Northern Financial Reports First Quarter of Fiscal 2013 Results
29 Août 2012 - 5:32AM
PR Newswire (Canada)
TORONTO, Aug. 29, 2012 /CNW/ - Northern Financial Corporation
("Northern Financial" or the "Company") today reported results for
its first quarter ended June 30, 2012, of its fiscal 2013
year ending March 31, 2013, and the financial results of its wholly
owned subsidiary, Northern Securities Inc. ("Northern Securities").
Financial results for first quarter ended June 30, 2012, for
Northern Securities For the three months ended June 30, 2012,
Northern Securities reported net income of $1,344,000 compared with
a loss of $63,000 in the prior year. Financial results for first
quarter ended June 30, 2012 for Northern Financial For the first
quarter ended June 30, 2012, Northern Financial reported a loss of
$1,426,764 compared to a loss of $85,000 in the prior
year. Included in the net loss was a loss of
$202,487 representing the Company's share of the net income of
Jaguar Financial Corporation. The net loss also included a
negative, non-cash net valuation adjustment of $210,521 on the
Company's broker warrant portfolio. Northern Financial Corporation
wholly owns Northern Securities Inc., a full service investment
dealer that provides financial advisory services to retail and
institutional clients and investment banking services to small
capitalization companies. Northern Financial Corporation CONTACT:
Ann KrallischDirector, Business DevelopmentNorthern Securities
Inc.(416) 644-8113Fax: (416) 644-0270e-mail:
akrallisch@northernsi.com
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