Humboldt Capital Corporation
TSX VENTURE : HMB

Humboldt Capital Corporation

April 17, 2012 09:00 ET

Humboldt Reports Results for the Year Ended December 31, 2011

CALGARY, ALBERTA--(Marketwire - April 17, 2012) - Humboldt Capital Corporation (TSX VENTURE:HMB)

Humboldt's net asset value at December 31, 2011 totaled $44.1 million, or $3.64 per share, compared with $62.6 million, and $5.01 per share a year earlier. In 2011 Humboldt realized a gain of $3.2 million on the sale of investments, compared with a gain of $3.4 million a year earlier. The gain was offset by a $22.4 million unrealized decrease in the value of investments held at December 31, 2011, compared with an unrealized increase of $16.2 million in 2010. Humboldt reported a loss of $18.5 million, or $1.54 per share for 2011, compared with earnings of $16.0 million for 2010.

Humboldt Financial Statements and Management's Discussion and Analysis for the year ended December 31, 2011 have been filed on SEDAR and can be found on Humboldt's website at www.humboldtcapital.com

HIGHLIGHTS
Year ended December 31,
(Thousands, except per share amounts) 2011 2010 2009
Net gain (loss) on sale of investments $ 3,198 $ 3,485 $ (2,364 )
Unrealized increase (decrease) in investment value $ (22,421 ) $ 16,195 $ 19,917
Earnings (loss) and comprehensive earnings (loss) for the year $ (18,488 ) $ 15,967 $ 16,199
Earnings (loss) per share, diluted $ (1.54 ) $ 1.32 $ 1.33
Eligible Dividends paid $ - $ - $ 3,042
Dividends per share $ - $ - $ 0.25
Share capital $ 2,064 $ 2,015 $ 2,033
Retained earnings $ 41,476 $ 59,964 $ 43,997
Shareholders' equity $ 44,123 $ 62,605 $ 46,694
Cash and cash equivalents $ 2,125 $ 6,497 $ 10,376
Shares outstanding 11,957 12,008 12,115
Net asset value per share, diluted $ 3.64 $ 5.01 $ 3.77

Forward-looking statements - the press release today contains "forward-looking" information. Actual results could differ materially from the conclusions, forecasts or projections in the forward-looking information. Certain material factors and assumptions were applied in drawing the conclusions or making the forecasts or projections as reflected in the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied in drawing the conclusion or making the forecast or projection as reflected in the forward- looking information is contained in the press release.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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)

    Humboldt Capital Corporation
    C.A. (Tony) Teare
    Executive Vice President
    (403) 269-9889
    (403) 269-9890 (FAX)