WOODBRIDGE, ON, Nov. 20, 2018 /CNW/ - Consolidated HCI Holdings
Corporation today announced its annual and fourth quarter results
for fiscal 2018.
|
3 months
ended
September
30
|
12 months
ended
September
30
|
|
2018
|
2017
|
2018
|
2017
|
|
($000's except
earnings per share)
|
|
|
|
|
|
|
|
|
|
|
Revenue
|
$20
|
$43
|
$79
|
$986
|
|
|
|
|
|
|
Net earnings
(loss)
|
$(111)
|
$(1,511)
|
$(328)
|
$670
|
|
|
|
|
|
|
Earnings (loss) per
share
|
$(0.006)
|
$(0.073)
|
$(0.016)
|
$0.033
|
Revenue in all of 2018 and the fourth quarter of 2017 includes
only interest income with no revenue from active business
operations since, as previously announced, the Company sold its two
remaining investment properties at the end of the third quarter of
2017 and wound up the last of its house building co-tenancies at
the end of the third quarter of 2018.
The net loss for 2018 includes foreign exchange gains of
$110 and $56 of cost recoveries from the Company's house
building co-tenancies which were wound up in the third quarter.
Net earnings for 2017 includes a fair value gain of $567 on the Company's last two remaining
investment properties referred to above and a $1,814 gain on the sale of a marketable security
investment.
The net loss in the fourth quarter of 2017 is reflective
of the absence of rental revenue, along with a 2017 fourth
quarter expense provision of $840 for
severance payments to the Company's remaining employees and a
$415 expense related to the write-off
of amounts receivable from the Company's house building joint
ventures.
Consolidated HCI Holdings Corporation is an Ontario-based company that trades on the TSX
Venture Exchange (NEX) under the symbol "CXA.H"
SOURCE Consolidated HCI Holdings Corporation