Business
WALL FINANCIAL CORPORATION - NEWS RELEASE
Jun. 23, 2011 (Canada NewsWire Group) -- VANCOUVER, June 23, 2011 /CNW/ - Wall Financial Corp...

About this update from Wall Financial Corporation
[{"type":"text","content":"\n\n\n Jun. 23, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, June 23, 2011 /CNW/ - Wall Financial Corporation (the\n "Company") released today its operating results and financial\n statements for the three months ended April 30, 2011. The Company\n recorded net earnings and comprehensive income attributable to owners\n of the Company for the first quarter of $16,392,584 or $0.50 per share\n (April 30, 2010 - $10,563,224 or $0.32 per share).\n\nAs at April 30, 2011, earnings before interest, income tax, and\n depreciation and amortization (EBITDA), and net earnings attributable\n to non-controlling interest were $57,361,301 (April 30, 2010 -\n $20,112,616).\n\nRevenue from real estate operations increased from $66,324,777 in the\n first quarter of the prior year to $186,473,472 in the first quarter of\n fiscal 2012, predominantly due to the closing of 343 condominium units\n at the Capitol Residences development in the first quarter of fiscal\n 2012. Revenue from hotel operations was $11,548,179 for the three\n months ended April 30, 2011 compared to $16,026,723 in the same period\n of the prior year. This decrease was primarily due to stimulus received\n in the prior year from the Vancouver Winter Olympics, which resulted in\n higher occupancy and average daily room rates in the first quarter of\n the prior year. Rental property operating revenues remain stable with\n $4,044,280 recorded in revenue for the three months ended April 30,\n 2011 compared wit...