Sonor Investments Limited Reports Third Quarter Financial Results
November 28 2011 - 3:20PM
Marketwired
Sonor Investments Limited (TSX VENTURE:SNI.PR.A) today reported its
financial results for the nine months ended September 30, 2011.
9 months ended September 30 3 months ended September 30
2011 2010 2011 2010
$000 $000 $000 $000
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Revenue 1,314 1,404 959 1,116
Net Income
(loss) 904 1,030 803 959
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Michael Gardiner, President and Chief Executive Officer, stated
that as at September 30, 2011 the Company's assets totaled $55.2
million. These assets included $15.3 million of marketable
securities, $35.6 million in a private investment and $4.3 million
of cash and cash equivalents.
During the nine months ended September 30, 2011, the Company
realized net capital gains of $869,000 on the sale of investments.
In the comparable period for 2010 there were net capital gains of
$1,020,000. During the three months ended September 30, 2011, Sonor
realized net capital gains of $807,000 on the sale of investments
compared to net capital gains of $1,011,000 during the
corresponding period of the previous year.
During the period under review, the Company has maintained net
assets and qualified investments in excess of the amounts
prescribed under the share conditions pertaining to the First
Preference Shares in its capital stock.
The financial statements for the periods ending September 30,
2011 incorporate the International Financial Reporting Standards
("IFRS") required by financial regulators in Canada commencing
January 1, 2011. This transition to IFRS has little impact on the
Company's operating results.
Sonor Investments Limited is an investment company located in
Toronto, Canada. The First Preference Shares of Sonor trade on The
TSX Venture Exchange under the symbol SNI.PR.A.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Sonor Investments Limited Mr. Michael Gardiner
President and CEO (416) 369-1499 Sonor Investments Limited Mr.
Stephen Mills Treasurer & CFO (416) 369-1499
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