Pinetree Capital Ltd. Announces Unaudited Financial Results For The Three Months Ended March 31, 2015
May 12, 2015
TORONTO, Ontario (May 12, 2015) – Pinetree Capital Ltd. (“Pinetree”) (TSX: PNP) today announces its unaudited interim consolidated financial results for the three months ended March 31, 2015.
For the three months ended March 31, 2015, Pinetree had a net loss of $7.16 million, as compared to a net profit of $30.3 million for the same quarter last year. Net loss for the three months ended March 31, 2015 was primarily the result of net investment losses of $3.6 million, comprised of $29.5 million in realized losses on dispositions of investments offset by unrealized gains on investments of $25.9 million. Basic loss per share was $0.04 for the three months ended March 31, 2015, as compared to basic earnings per share of $0.20 for the three months ended March 31, 2014.
As at March 31, 2015, the fair value of the Company’s total investments was $87 million, as compared to $107 million as at December 31, 2014, a decrease of 18%. The composition of Pinetree’s investment portfolio by sector as at March 31, 2015 and December 31, 2014 is outlined in the following table:
Net asset value per share (“NAV”) was $0.22 as at March 31, 2015, a 12% decrease from the December 31, 2014 NAV of $0.25. (See “Use of Non-GAAP Measures” below.)
Pinetree discloses an unaudited monthly net asset value per share within 15 days after each month-end. For the latest month-end net asset value per share and for more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com.
Use of Non-GAAP Measures
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