MICC Investments Limited

March 18, 2005 17:06 ET

MICC Investments Limited Announces 2004 Year End Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MICC INVESTMENTS LIMITED

MARCH 18, 2005 - 17:06 ET

MICC Investments Limited Announces 2004 Year End
Results

TORONTO, ONTARIO--(CCNMatthews - March 18, 2005) - MICC Investments
Limited (the "Company") announced consolidated net income of $16.6
million for the year ended December 31, 2004 compared with consolidated
net income of $3.3 million for 2003. The 2004 results included gains on
the realization of investment positions of $9.7 million, compared to nil
in 2003. Net income per common share for the period ended December 31,
2004 after preference share dividends was $0.202, compared to a loss of
$0.001 per common share in 2003.



MICC INVESTMENTS LIMITED
CONSOLIDATED STATEMENT OF OPERATIONS
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Years Ended
December 31
$thousands, except per share amounts 2004 2003
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Revenues
Interest, dividends and other $ 8,701 $ 5,329
Investment gains 9,674 -
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18,375 5,329

Expenses 1,790 2,039
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Income Before Taxes 16,585 3,290

Income Taxes - -
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Net Income 16,585 3,290

Preference Share Dividends 2,250 3,375
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Net Income (Loss) After
Preference Share Dividends $ 14,335 $ (85)
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Net Income (Loss) Per Common Share (1) $ 0.202 $ (0.001)
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Note 1: Net income (loss) per common share is after preference share
dividend payments.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    MICC Investments Limited
    David A. Rattee
    President and Chief Executive Officer
    (416) 591-5105