Sheridan Brothers Trust

April 30, 2012 17:27 ET

Sheridan Brothers Trust: Fiscal 2011 Report to Unitholders

TORONTO, ONTARIO--(Marketwire - April 30, 2012) - Sheridan Brothers Trust ("Sheridan Brothers", the "Trust", the Company") reports net earnings for the year ended December 31, 2011.

Financial Highlights for the period ending December 31, 2011 as follows:

Operating Results
Three Months
Ended December
31, 2011
Year Ended
December 31,
Revenue $1,122,480 $3,257,578
Operating expenses 1,919,102 3,182,646
Net earnings (loss) (796,622) 74,932
Earnings per unit (loss) $(0.169) $0.016

Balance sheet highlights:

December 31, 2011

December 31, 2010
(Audited) (Audited)
Cash $8,569,306 $7,480,544
Current assets 16,161,911 11,060,962
Total assets 16,351,305 11,258,640
Current liabilities 15,222,579 10,194,646
Total liabilities 15,517,479 10,354,646
Unitholders' equity 833,826 903,994
Results for last four quarters:
Three Months
Ended December
31, 2011
Three Months
Ended September
30, 2011
Three Months
Ended June 30,
Three Months
Ended March 31,
Revenue 1,122,480 810,655 578,248 746,195
Expenses 1,919,102 407,657 369,034 486,853
Net earnings (loss) (796,622) 402,998 209,214 259,342
Earnings per unit(loss) $(0.168) $0.085 $0.044 $0.055

Sheridan Brothers Trust (formerly Norstar Securities Trust) operates an independent Canadian investment dealer through its limited partner, Sheridan Brothers Limited Partnership (formerly 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, 2011, which are available on SEDAR at

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 known 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

  • Sheridan Brothers Trust
    Michael Sheridan
    416-619-2011 (FAX)