Sonor Investments Limited
TSX VENTURE : SNI.PR.A

May 02, 2008 12:14 ET

Sonor Investments Limited Reports Financial Results for the Year Ended December 31, 2007 and Three Months Ended March 31, 2008

TORONTO, ONTARIO--(Marketwire - May 2, 2008) - Sonor Investments Limited (TSX VENTURE:SNI.PR.A) today reported its financial results for the year ended December 31, 2007 and the three months ended March 31, 2008.



Year ended December 31 3 months ended March 31

2007 2006 2008 2007
$000 $000 $000 $000
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Revenue 5,234 4,991 375 661

Net Income (loss) 3,943 2,964 (62) 282
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Michael Gardiner, President and Chief Executive Officer, stated that as at March 31, 2008 the Company's assets totalled $61.6 million. These assets included $15.2 million of marketable securities, $31.9 million in a private investment and $13.1 million of cash and cash equivalents.

During the year ended December 31, 2007, the Company realized $406,000 in net capital losses on the sale of investments compared to net capital losses of $1,647,000 during the year ended December 31, 2006. During the three months ended March 31, 2008, Sonor realized $137,000 in net capital losses on the sale of investments compared to net capital losses of $284,000 during the corresponding period of the previous year.

Most of the realized capital losses recorded in 2006 were a result of the Corporation selling foreign currency-denominated investments whose value upon conversion to Canadian dollars had eroded due to the strengthening of the Canadian dollar from when the investments were first purchased.

Sonor Investments Limited is an investment corporation located in Toronto, Canada. The First Preference Shares of Sonor trade on The TSX Venture Exchange under the symbol SNI.PR.A.

Contact Information

  • Sonor Investments Limited
    Mr. Michael Gardiner
    President and CEO
    (416) 369-1499
    or
    Sonor Investments Limited
    Mr. Stephen Mills
    Treasurer & CFO
    (416) 369-1499