Manitou Capital Corporation
TSX VENTURE : MOU

Manitou Capital Corporation

March 27, 2007 16:05 ET

Manitou Capital Announces Improved Results for the Three Months and Year Ended December 31, 2006

TORONTO, ONTARIO--(CCNMatthews - March 27, 2007) - Manitou Capital Corporation (Manitou)(TSX VENTURE:MOU) today announced its results for the year ended December 31, 2006.

Revenue was $2,701,770 as compared to $2,492,025 for the year ended December 31, 2005 - an increase of 8.4%.

In the year ended December 31, 2006 Manitou had a loss of $59,495 or $0.004 per share as compared to a loss of $100,150 ($0.007 per share) in 2005. The 2006 loss includes hiring and severance costs of $331,019 and the 2005 loss includes hiring costs of $192,981. Absent the hiring and severance costs, Manitou's earnings after minority interest and gain on dilution would have been $144,711 for the year ended December 31, 2006 and $18,900 for the year ended December 31, 2005.

For the three months ended December 31, 2006 Manitou had earnings of $69,973 ($0.005 per share) as compared to a loss of $137,207 ($0.010 per share) for the three months ended December 31, 2005.

For more information, including the audited December 31, 2006 financial statements, and management discussion and analysis, please see our letter to shareholders and proxy information material dated March 26, 2007 posted on Manitou's website at www.manitoucapital.com.

Manitou shares are listed for trading on the TSX Venture Exchange under the symbol MOU.



MANITOU CAPITAL CORPORATION

Three Months Three Months
Ended Ended
Dec. 31, 2006 Dec. 31, 2005
------------- --------------

Revenue $629,346 $639,484

Earnings (Loss) $69,973 $(137,207)

Earnings (Loss) per share $0.005 ($0.010)


MANITOU CAPITAL CORPORATION

Year Year
Ended Ended
Dec. 31, 2006 Dec. 31, 2005
-------------- --------------

Revenue $2,701,770 $2,492,052

(Loss) $(59,945) $(100,150)

(Loss) per share $(0.004) $(0.007)


The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • Manitou Capital Corporation
    Deborah O'Reilly
    Chief Financial Officer
    (416) 628-6523
    Website: www.manitoucapital.com