Humboldt Capital Corporation
TSX VENTURE : HMB

Humboldt Capital Corporation

August 26, 2005 09:00 ET

Humboldt Reports Greatly Improved Financial Results for the Six Months Ended June 30, 2005 and a Net Asset Value of $4.52 Per Share

CALGARY, ALBERTA--(CCNMatthews - Aug. 26, 2005) - Humboldt Capital Corporation (TSX VENTURE:HMB) reported that for the six-month period ended June 30, 2005, earnings increased to total $6.9 million, or $0.56 per share compared with a restated loss of $3.8 million, or $0.31 per share for the same period in 2004. The restated loss in 2004 was the result of a reduction in the carrying value of investments in the first half of 2004, due to the adoption of a new accounting policy in 2004.

The Company also reported that its net asset value, after tax, increased by over 50% to total $56.8 million, or $4.52 per share compared with $37.2 million, or $3.01 per share at June 30, 2004.



Six Months Ended
June 30
-------------------------------
(Restated) (Restated)
(Thousands, except per share amounts) 2005 2004 2003
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Earnings (loss) $ 6,931 $ (3,800) $ 2,444
per share $ 0.56 $ (0.31) $ 0.19

Share capital $ 1,864 $ 1,847 $ 1,760
Retained earnings $ 54,904 $ 35,342 $ 28,453
Shareholders' equity $ 56,768 $ 37,189 $ 30,213

Shares outstanding 12,330 12,366 12,359
Net asset value, per share $ 4.52 $ 3.01 $ 2.43
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Forward-looking statements - statements included in this press release that are not historical facts may be considered "forward-looking statements." All estimates and statements that describe the Company's objectives, goals or future plans are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Humboldt Capital Corporation
    R.W. Lamond
    Chairman of the Board
    (403) 269-9889
    (403) 269-9890 (FAX)
    or
    Humboldt Capital Corporation
    C.A. Teare
    Executive Vice President
    (403) 269-9889
    (403) 269-9890 (FAX)
    Website: www.humboldtcapital.com