TORONTO, ONTARIO — (Marketwire) — 11/26/12 — West Street Capital Corporation (TSX VENTURE: WSC)(TSX VENTURE: WSC.PR.A) (“West Street” or the “company”) reported net income for the quarter ended September 30, 2012 of $1.6 million compared to a net loss of $0.6 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 $0.08 (2011 – loss of $0.13).
Comprehensive income, which includes both net income and other comprehensive income, for the three months ended September 30, 2012 totalled $5.6 million compared to a loss of $14.4 million in the comparative period in 2011, which reduced the common share deficit to $20.5 million. The company recorded an unrealized gain of $4.0 million (2011 – loss of $13.8 million) as a result of increases in the fair value of the securities portfolio which is recorded in other comprehensive income.
Contacts:
West Street Capital Corporation
Sachin G. Shah
President
(416) 359-8625