Business
Augen Capital Announces Third Quarter Earnings and 44% Increase in Revenues
Augen Capital Announces Third Quarter Earnings and 44% Increase in Revenues.
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\n\nTORONTO, Dec. 1 /CNW/ - Augen Capital Corp. (the \"Augen\") (TSX-V: AUG) is\npleased to announce consolidated financial results for the third quarter\nending September 30, 2005.\n\n- Consolidated revenues were unchanged at $0.6 million for the third\n quarter versus the same quarter ended 2004. Year-to-date consolidated\n revenues were up 44% to $1.3 million as compared to $0.9 million for\n the same period in 2004.\n\n- Consolidated expenses marginally increased to $0.4 million for the\n third quarter versus $0.3 million for the same quarter ended 2004.\n Year-to-date consolidated expenses increased to $1.1 million as\n compared to $0.7 million for the same period in 2004.\n\n- Consolidated net earnings for the quarter was $0.2 million, slightly\n below $0.3 million for the same quarter last year.\n\n- Cash generated from operations amounted to $0.3 million for the\n quarter and moved up from $0.2 million last year.\n\n- Consolidated net assets at September 30, 2005 amounted to $3.2 million\n offset by $0.3 million of current liabilities.\n\nThe year over year increase in consolidated revenues for the nine month\nperiod ended September 30, 2005 is outlined as follows:\n\nManaged Products partnership advisory and performance fees were $81\nthousand for the quarter as compared to $50 thousand for the same quarter last\nyear due mainly to the increased assets under management. Consulting and due\ndiligence fee income was $335 thousand slightly below the $386 thousand for\nthe same quarter last year, as the $3.1 million in assets raised in Augen\nLimited Partnership 2005 generated a similar level of gross setup fee income\nas the $3.6 million assets raised in Augen Limited Partnership 2004-1 last\nyear. Year-to-date Managed Products revenues were unchanged at $614 thousand.\n\nMerchant Banking realized gains on the sale of proprietary investments\nwere up in the third quarter and amounted to $83 thousand as compared to\nrealized gains of $NIL for the same quarter last year. Year-to-date Merchant\nBanking revenues increased 238% to $650 thousand as compared to $273 thousand\nfor the same period last year. There was $436 thousand in realized gains on\nthe sale of proprietary investments for the current year as compared to $116\nthousand in the previous year. Unitholder administration & Corporate Counsel &\nSecretary ser...