VANCOUVER, June 14, 2016 /CNW/ - Wall Financial Corporation
(the "Company") released its operating results and financial statements for the three months ended April
30, 2016. The Company recorded a net loss attributable to shareholders of the Company for the quarter ended
April 30, 2016 of $310,947 or $0.01 per
share (April 30, 2015 – loss of $156,932 or $0.00 per share).
At April 30, 2016, earnings before interest, income tax, and depreciation and amortization
(EBITDA)1, and net earnings attributable to non-controlling interest were $4,292,746
(April 30, 2015 – $2,753,327).
Higher average daily rates achieved at the hotels resulted in revenues of $12,209,138 and
earnings2 of $1,317,384 from hotel operations for the quarter ended
April 30, 2016 compared with revenues of $10,486,419 and earnings of
$865,426 for the quarter ended April 30, 2015. Revenues from the
Company's rental properties for the quarter ended April 30, 2016 of $3,327,677 were consistent with revenues for the comparative quarter in the prior year of $3,047,002. Revenue from development operations increased from $2,533,000 for the
quarter ended April 30, 2015 to $6,253,195 for the quarter ended
April 30, 2016.
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Three months ended April 30
|
|
2016
|
2015
|
|
Revenue and other income
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$
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21,807,503
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$
|
16,086,682
|
|
Net loss attributable to shareholders of the Company
|
|
(310,947)
|
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(156,932)
|
|
Net loss per share
|
|
(0.01)
|
|
(0.00)
|
|
|
|
|
|
|
April 30, 2016
|
January 31, 2016
|
|
Total assets
|
$
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972,071,494
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$
|
900,330,627
|
The above unaudited financial information, including comparative information, is expressed in Canadian dollars and has been
prepared in accordance with International Financial Reporting Standards, using the same accounting policies and methods of
application as described in notes 2 and 3 of the Company's audited consolidated financial statements for the years ended
January 31, 2016 and 2015.
Wall Financial Corporation is a B.C. based real estate company active in the development and management of residential rental
apartments, development and construction of residential housing for resale, and the development and management of hotel
properties.
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1EBITDA is a widely accepted supplemental measure of financial performance but is not prescribed by Canadian generally
accepted accounting principles ("GAAP"). This non-GAAP financial measure does not have any standardized meaning and
therefore, may not be comparable to similar measures presented by other companies.
2Earnings referenced herein pertain to earnings before income tax.
SOURCE Wall Financial Corporation
