169
Investments in commercial lease
paper, net 22,024 261,396 283,420
Installment contract receivable,
net 109,334 535,706 645,040
Net investment in direct
financing leases 250,405 10,893,937 11,144,342
Diverted and Other Assets, net 760,153 3,724,527 4,484,680
Restricted Cash 182,488 894,135 1,076,623
Organization and Acquisition
costs, net of accumulated
amortization 25,620 125,528 151,148
---------- ----------- -----------
$2,569,403 $18,492,019 $21,061,422
========== =========== ===========
LIABILITIES AND PARTNERS' EQUITY
- --------------------------------
Accounts payable and
accrued expenses $ 46,708 $ 281,857 $ 328,565
Lessee rental deposits 173,802 996,494 1,170,296
Due to Management Company 64 28,530 28,594
---------- ----------- -----------
Total liabilities 220,574 1,306,881 1,527,455
Total Partners' equity 2,348,829 17,185,138 19,533,967
---------- ----------- -----------
$2,569,403 $18,492,019 $21,061,422
========== =========== ===========
See accompanying notes to financial statements.
<PAGE>
DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
----------------------------------------
STATEMENTS OF REVENUE AND EXPENSES
----------------------------------
For the three months ended March 31, 1996
-----------------------------------------
(Unaudited)
Liquidating Continuing
Limited Limited
Partners Partners Total
---------- ----------- ----------
Revenue:
Lease income $ 10,851 $ 388,116 $ 398,967
Interest income 8,896 55,578 64,474
--------- ---------- ----------
19,747 443,694 463,441
========= ========== ==========
Expenses:
Amortization of organization
and equipment acquisition costs 18,577 91,021 109,598
Management fees-New Era 47,365 387,482 434,847
General Partner's
expense reimbursement 30,973 151,759 182,732
Professional fees 22,501 113,265 135,766
Other operating expenses 4,172 34,043 38,215
--------- ---------- ----------
123,588 777,570 901,158
--------- ---------- ----------
Net loss $(103,841) $ (333,876) $ (437,717)
========= ========== ==========
Net loss -
General Partner $ (1,038) $ (3,339) $ (4,377)
========= ========== ==========
Net loss -
Limited Partners $(102,803) $ (330,537) $(433,340)
========= ========== ==========
Net loss per Limited
Partnership Unit $(3.04) $ (1.99)
====== =======
Weighted average number
of Limited Partnership Units
outstanding 33,858 165,901
====== =======
[FN]
See accompanying notes to financial statements.
<PAGE>
DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
----------------------------------------
STATEMENTS OF REVENUE AND EXPENSES
----------------------------------
For the three months ended March 31, 1995
-----------------------------------------
(Unaudited)
Liquidating Continuing
Limited Limited
Partners Partners Total
---------- ---------- ---------
Revenue:
Lease income $ 55,754 $ 733,644 $ 789,398
Interest income 12,630 79,611 92,241
--------- ---------- ----------
68,384 813,255 881,639
--------- ---------- ----------
Expenses:
Amortization of organization
and equipment acquisition costs 51,676 253,199 304,875
Management fees-New Era 53,859 531,240 585,099
General Partner's
expense reimbursement 10,800 52,915 63,715
Professional fees 19,671 97,645 117,316
Other operating expenses 9,459 56,037 65,496
--------- ---------- ----------
145,465 991,036 1,136,501
--------- ---------- ----------
Net loss $(77,081) $(177,781) $ (254,862)
========= ========== ==========
Net loss -
General Partner $ (771) $ (1,778) $ (2,549)
========= ========== ==========
Net loss -
Limited Partners $(76,310) $(176,003) $(252,313)
========= ========== ==========
Net loss per Limited
Partnership Unit $(2.25) $ (1.06)
====== =======
Weighted average number
of Limited Partnership Units
outstanding 33,858 165,901
====== =======
[FN]
See accompanying notes to financial statements.
