Sonor Investments Limited
TSX VENTURE : SNI.PR.A

November 12, 2008 15:45 ET

Sonor Investments Limited Reports Third Quarter Financial Results

TORONTO, ONTARIO--(Marketwire - Nov. 12, 2008) - Sonor Investments Limited (TSX VENTURE:SNI.PR.A) today reported its financial results for the nine months ended September 30, 2008.



9 months ended 3 months ended
September 30 September 30

2008 2007 2008 2007
$000 $000 $000 $000
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Revenue 792 1,456 186 376

Net Income (loss) for the period (60) 535 (258) (132)
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Michael Gardiner, President and Chief Executive Officer, stated that as at September 30, 2008 the Company's assets totaled $47.5 million. These assets included $13.8 million of marketable securities, $31.9 million in a private investment, $0.9 million in Canadian asset-backed commercial paper (ABCP) and $0.9 million of cash and cash equivalents.

During the nine months ended September 30, 2008, the Company realized $75,000 in net capital losses on the sale of investments compared to net capital losses of $433,000 during the nine months ended September 30, 2007. During the three months ended September 30, 2008, Sonor realized capital losses on the sale of investments of $20,000 compared to a net capital loss of $149,000 during the corresponding period of the previous year. As a result of liquidity uncertainties with Asset Backed Commercial Paper, the Company recorded a write-down of $332,000 in the most recent quarter for a total write-down of $408,000 on these assets for the year to date. This corresponds to a write-down of $228,000 during the nine months ended September 30, 2007.

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
    (416) 369-0280 (FAX)
    or
    Sonor Investments Limited
    Mr. Stephen Mills
    Treasurer & CFO
    (416) 369-1499
    (416) 369-0280 (FAX)