Brookfield Investments Corporation Announces Third Quarter 2014 Financial Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/26/14 -- Brookfield Investments Corporation (the "company") (TSX VENTURE: BRN.PR.A) reported net loss of $6 million or $0.13 per common share for the three months ended September 30, 2014 compared with income of $69 million or $1.38 per common share for the same period in 2013. The decrease in net income relative to the prior period was due to a large amount of disposition gains recorded in the prior year quarter and the recognition of unfavourable foreign currency revaluation in the current quarter. Net income in the prior year included $52 million of disposition gains on the sale of two investments whereas the current quarter included a $3 million realized disposition loss. In addition, the company recorded $16 million of unrealized foreign currency losses in the current quarter, due to negative foreign currency revaluation of non U.S. dollar investments. Net income on a nine-month basis was $110 million in the current year and $217 million in the prior year or $2.20 and $4.35 per share, respectively.
Comprehensive income, which consists of net loss and other comprehensive income, was a loss of $42 million for the three months ended September 30, 2014 compared to income of $21 million in the same period of 2013. Other comprehensive loss was $36 million during the quarter, compared to $48 million in the third quarter of 2013. The current period reflects unfavourable market performance of the company''s investment portfolio relative to the prior year.
Brookfield Investments Corporation holds investments in the property and forest products sectors, as well as a portfolio of preferred shares issued by companies within the Brookfield group. The common shares of Brookfield Investments Corporation are wholly owned by Brookfield Asset Management Inc. Brookfield Asset Management Inc. is a global alternative asset manager with approximately $200 billion in assets under management, has over 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and BAM.A, respectively.
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED STATEMENTS OF OPERATIONS
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
Contacts:
Brookfield Investments Corporation
Derek Gorgi
Vice President and Chief Financial Officer
416-363-9491
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Datum: 26.11.2014 - 16:48 Uhr
Sprache: Deutsch
News-ID 1321483
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Commercial Real Estate
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