Western Pacific Trust Company

Western Pacific Trust Company

April 29, 2013 13:12 ET

Western Pacific Trust Company Announces Profitable First Quarter

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 29, 2013) - Western Pacific Trust Company (TSX VENTURE:WP) ("WPTC" or the "Company") announces its financial results for the first quarter ended March 31, 2013, including record revenue growth and a net profit for the three months.

Key Results for the first quarter:

  • Revenue grew by $94,461 compared to prior year Q1 results (111% growth)
  • Net Income before Amortization & Finance Expense of $23,215, compared to loss of $51,107 for prior year Q1
  • Net Income for the Quarter of $20,744, compared to loss of $53,061 for prior year Q1

The Financial Statements and Management Discussion and Analysis for the period ended March 31, 2013, along with additional information about the Company and all of its public filings are available at www.sedar.com. The results for the quarter are summarized below:

Summary Financial Results
Three Months Ended March 31
2013 2012
Revenue 179,630 85,169
General & Administrative Expenses (156,415) (136,276)
Net Income (Loss) before Amortization and finance expense 23,215 (51,107)
Amortization and Finance Expense (2,471) (1,954)
Net Income(Loss) 20,744 (53,061)
Loss per share (basic and diluted) 0.000 (0.003)

About Western Pacific Trust Company

WPTC is a non-deposit taking financial corporation, licensed as a Trust Company under the Financial Institutions Act ("FIA") in British Columbia. WPTC is also registered extra-provincially in Alberta as a non-deposit taking Trust Company. The Company's primary activity is to act as a trustee for self-administered plans registered under the Income Tax Act (Canada). Additional corporate information is available at www.westernpacifictrust.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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