The Becker Milk Company Limited

June 27, 2011 16:40 ET

The Becker Milk Company Limited: Fiscal Year End Financial Results

TORONTO, ONTARIO--(Marketwire - June 27, 2011) -The Becker Milk Company Limited (the "Company") (TSX:BEK.B) is pleased to report the results for the fiscal year ending April 30th, 2011 from our real estate business.

Revenue of $3,951,187 for the twelve months ended April 30th, 2011 compares to $3,977,264 for the same period in 2010.

Net income for the twelve months ending April 30th, 2011 of $1,195,227 [$2,002,894 in 2010] is equivalent to $0.66 per share [$1.11 in 2010].

During the fiscal year ended April 30th, 2010, it was determined that the company's tax treatment of certain transactions passed the limitation period for reassessment. As a result an amount of $350,000 income tax plus an additional amount of $164,700 interest thereon, accrued and disclosed in years prior to April 30th, 2010, as current income tax payable, was reversed to current income tax expense. This reversal for the fiscal year ended 2010 increased net income during that period by an amount equivalent to 28 cents per share.

For the Board of Directors

G.W.J. Pottow, President

Contact Information

  • The Becker Milk Company Limited
    G.W.J. Pottow