Norstar Securities Trust

May 02, 2011 16:00 ET

Norstar Securities Trust: Fiscal 2010 Report to Unitholders

TORONTO, ONTARIO--(Marketwire - May 2, 2011) - Norstar Securities Trust ("Norstar", the "Trust", the "Company") reports net earnings for the year ended December 31, 2010.

Financial Highlights for the period ending December 31, 2010 as follows:

Three MonthsYear Ended
Ended December 31,December 31,
Operating Results20102010
(Unaudited)(Audited)
Revenue$1,673,223$2,451,074
Operating expenses790,6191,632,653
Net earnings (loss)882,604818,421
Earnings per unit (loss)$0.19$0.17
Balance sheet highlights:
December 31, 2010December 31, 2009
(Audited)(Audited)
Cash$7,480,544$4,394,264
Current assets11,060,9625,741,863
Total assets11,258,6405,976,741
Current liabilities10,194,6464,928,768
Total liabilities10,354,6465,088,768
Unitholders' equity903,994887,973
Results for last four quarters:
Three MonthsThree MonthsThree MonthsThree Months
Ended DecemberEnded SeptemberEnded JuneEnded March
31, 201030, 201030, 201031, 2010
Revenue1,673,223211,682362,116204,053
Expenses790,619287,559262,313292,162
Net earnings (loss)882,604(75,877)99,803(88,109)
Earnings per unit0.19(0.02)0.02(0.02)
(loss)

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 audited consolidated statement for the year ended December 31, 2010, 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)