Consolidated HCI Holdings Corporation Announces its 2017 Second Quarter Results

WOODBRIDGE, ON, May 8, 2017 /CNW/ - Consolidated HCI Holdings Corporation today announced its fiscal 2017 second quarter results.


3 months ended

March 31

6 months ended

March 31


2017

2016

2017

2016

($000's except earnings per share)








 Revenue

$365

$275

$679

$575






Net earnings (loss) for the period

$(368)

$  256

$476

$242






Earnings (loss) per share

$(0.02)

$0.01

$0.02

$0.01

 

Net earnings for the first six months of 2017 includes fair value gains on the Company's investment properties of $909.

Net earnings for the first six months of 2016 includes fair value gains on the Company's investment properties of $381.

On March 24, 2017, the Company announced that it had accepted an offer to sell its 50% interest in each of its two remaining investment properties to a company controlled by insiders of the Company with a scheduled closing of June 30, 2017. The purchase price for the sale is $14,250, to be satisfied by the assumption by the buyer of the Company's 50% of the mortgage obligation in respect of the properties, estimated to be $2,700 at closing, and the balance in cash. On April 28, 2017, the Company announced that, at special meeting of shareholders held that day, a special resolution approving the sale was passed.

Consolidated HCI Holdings Corporation is an Ontario-based real estate and development company that trades on The Toronto Stock Exchange under the symbol "CXA.B"

SOURCE Consolidated HCI Holdings Corporation

For further information: please contact Mr. Arnold J. Resnick, 905-851-7741 (106)


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