Sonor Investments Limited Reports Third Quarter Financial Results
November 27 2012 - 9:03AM
Marketwired Canada
Sonor Investments Limited (TSX VENTURE:SNI.PR.A) today reported its financial
results for the nine months ended September 30, 2012.
9 months ended September 30 3 months ended September 30
2012 2011 2012 2011
$000 $000 $000 $000
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Revenue 1,227 1,314 124 959
Net Income (loss) 820 904 (33) 803
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Michael Gardiner, President and Chief Executive Officer, stated that as at
September 30, 2012 the Company's assets totaled $55.9 million. These assets
included $12.6 million of marketable securities, $35.6 million in a private
investment and $7.7million of cash and cash equivalents.
During the nine months ended September 30, 2012, the Company realized net
capital gains of $825,000 on the sale of investments. In the comparable period
for 2011 there were net capital gains of $869,000. During the three months ended
September 30, 2012, Sonor realized no capital gains or losses on the sale of
investments compared to net capital gains of $807,000 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, 2012 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
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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