VANCOUVER, April 27 /CNW/ - Wall Financial Corporation (the "Company")
released today its operating results and financial statements for the years
ended January 31, 2007 and 2006. The Company recorded net earnings for the
fourth quarter of $16,100,503 or $0.50 per share (2006 - $1,035,522) and
recorded annual net earnings of $25,719,632 or $0.80 per share, an increase of
$3,465,328 over 2006. At January 31, 2007, the Company recorded earnings
before interest, income tax and depreciation and amortization (EBITDA) and
non-controlling interest of $63,627,110 (2006 - $47,976,806). The increase in
earnings and EBITDA for the year was the direct result of sales of properties
under development and increased revenue from hotel and rental apartment
January 31, 2007 January 31, 2006
Net earnings per share $0.80 $0.69
Net earnings $25,719,632 $22,254,304
Revenue & Other Income $301,322,519 $182,476,610
Total Assets $401,279,303 $404,487,822
The above financial information is expressed in Canadian dollars and is
prepared in accordance with Canadian generally accepted accounting principles,
using the same accounting policies and methods of application as described in
note 2 of the Company's audited consolidated financial statements for the
years ended January 31, 2007 and 2006.
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.
The Toronto Stock Exchange does not accept responsibility for the
adequacy and accuracy of this release. The Toronto Stock Exchange has neither
approved nor disapproved of the contents of this release.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
For further information:
For further information: Bruno Wall, President, WALL FINANCIAL
CORPORATION (TSX:WFC), 3502 - 1088 Burrard Street, Vancouver, British Columbia
V6Z 2R9, (604) 893-7131