<PAGE>
<TABLE>
DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
----------------------------------------
STATEMENT OF CHANGES IN PARTNERS' EQUITY
----------------------------------------
(Unaudited)
<CAPTION>
Liquidating Continuing
General Limited Limited Total
Partner's Partners' Partners' Partners'
Equity Equity Equity Equity
----------- ---------- ---------- -----------
<S> <C> <C> <C> <C>
Balance, December 31, 1995 $(668,826)* $2,419,615 $17,783,178 $19,533,967
Distributions to partners
(Note 3) (14,374) - (2,143,118) (2,157,492)
Net loss (4,377) (102,803) (330,537) (437,717)
Allocation of General
Partner's Equity 687,577 (71,824) (615,753) -
--------- ---------- ----------- ----------
Balance, March 31, 1996 $ - $2,244,988 $14,693,770 $16,938,758
========= ========== =========== ===========
<FN>
* Balance as previously reported was $0 due to allocation of
$70,786 and $598,040 to Liquidating and Continuing Limited
Partners' Equity, respectively.
<FN>
See accompanying notes to financial statements.
</TABLE>
<PAGE>
<TABLE>
DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
----------------------------------------
STATEMENTS OF CASH FLOWS
------------------------
For the three months ended March 31, 1996
---------------------------------------------
(Unaudited)
<CAPTION>
Liquidating Continuing
Limited Limited
Partners Partners Total
-------- -------- -------------
<S> <C> <C> <C>
Cash flows from operating activities:
Net loss $ (103,841) $ (333,876) $ (437,717)
Adjustments to reconcile net loss
to net cash used in operating
activities:
Amortization expense 18,577 91,021 109,598
Changes in assets and liabilities:
Accounts payable and accrued
expenses (14,915) (91,199) (106,114)
Lessee rental deposits (9,999) (48,924) (58,923)
Due to Management Company 102 (27,733) (27,631)
---------- ----------- ------------
(110,076) (410,711) (520,787)
---------- ----------- ------------
Cash flows from investing activities:
Purchases of lease receivables - (919,590) (919,590)
Principal collections on leases 114,168 1,479,989 1,594,157
Sale of leases (Note 4) - 931,931 931,931
Repayments of commercial lease paper 3,427 35,213 38,640
Principal collections on
installment contract receivable 16,380 80,259 96,639
---------- ----------- ------------
133,975 1,607,802 1,741,777
---------- ----------- ------------
Cash flows from financing activities:
Distributions to limited partners (a) - (2,143,118) (2,143,118)
Distributions to General Partner - (14,374) (14,374)
---------- ----------- -----------
- (2,157,492) (2,157,492)
---------- ----------- ------------
Net increase (decrease) in
cash and cash equivalents 23,899 (960,401) (936,502)
Cash and cash equivalents:
Beginning of year 1,219,379 2,056,790 3,276,169
---------- ----------- -----------
End of first quarter $1,243,278 $ 1,096,389 $ 2,339,667
========== =========== ===========
<FN>
(a)Distributions during the period were $0 per unit for Liquidating Limited Partners and $12.92
per unit for Continuing Limited Partners.
<FN>
See accompanying notes to financial statements.
</TABLE>
<TABLE>
DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
----------------------------------------
STATEMENTS OF CASH FLOWS
------------------------
For the three months ended March 31, 1995
-----------------------------------------
(Unaudited)
<CAPTION>
Liquidating Continuing
Limited Limited
Partners Partners Total
----------- ------------ ------------
<S> <C> <C> <C>
Cash flows from operating activities:
Net loss $ (77,081) $ (177,781) $ (254,862)
Adjustments to reconcile net loss
to net cash provided by (used in)
operating activities:
Amortization expense 51,676 253,199 304,875
Changes in assets and liabilities:
Accounts payable and accrued
expenses (15,113) (96,835) (111,948)
Lessee rental deposits (5,694) 13,670 7,976
Due to Management Company 762 16,315 17,077
----------- ------------ ------------
(45,450) 8,568 (36,882)
=========== ============ ============
Cash flows from investing activities:
Purchases of lease receivables - (2,736,926) (2,736,926)
Principal collections on leases 318,894 3,011,707 3,330,601
Sales of leases (Note 4) 14,439 200,163 214,602
Diverted and Other Assets, net 281,237 1,377,980 1,659,217
Datronic Assets 22,781 111,621 134,402
Repayments of commercial lease paper 3,595 65,641 69,236
Principal collections on
installment contracts receivable 18,710 91,674 110,384
----------- ------------ ------------
659,656 2,121,860 2,781,516
----------- ------------ ------------
Cash flows from financing activities:
Distributions to limited partners (a) (149,991) (2,562,413) (2,712,404)
Distributions to General Partner (5,077) (81,074) (86,151)
----------- ------------ ------------
(155,068) (2,643,487) (2,798,555)
----------- ------------ ------------
Net increase (decrease) in cash
and cash equivalents 459,138 (513,059) (53,921)
Cash and cash equivalents:
Beginning of year 941,564 4,416,807 5,358,371
----------- ------------ ------------
End of first quarter $1,400,702 $ 3,903,748 $ 5,304,450
========== =========== ============
<FN>
(a)Distributions during the period were $4.43 per unit for
Liquidating Limited Partners and $15.45
per unit for Continuing Limited Partners.
