Gendis Inc. Announces Fourth Quarter Earnings and Annual Results

(firmenpresse) - WINNIPEG, MANITOBA -- (Marketwired) -- 04/11/13 -- Gendis Inc. (TSX: GDS) today announced its financial results for the 4th quarter ended January 31, 2013 and for the fiscal year ended January 31, 2013.

Revenue for the 4th quarter was $1,416,000 compared to $1,421,000 for last year's 4th quarter. Net earnings for the 4th quarter were $4,082,000 ($0.30 per share) compared to earnings of $17,759,000 ($1.28 per share) for last year's 4th quarter.

Revenue for the year was $5,887,000 compared to $5,938,000 last year. Net loss for the year was $4,218,000 ($0.30 per share) compared to net earnings of $17,088,000 ($1.23 per share) for last year.

The volatility in net earnings quarter over quarter and for the year over year is primarily due to the change in fair value of equity investments and investment properties with the attendant effect on deferred income taxes. Also, the 4th quarter last year included the settlement with the Canada Revenue Agency of a long outstanding tax claim, while the 2nd quarter this year included the settlement with our insurer on legal claims in a prior year. Revenue less expense for the 4th quarter was $557,000 compared to $350,000 for last year's 4th quarter. Revenue less expense for the year was $2,275,000 compared to $1,982,000 last year.





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

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Bereitgestellt von Benutzer: Marketwired
Datum: 11.04.2013 - 21:11 Uhr
Sprache: Deutsch
News-ID 248436
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WINNIPEG, MANITOBA

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Oil & Gas

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