Gendis Inc. Announces Second Quarter Results

(firmenpresse) - WINNIPEG, MANITOBA -- (Marketwire) -- 09/07/12 -- Gendis Inc. (TSX: GDS) today announced its financial results for the 2nd quarter ended July 31, 2012.

Revenue for the 2nd quarter was $1,527,000 compared to $1,460,000 for last year's 2nd quarter. Net loss for the 2nd quarter was $7,736,000 ($0.56 per share) compared to a loss of $3,425,000 ($0.24 per share) for last year's 2nd quarter.

Revenue year-to-date was $3,040,000 compared to $3,098,000 last year. Net loss year-to-date was $7,509,000 ($0.54 per share) compared to a loss of $3,686,000 ($0.26 per share) for last year.

Lease rental revenue increased marginally while investment income was essentially even quarter over quarter and year-to-date. The decrease in earnings is primarily due to the change in fair value for equity investments quarter over quarter and year-to-date.

Condensed summarized information is as follows:

Gendis Inc.

Notes to the unaudited Condensed Consolidated Interim Financial Statements

July 31, 2012

(All tabular amounts in thousands of Canadian dollars unless otherwise stated)

1. General information

General information on Gendis Inc. is the same as disclosed in Note 1 to the complete audited annual financial report for the year ended January 31, 2012.

The principal accounting policies applied in the preparation of these condensed interim financial statements are the same as set out in Note 2 to the complete audited annual financial report for the year ended January 31, 2012. These policies have been consistently applied to all periods presented.

2. Investments

4. Settlement of legal claims

The Company reached a settlement with its insurer concerning the settlement of legal claims against the Company and some of its Directors by two suppliers and a buying agent and importer to a former subsidiary of the Company.

5. Subsequent Event

On September 7, 2012, the Company declared a regular dividend of 2.5 cents per share to shareholders of record September 21, 2012, payable October 5, 2012.

6. Operating segments

The segment information provided to the CEO for the reportable segments is as follows:





Contacts:
Gendis Inc.
James E. Cohen
President & Chief Executive Officer
(204)474-5200
(204)474-5201 (FAX)

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Bereitgestellt von Benutzer: MARKETWIRE
Datum: 07.09.2012 - 21:27 Uhr
Sprache: Deutsch
News-ID 181521
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WINNIPEG, MANITOBA

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Oil & Gas

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