<FN>
See accompanying notes to financial statements.
</TABLE>
<PAGE>
DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
----------------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
March 31, 1996
--------------
(Unaudited)
NOTE 1 - ORGANIZATION:
- ----------------------
Datronic Equipment Income Fund XIX, L.P., a Delaware Limited
Partnership (the "Partnership"), was formed on December 22, 1989
for the purpose of acquiring and leasing both high-and
low-technology equipment. Reference is made to Notes 4, 6, 7 and
8 to the Partnership's financial statements included in the 1995
Form 10-K for a discussion of the alleged diversion of Partnership
assets in 1991 and 1992 and the subsequent litigation and
settlement, change in general partner, new classes of limited
partners established and amendments to the Partnership Agreement
which occurred.
NOTE 2 - BASIS OF FINANCIAL STATEMENTS:
- ---------------------------------------
The accompanying financial statements should be read in conjunction
with the Partnership's financial statements included in the 1995
Form 10-K. The financial information furnished herein is unaudited
but in the opinion of Management includes all adjustments necessary
(all of which are normal recurring adjustments) for a fair
presentation of financial condition and results of operations. See
Note 3 to the Partnership's financial statements included in the
1995 Form 10-K.
Effective January 1, 1996 the Partnership adopted SFAS 121,
"Accounting for the Impairment of Long-Lived Assets and for Long-
Lived Assets to Be Disposed Of." The adoption of SFAS 121 had no
effect on the Partnership's financial position or net loss.
NOTE 3 - PARTNERS' EQUITY AND PARTNERSHIP DISTRIBUTIONS:
- --------------------------------------------------------
Distributions to Liquidating Limited Partners were suspended after
payment of the October 1, 1995 distribution. Distributions to
Continuing Limited Partners were reduced to an annual rate of 9%
effective with the February 1, 1996 distribution.
NOTE 4 - LEASE PORTFOLIO SALES:
- -------------------------------
During the three months ended March 31, 1996, the Partnership and
Datronic Equipment Income Fund XX, L.P. each entered into separate
lease purchase agreements with Linc Anthem Corporation to sell
equipment leases at a discount rate of 11.75% which resulted in
aggregate net proceeds of approximately $1.5 million. The
Partnership's proceeds were approximately $932,000. Of this
amount, all was allocable to Continuing Limited Partners and
approximately $920,000 has been invested in new leases.
During the three months ended March 31, 1995, the Partnership,
Datronic Equipment Income Fund XVIII, L.P., Datronic Equipment
Income Fund XX, L.P., and Datronic Finance Income Fund I, L.P. each
entered into separate lease purchase agreements with Southern
Pacific Thrift & Loan Association to sell equipment leases at
discount rates ranging from 10.75% to 11% which resulted in
aggregate proceeds of approximately $2.6 million. The
Partnership's proceeds were approximately $215,000. Of this
amount, approximately $200,000 was allocable to Continuing Limited
Partners and has been invested in new leases.
NOTE 5 - SUBSEQUENT EVENT:
- --------------------------
On April 29, 1996, the United States District Court for the
Northern District of Illinois entered an order removing any claim
that one of the defendants in the class action litigation might
have had against the Partnership's Restricted Cash and Diverted and
Other Assets. See Notes 4, 5 and 6 to the Partnership's financial
statements included in the 1995 Form 10-K for a discussion of this
matter. Pursuant to the terms of the order, approximately $725,000
of Recovered Assets (the Partnership's interest therein is
approximately $398,000 and is included in Diverted and Other
Assets) will be held in escrow for the potential benefit of the
defendant pending the outcome of certain other Partnership
litigation. If the assets are ultimately transferred to the
defendant, the impact on the Partnership's financial position is
not expected to be material.
