Sonor Investments Limited
TSX VENTURE : SNI.PR.A

November 19, 2007 16:12 ET

Sonor Investments Limited Reports Third Quarter Financial Results

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2007) - Sonor Investments Limited (TSX VENTURE:SNI.PR.A) today reported its financial results for the nine months ended September 30, 2007.



9 months ended 3 months ended
September 30 September 30

2007 2006 2007 2006
$000 $000 $000 $000
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Revenue 1,023 (772) 227 743

Net Income (loss) for the period 535 (1,088) (132) 558
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Michael Gardiner, President and Chief Executive Officer, stated that as at September 30, 2007 the Company's assets totaled $64.8 million. These assets included $23.2 million of marketable securities, $31.9 million in a private investment, $1.5 million in Canadian asset-backed commercial paper (ABCP) and $8.1 million of cash and cash equivalents.

During the nine months ended September 30, 2007, the Company realized $433,000 in net capital losses on the sale of investments compared to net capital losses of $2,041,000 during the nine months ended September 30, 2006. During the three months ended September 30, 2007, Sonor realized capital losses on the sale of investments of 149,000 compared to a net capital gain of $11,000 during the corresponding period of the previous year. As a result of liquidity uncertainties in the ABCP market, the Company recorded a write-down of $228,000 on these assets in the most recent quarter.

Most of the realized capital losses 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 Canadian dollar.

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
    (416) 369-0280 (FAX)
    or
    Sonor Investments Limited
    Mr. Stephen Mills
    Treasurer & CFO
    (416) 369-1499
    (416) 369-0280 (FAX)