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

West Street Capital Corporation

August 17, 2006 17:07 ET

West Street Announces 2006 Second Quarter Results

TORONTO, ONTARIO--(CCNMatthews - Aug. 17, 2006) - West Street Capital Corporation (TSX VENTURE:WSC)(TSX VENTURE:WSC.PR.A) today reported net income of $0.7 million for the three months ended June 30, 2006, compared to $0.3 million in 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 nil compared to a loss of $0.04 during the same period last year.



Statement of Operations
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Three months ended Six months ended
June 30 June 30
(unaudited)
$thousands, except per
share amounts 2006 2005 2006 2005
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Investment income
Dividends, interest and
other $ 658 $ 614 $ 1,230 $ 1,241
Disposition gains 138 -- 317 --
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796 614 1,547 1,241

Expenses
Operating 70 157 153 255
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Net income before taxes 726 457 1,394 986

Income taxes (48) (139) (185) (202)
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Net income $ 678 $ 318 $ 1,209 $ 784
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Net loss per common share $ -- $ (0.04) $ (0.02) $ (0.06)
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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