Royal Oak Announces 2011 Results
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/25/12 -- Royal Oak Ventures Inc. ("Royal Oak" or the "company") recorded a comprehensive loss of $1.3 million for the year ended December 31, 2011 compared to comprehensive income of $5.5 million in the prior year. The current year comprehensive loss consisted of net loss of $0.6 million (2010 - net income of $5.8 million) and other comprehensive loss of $0.6 million (2010 - $0.3 million) which was primarily the result of a $0.7 million unrealized loss on the company's marketable securities which are recorded at fair value in other comprehensive income, and other investment losses of $1.0 million in net income.
The company reported a net loss of $0.6 million or $nil per common share for the year ended December 31, 2011 compared to net income of $5.8 million or $0.04 per common share in 2010. Net loss in the current year included an impairment of $1.0 million (2010 - $2.1 million) on certain of the securities in the portfolio. Net income in the prior year included a $4.9 million disposition gain as well as a $1.7 million special distribution received on one of the portfolio investments.
The company recorded a pre-tax unrealized loss of $0.7 million in other comprehensive loss in the current year (2010 - $0.3 million), as a result of a decrease in the fair value of the company's marketable securities portfolio.
The company is seeking approval of the listing application for its common voting and non-voting shares. Pending approval, the company's common voting and non-voting shares will be relisted and admitted to trading.
Contacts:
Royal Oak Ventures Inc.
Derek E. Gorgi
Vice-President Finance
(416) 363-9491
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Datum: 25.04.2012 - 12:20 Uhr
Sprache: Deutsch
News-ID 1107217
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