Humboldt earns $16.2 million for the year ended December 31, 2009

CALGARY, April 30 /CNW/ - Humboldt today reported earnings of $16.2 million or $1.33 per share for the twelve months ended December 31, 2009. Humboldt also announces that its net asset value had increased to $46.7 million or $3.77 per share at December 31, 2009.

Humboldt's cash and cash equivalents were $10.4 million at December 31, 2009.

Highlights

    
                                                  Year Ended December 31
                                            ---------------------------------
    (Thousands, except per share amounts)       2009        2008        2007
    -------------------------------------------------------------------------
    Earnings (loss) and comprehensive
     earnings (loss) for the year           $ 16,199    $(22,486)   $(14,575)
      Earnings (loss) per share, diluted    $   1.33    $  (1.84)   $  (1.18)
    Eligible Dividends paid                 $  3,042    $      -    $      -
      Dividends per share                   $   0.25    $      -    $      -

    Share capital                           $  2,033    $  2,047    $  2,072
    Retained earnings                       $ 43,320    $ 30,281    $ 53,110
    Shareholders' equity                    $ 46,694    $ 33,669    $ 56,397


    Cash and cash equivalents               $ 10,376    $ 21,867    $  9,458

    Shares outstanding                        12,115      12,201      12,350
      Net asset value per share, diluted    $   3.77    $   2.75    $   4.42
    -------------------------------------------------------------------------
    

Humboldt's Financial Statements and Management's Discussion and Analysis for the twelve months ended December 31, 2009 have been filed on SEDAR and can be found on Humboldt's website at www.humboldtcapital.com.

Forward-looking statements - the press release today contains "forward-looking" information. Actual results could differ materially from the conclusions, forecasts or projections in the forward-looking information. Certain material factors and assumptions were applied in drawing the conclusions or making the forecasts or projections as reflected in the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied in drawing the conclusion or making the forecast or projection as reflected in the forward-looking information is contained in the press release.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE HUMBOLDT CAPITAL CORPORATION

For further information: For further information: R.W. Lamond, Chairman of the Board - or - C.A. (Tony) Teare, Executive Vice President, HUMBOLDT CAPITAL CORPORATION, Telephone: (403) 269-9889, Fax: (403) 269-9890, TSX-V: HMB

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HUMBOLDT CAPITAL CORPORATION

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