Madison Pacific Properties Inc.
TSX : MPC

November 09, 2007 14:33 ET

Madison Pacific Properties Inc. Announces Third Quarter Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2007) - Madison Pacific Properties Inc. (TSX:MPC), a Vancouver-based real estate company, announces the results of operations for the 9 months ended September 30, 2007.

The Company is reporting net income from continuing operations before provision for income taxes of $1,261,000 for the third quarter 2007 compared to $1,241,000 for the third quarter 2006. Cash flow from operations before changes in non-cash working capital for the third quarter 2007 is $2,078,000 compared to $1,744,000 for the third quarter 2006. Earnings per share from continuing operations were $0.02 per share for the third quarter 2007 compared to $0.04 per share for the third quarter 2006 which included an $835,000 recovery of non-cash future income taxes.

The Company owns 34 properties in the Lower Mainland area of B.C. comprising over 1,538,000 rentable sq. ft. of commercial and industrial space of which 97.0% is leased.

Contact Information

  • Madison Pacific Properties Inc.
    Mr. Alan Firth
    President
    (604) 732-6540
    or
    Madison Pacific Properties Inc.
    Mr. Thor Olsen
    Chief Financial Officer
    (604) 732-6540
    (604) 732-6550 (FAX)
    Website: www.madisonpacific.ca