PART I
- ------
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
- ----------------------------------------------------------
The following discussion and analysis of liquidity and capital
resources covers material changes in the Partnership's financial
condition from December 31, 1995 through March 31, 1996. The
discussion and analysis of results of operations is for the three
month period ended March 31, 1996 as compared to the corresponding
period in 1995.
Financial Condition, Liquidity and Capital Resources
- ----------------------------------------------------
During the three months ended March 31, 1996, Partnership assets
continued to be converted to cash in order to, generally, pay
Partnership operating expenses, acquire new leases for the
Continuing Limited Partners and make distributions to the
Continuing Limited Partners and General Partner.
Investment in commercial lease paper, net and installment contract
receivable, net decreased an aggregate of approximately $135,000
during the three months ended March 31, 1996 due to scheduled
principal collections.
Net investment in direct financing leases decreased approximately
$1,606,000 during the three months ended March 31, 1996. This
decrease is primarily attributable to principal collections of
approximately $1,594,000 and sales of leases in the amount of
approximately $932,000 (see Note 4 to the financial statements
included in Item 1) partially offset by investments in new leases
for the Continuing Limited Partners of approximately $920,000.
Accounts payable and accrued expenses decreased approximately
$106,000 during the three months ended March 31, 1996 primarily due
to payment of accrued legal fees and sales and use taxes.
Lessee rental deposits decreased approximately $59,000 for the
three months ended March 31, 1996 due to the declining lease
portfolio.
In the aggregate, partners' equity decreased approximately $2.6
million during the three months ended March 31, 1996 due to a net
loss of approximately $438,000 and distributions to Continuing
Limited Partners and the General Partner of approximately
$2,157,000.
During the three months ended March 31, 1996, the Partnership's
operating activities resulted in a use of $520,787 of cash. This
was due principally to a net loss of $437,717 and decreases in
accounts payable, accrued expenses and security deposits of
$165,037 reduced by a non-cash expense relating to amortization of
$109,598. During the period, cash flows from investing activities
aggregated $1,741,777 relating principally to principal collections
on leases of $1,594,157, sales of leases of $931,931 net of
purchases of lease receivables for the benefit of the Continuing
Limited Partners of $919,590. Cash flows used for financing
activities of $2,157,492, consisted of distributions to Continuing
Limited Partners of $2,143,118 and the general partner of $14,374.
The Partnership's principal sources of liquidity on both a
long-term and short-term basis are cash and Restricted Cash and
receipts under leases, commercial lease paper and an installment
contract receivable. In addition, the Partnership's sources of
liquidity on a long-term basis are expected to include proceeds
from the sale of Diverted and Other Assets and portions of the
Partnership's lease portfolio which may be sold in bulk.
Management believes that its sources of liquidity in the short and
long-term are sufficient to meet its operating cash obligations.
Distributions to Liquidating Limited Partners were suspended after
the October 1, 1995 distribution and distributions to the
Continuing Limited Partners were reduced to an annual rate of 9%
effective with the February 1, 1996 distribution. Distributions to
the Liquidating Limited Partners were suspended and distributions
to the Continuing Limited Partners were reduced to ensure that
sufficient cash will be available to pursue recoveries under
pending litigation with the Partnership's former accountants and to
liquidate the Partnership in an orderly manner.
Management expects sources of future liquidity to include proceeds
from the sale or disposition of other Partnership assets. In this
regard, the Partnership has Diverted and Other Assets (net) of
$4,484,680 of which, approximately $398,000 may be used to settle
the claims of a defendant of the Class Action Complaint (see Note
5 to the financial statements included in item 1).
The continued operation and eventual liquidation of the Partnership
involves numerous complex issues which have to be resolved. These
issues relate to the timing and realizability of lease-related
assets, Diverted and Other Assets, Datronic assets, litigation and
the liquidation of the other Datronic Partnerships (see Notes 4, 6
and 9 to the financial statements included in the 1995 Form 10-K).
