TORONTO, ONTARIO — (Marketwire) — 04/20/12 — West Street Capital Corporation (TSX VENTURE: WSC)(TSX VENTURE: WSC.PR.A) (“West Street” or the “company”) reported net income for the year ended December 31, 2011 of $3.6 million compared to $4.2 million in 2010. After providing for unpaid preferred share dividend obligations of $2.9 million (2010 – $2.9 million) that accumulated during the year, net income per common share was $0.06 for the year ended December 31, 2011 compared to $0.12 per common share in 2010. The financial results are reported under International Financial Reporting Standards.
Comprehensive income, which includes both net income and other comprehensive loss, for the year ended December 31, 2011 totalled $3.1 million compared to $13.2 million in the prior year, which decreased the common share deficit to $37.5 million. The company recorded a loss of $0.5 million (2010 – income of $9.0 million) in other comprehensive loss during the year as a result of declines in the fair value of the securities portfolio.
Contacts:
West Street Capital Corporation
Sachin G. Shah
President
(416) 369-8268