Sonor Investments Limited
TSX VENTURE : SNI.PR.A

November 24, 2009 11:26 ET

Sonor Investments Limited Reports Third Quarter Financial Results

TORONTO, ONTARIO--(Marketwire - Nov. 24, 2009) - Sonor Investments Limited today reported its financial results for the nine months ended September 30, 2009.

 9 months ended September 303 months ended September 30
     
 2009200820092008
 $000$000$000$000
     
Revenue40679290186
     
     
Net loss for the period60260374258
     

 

Michael Gardiner, President and Chief Executive Officer, stated that as at September 30, 2009 the Company's assets totaled $47.5 million. These assets included $9.8 million of marketable securities, $31.9 million in a private investment, $0.7 million in Canadian asset-backed commercial paper (ABCP) and $5.1 million of cash and cash equivalents. There was a significant improvement in the Canadian stock markets during the quarter and as a result the market value of investments increased by $1,511,000 during the three months ended September 30, 2009 ($3,606,000 improvement during the nine months ended September 30, 2009).

Year to date revenue has declined from the previous year due to lower dividend and interest income. These decreases have resulted from a reduction in dividend earning investments and a sharp decrease in interest rates on short term investments.

During the nine months ended September 30, 2009, the Company realized $349,000 in net capital losses on the sale of investments compared to net capital losses of $75,000 during the nine months ended September 30, 2008. During the three months ended September 30, 2009, Sonor realized net capital losses on the sale of investments of $335,000 compared to a net capital loss of $20,000 during the corresponding period of the previous year. 

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.

Contact Information

  • Sonor Investments Limited
    Mr. Michael Gardiner
    President and CEO
    (416) 369-1499
    or
    Sonor Investments Limited
    Mr. Stephen Mills
    Treasurer & CFO
    (416) 369-1499