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SNI.PR.A Sonor Investments Ltd

5.15
0.00 (0.00%)
11 Dec 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Sonor Investments Ltd TSXV:SNI.PR.A TSX Venture Preference Share
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 5.15 5.15 5.72 0 20:29:22

Sonor Investments Limited Reports Third Quarter Financial Results

24/11/2010 3:06pm

Marketwired


Sonor Investments (TSXV:SNI.PR.A)
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Sonor Investments Limited (TSX VENTURE: SNI.PR.A) today reported its financial results for the nine months ended September 30, 2010.


                   9 months ended September 30  3 months ended September 30
                            2010          2009            2010         2009
                   $         000 $         000  $          000 $        000
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Revenue                    1,404            57           1,116         (245)

Net Income (loss)          1,030          (602)            959         (374)
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Michael Gardiner, President and Chief Executive Officer, stated that as at September 30, 2010 the Company's assets totaled $50.8 million. These assets included $12.2 million of marketable securities, $31.9 million in a private investment and $6.7 million of cash and cash equivalents.

During the nine months ended September 30, 2010, the Company realized net capital gains of $1,020,000 on the sale of investments. In the comparable period for 2009 there were net capital losses of $349,000 on the sale of investments together with an impairment write down of $345,000. During the three months ended September 30, 2010, Sonor realized net capital gains of $1,011,000 on the sale of investments compared to net capital losses of $335,000 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 Company has begun the implementation of its International Financial Reporting Standards ("IFRS") changeover plan required by financial regulators in Canada commencing January 1, 2011. It is not expected that the IFRS will materially impact the Company's operating results.

Sonor Investments Limited is an investment corporation located in Toronto, Canada. The First Preference Shares of Sonor trade on The TSX Venture Exchange under the symbol SNI.PR.A.

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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