April 26, 2013 16:38 ET
TORONTO, ONTARIO--(Marketwired - April 26, 2013) - West Street Capital Corporation ("West Street" or the "company") (TSX VENTURE:WSC)(TSX VENTURE:WSC.PR.A) reported net income for the year ended December 31, 2012 of $5.9 million compared to $3.6 million in 2011. After providing for unpaid preferred share dividend obligations of $2.9 million (2011 - $2.9 million) that accumulated during the year, net income per common share was $0.27 for the year ended December 31, 2012 compared to $0.06 per common share in 2011.
STATEMENTS OF OPERATIONS
Comprehensive income, which includes both net income and other comprehensive income, totalled $23.7 million for the year ended December 31, 2012 compared to $3.1 million in the prior year, which decreased the common share deficit to $16.8 million. The company recorded other comprehensive income of $17.8 million (2011 - loss of $0.5 million) during the year as a result of an increase in the fair value of the securities portfolio of $20.5 million offset by $2.7 million of deferred income taxes.
STATEMENTS OF FINANCIAL POSITION
West Street Capital CorporationSachin G. ShahPresident(416) 363-9491
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