Sonor Investments Limited Reports Financial Results for the Year Ended December 31, 2007 and Three Months Ended March 31, 2008
02 Maio 2008 - 1:14PM
Marketwired Canada
Sonor Investments Limited (TSX VENTURE:SNI.PR.A) today reported its financial
results for the year ended December 31, 2007 and the three months ended March
31, 2008.
Year ended December 31 3 months ended March 31
2007 2006 2008 2007
$000 $000 $000 $000
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Revenue 5,234 4,991 375 661
Net Income (loss) 3,943 2,964 (62) 282
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Michael Gardiner, President and Chief Executive Officer, stated that as at March
31, 2008 the Company's assets totalled $61.6 million. These assets included
$15.2 million of marketable securities, $31.9 million in a private investment
and $13.1 million of cash and cash equivalents.
During the year ended December 31, 2007, the Company realized $406,000 in net
capital losses on the sale of investments compared to net capital losses of
$1,647,000 during the year ended December 31, 2006. During the three months
ended March 31, 2008, Sonor realized $137,000 in net capital losses on the sale
of investments compared to net capital losses of $284,000 during the
corresponding period of the previous year.
Most of the realized capital losses recorded in 2006 were a result of the
Corporation selling foreign currency-denominated investments whose value upon
conversion to Canadian dollars had eroded due to the strengthening of the
Canadian dollar from when the investments were first purchased.
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.
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