West Street Capital Corporation
TSX VENTURE : WSC
TSX VENTURE : WSC.PR.A

West Street Capital Corporation

May 18, 2006 15:18 ET

West Street Announces 2006 First Quarter Results

TORONTO, ONTARIO--(CCNMatthews - May 18, 2006) - West Street Capital Corporation (TSX VENTURE:WSC)(TSX VENTURE:WSC.PR.A) today reported net income of $0.5 million for the three months ended March 31, 2006, consistent with the same period in 2005. After providing for unpaid and unaccrued preferred share dividend obligations that accumulated during the quarter, the net loss per common share was $0.02 consistent with net income per common share during the same period last year.



Statement of Operations
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Three months ended
March 31
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(unaudited)
$thousands, except per share amounts 2006 2005
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Investment income
Dividends, interest and other $ 572 $ 627
Disposition gains 179 -
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751 627

Expenses
Operating 83 98
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Net income before taxes 668 529

Income taxes (137) (63)
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Net income $ 531 $ 466
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Net loss per common share $ (0.02) $ (0.02)
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This news release contains forward-looking statements concerning the Company's business and operations. The Company cautions that, by their nature, forward-looking statements involve risk and uncertainty and the Company's actual results could differ materially from those expressed or implied in such statements. Reference should be made to the most recent Annual Information Form for a description of the major risk factors.

Contact Information

  • West Street Capital Corporation
    Brian D. Lawson
    President and Chief Executive Officer
    (416) 359-8625