Pinetree Capital Ltd. Announces Unaudited Financial Results for the Three and Nine Months Ended September 30, 2012
TORONTO, ONTARIO--(Marketwire - Nov. 9, 2012) - Pinetree Capital Ltd. ("Pinetree") (TSX:PNP) today announces its unaudited financial results for the three and nine months ended September 30, 2012.
During the third quarter of 2012, Pinetree had a net profit of $23 million, as compared to a net loss of $136 million for the same quarter last year. Net profit generated was primarily the result of net investment gains of $26 million in the quarter, comprised of $49 million in unrealized gains on investments and realized losses on dispositions of investments of $23 million. Earnings per share was $0.17, as compared to loss per share of $1.00 per share in the three months ended September 30, 2011.
For the nine months ended September 30, 2012, Pinetree had a net loss of $98 million, as compared to $292 million for the same period last year. Net loss generated was primarily the result of net investment losses of $89 million in the current period, comprised of $62 million in unrealized losses on investments and realized losses on dispositions of investments of $27 million. Loss per share was $0.72, as compared to $2.14 per share in the nine months ended September 30, 2011.