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

West Street Capital Corporation

November 20, 2006 16:07 ET

West Street Announces 2006 Third Quarter Results

TORONTO, ONTARIO--(CCNMatthews - Nov. 20, 2006) - West Street Capital Corporation (TSX VENTURE:WSC)(TSX VENTURE:WSC.PR.A) today reported net income of $0.4 million for the three months ended September 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 $0.03 compared to a loss of $0.04 during the same period last year.



Statement of Operations
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Three months ended Nine months ended
September 30 September 30
(unaudited)
$thousands, except per
share amounts 2006 2005 2006 2005
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Investment income
Dividends, interest and other $ 694 $ 618 $ 1,924 $ 1,859
Disposition gains - - 317 -
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694 618 2,241 1,859
Expenses
Operating 69 152 222 407
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Net income before taxes 625 466 2,019 1,452

Income taxes 225 173 410 375
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Net income $ 400 $ 293 $ 1,609 $ 1,077
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Net loss per common share $ (0.03) $ (0.04) $(0.05) $ (0.10)
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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
    (416) 359-8625