Norstar Securities Trust

April 25, 2008 16:00 ET

Norstar Securities Trust: Fiscal 2007 Report to Unitholders

TORONTO, ONTARIO--(Marketwire - April 25, 2008) - Norstar Securities Trust ("Norstar", the "Trust", the "Company") reports net earnings of $1,196,195 or approximately $0.25 per unit for the year ended December 31, 2007.



Financial highlights for the period ending December 31, 2007 as follows:

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Three Months Year
Ended Ended
December 31, December 31,
Operating results 2007 2007
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(Unaudited) (Audited)

Revenue $1,229,815 $3,273,126
Operating expenses 938,114 2,076,931
Net earnings 291,701 1,196,195
Earnings per unit $0.06 $0.25
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Balance sheet highlights:

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December 31, December 31,
2007 2006
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(Audited) (Audited)

Cash $4,167,398 $ 10
Current assets 7,808,794 4,260
Total assets 8,081,780 4,260
Current liabilities 6,918,977 4,250
Total liabilities 7,078,977 4,250
Unitholders' equity 1,002,803 10
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Results for last three quarters:

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Three Months Three Months Three Months
Ended Ended Ended
June 30, 2007 Sept. 30, 2007 Dec. 31, 2007

Revenue 904,081 1,139,230 1,229,815
Expenses 505,054 633,763 938,114
Net earnings 399,027 505,467 291,701
Earnings per unit .08 0.11 0.06


Norstar Securities Trust operates an independent Canadian investment dealer through its limited partner, Norstar Securities Limited Partnership.

Other Information:

This press release should be read in conjunction with the management's discussion and analysis and unaudited interim consolidated financial statements for the three and six months ended June 30, 2007, which are available on SEDAR at www.sedar.com.

Forward-Looking Statements

This press release may contain forward-looking statements, which are subject to risks and uncertainties and other factors that may cause the Fund's results to differ materially from expectations. When reviewing the Fund's forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. These include risk relating to market fluctuations, investee performance, strength of the North American and European economy, foreign exchange fluctuations and other risks not yet know to the Fund.. These forward-looking statements speak only as of the date hereof. Unless otherwise required by applicable securities laws, the Fund disclaims any intention or obligation to update these forward-looking statements. The Fund does have an ongoing obligation to disclose material information as it become available. The discussion also includes cautionary statements about these matters. You should read the cautionary statements made as being applicable to all forward-looking statements wherever they appear in this document.

Contact Information

  • Norstar Securities Trust
    Michael Sheridan
    (416) 619-2008
    (416) 619-2011 (FAX)