Manitou Capital Corporation
TSX VENTURE : MOU

Manitou Capital Corporation

August 15, 2007 16:01 ET

Manitou Capital Announces Increased Earnings for the Six Months and Three Months Ended June 30, 2007

TORONTO, ONTARIO--(Marketwire - Aug. 15, 2007) - Manitou Capital Corporation (Manitou)(TSX VENTURE:MOU) today announced its results for the six months ended June 30, 2007.

Manitou had earnings of $82,475 ($0.0058 per share) for the six months ended June 30, 2007, as compared to a loss of $187,947 ($0.0131 per share) for the six months ended June 30, 2006. The loss for the earlier six month period includes hiring expenses of $156,000 and severance costs of $167,000. Absent the hiring and severance costs Manitou would have had a profit after minority interest for the six months ended June 30, 2006 of $11,300.

For the three months ended June 30, 2007 Manitou had earnings of $50,221 ($0.0035 per share) as compared to a loss of $112,946 ($0.0079 per share) for the three months ended June 30, 2006. The loss for the earlier three month period includes hiring and severance costs of $219,000. Without these costs Manitou would have had earnings after minority interest of $22,116 ($0.0015 per share) for the three months ended June 30, 2006.

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



MANITOU CAPITAL CORPORATION
FINANCIAL HIGHLIGHTS

Three Months Three Months
Ended Ended
June 30, 2007 June 30, 2006
------------- --------------

Revenue $620,211 $695,442

Earnings/(Loss) $50,221 $(112,946)

Earnings/(Loss) per share $0.0035 $(0.0079)



MANITOU CAPITAL CORPORATION

Six Months Six Months
Ended Ended
June 30, 2007 June 30, 2006
------------- --------------

Revenue $1,221,169 $1,383,898

Earnings/(Loss) $82,457 $(187,947)

Earnings/(Loss) per share $0.0058 $(0.0131)


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