TORONTO, ONTARIO — (Marketwire) — 08/28/12 — West Street Capital Corporation (“West Street” or the “company”) (TSX: WSC)(TSX: WSC.PR.A) reported net income for the quarter ended June 30, 2012 of $1.4 million consistent with $1.4 million in the comparative quarter in 2011. After providing for unpaid preferred share dividend obligations of $0.7 million (2011 – $0.7 million) that accumulated during the quarter, net income per common share was $0.06 for the period ended June 30, 2012 (2011 – $0.06).
STATEMENTS OF OPERATIONS
Comprehensive income, which includes both net income and other comprehensive income, for the quarter ended June 30, 2012 totalled $6.5 million compared to $3.7 million in the comparative period in 2011, which reduced the common share deficit to $25.3 million. The company recorded an unrealized gain of $5.2 million (2011 – $2.3 million) as a result of increases in the fair value of the securities portfolio which is recorded in other comprehensive income.
STATEMENTS OF FINANCIAL POSITION
Contacts:
West Street Capital Corporation
Sachin G. Shah
President
(416) 359-8625