Business
Proprietary Announces Year End Results
Proprietary Announces Year End Results.
About this update from Jura Energy Corporation
[{"type":"text","content":"\n\n\n\n\n(PPI) TSX/SWX\n\nCALGARY, Dec. 21 /CNW/ - Proprietary Industries Inc. (\"PPI\" or the\n\"Company\") announced today its financial results for the year ended\nSeptember 30, 2005. The net loss for the year ended September 30, 2005 is\n$2,960,485 versus a net income of $6,867,752 for the year ended September 30,\n2004. This variance between the two years is primarily as a result of the\ndiffering nature of the non-recurring items in each of these respective years,\nwhich makes fiscal year comparisons not meaningful. In fiscal 2005, the more\nsignificant non-recurring items were: (a) the sale of shares the Company held\nin public companies which generated a net gain of $1,471,243; (b) the debt\nsettlement with and the deconsolidation of Newmex Minerals Inc. (as described\nin the September 30, 2005 consolidated financial statements) resulting in a\nnet gain of $351,173; (c) take-over bid expenses of $924,826; and (d) the debt\nsettlement, sale and deconsolidation of the operations of the Thunder Bay golf\ndome which resulted in a net loss of approximately $315,000. In fiscal 2004,\nthe major non-recurring items generated income in excess of $10 million.\nFurther information can be found in the Company's 2005 Annual Report, which\nwill shortly be filed on SEDAR at www.sedar.com and available to view on our\nwebsite at www.proprietaryinc.com.\n\n>\n\n\n\n\n","length":14056,"tagName":"div"}]