These issues make it difficult to predict the time and costs
necessary to operate and liquidate the Partnership in an orderly
manner. As a result of these uncertainties, it is not possible to
predict the timing and availability of cash for future
distributions to Limited Partners. However, it is likely that the
amount of future distributions, if any, to the Limited Partners
will ultimately be significantly less than the amount of Partner's
Equity reflected in the March 31, 1996 Balance Sheets (see
financial statements included in Item 1).
The provisions of the Amended Partnership Agreement require the
Partnership to enter its liquidating phase on August 31, 1996.
Reinvestment activity is prohibited during the liquidating phase
and in any period in which full target distributions have hot been
paid.
Results of Operations
- ---------------------
Lease income decreased approximately $390,000 for the three month
period ended March 31, 1996 as compared to the corresponding period
in 1995 primarily due to declining lease portfolios.
Management fees-New Era represent amounts paid New Era for
managing the Partnership on a day-to-day basis and for acquiring
leases for the Continuing Limited Partners. These fees amounted to
approximately $435,000 for the three months ended March 31, 1996 as
compared to $585,000 for the same period in 1995. See Note 8 to
the Partnership's financial statements included in the 1995 Form
10-K.
The General Partner's expense reimbursement represents the amount
paid to LRC in excess of LRC's 1% share of cash flow available for
distribution. Total amounts paid to LRC are primarily a function
of the amount of time LRC spends on the activities of the
Partnership and the timing of certain LRC expenses. Total amounts
paid to LRC for the three months ended March 31, 1996 were
approximately $197,000 ($183,000 representing the General Partner's
expense reimbursement and $14,000 representing LRC's 1% cash flow
available for distribution) as compared to approximately $150,000
($64,000 representing the General Partner's expense reimbursement
and $86,000 representing LRC's 1% of cash flow available for
distribution) for the three months ended March 31, 1995.
Amortization of organization and equipment acquisition costs
decreased approximately $195,000 due to the substantial completion
of the amortization of these costs.
PART II - OTHER INFORMATION
- ---------------------------
ITEM 1. LEGAL PROCEEDINGS
- --------------------------
Reference is made to Item 3 - Legal Proceedings in the
Partnership's December 31, 1995 Form 10-K, as amended, for a
discussion of material legal proceedings involving the Partnership.
Reference is made to Part I, Item 1, Note 5 for a discussion of legal
proceedings involving claims against Restricted Cash and Diverted and
Other Assets.
ITEM 2. CHANGES IN SECURITIES
- ------------------------------
None.
ITEM 3.
- -------
Not applicable.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
- ------------------------------------------------------------
None.
ITEM 5. OTHER INFORMATION
- --------------------------
Not applicable.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
- -----------------------------------------
(a) Exhibits
- -------------
See Exhibit Index.
(b) Reports on Form 8-K
- ------------------------
None.
<PAGE>
SIGNATURES
----------
Pursuant to the requirements of the Securities Act of 1934, the
Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized, on the 9th day of May
1996.
DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
Registrant
By: DONALD D. TORISKY
Donald D. Torisky
Chairman and Chief Executive Officer
Lease Resolution Corporation
General Partner of
Datronic Equipment Income Fund XIX, L.P.
By: DOUGLAS E. VAN SCOY
Douglas E. Van Scoy
Chief Financial Officer and Director
New Era Funding Corp.
Managing Agent of
Datronic Equipment Income Fund XIX, L.P.
<PAGE>
EXHIBIT INDEX
-------------
EXHIBIT NO. DESCRIPTION
- ----------- -----------
27 Financial Data Schedule, which is
submitted electronically to the
Securities and Exchange Commission
for information only and not filed.
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the Balance
Sheet and the Statements of Revenue and Expenses and is qualifed in its entirety
by reference to such Report on Form 10-Q.
</LEGEND>
<CIK> 0000859072
<NAME> DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> MAR-31-1996
<CASH> 2,339,667
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 18,273,545
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 16,938,758
<TOTAL-LIABILITY-AND-EQUITY> 18,273,545
<SALES> 0
<TOTAL-REVENUES> 463,441
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 38,215
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (437,717)
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
