Welcome!

Microsoft Cloud Authors: Liz McMillan, David H Deans, Pat Romanski, Janakiram MSV, Jnan Dash

News Feed Item

Royal Oak Announces Third Quarter Results

TORONTO, ONTARIO -- (Marketwire) -- 11/27/12 -- Royal Oak Ventures Inc. (CNSX:ROV)(CNSX:ROV.B) ("Royal Oak" or the "company") reported net income of $0.4 million or $nil per share for the quarter ended September 30, 2012 compared to net income of $0.1 million or $nil per share in the corresponding period in 2011. Comprehensive income, which consists of net income and other comprehensive income, increased by $2.0 million to $0.9 million for the quarter ended September 30, 2012 compared to the same period of 2011. The increase in comprehensive income was driven by $0.6 million of unrealized gains on the company's investment portfolio, compared to $1.3 million of unrealized losses recorded in the prior year.


                                                                            
                          STATEMENTS OF OPERATIONS                          
                                                                            
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                  Three months ended      Nine months ended 
                                        September 30           September 30 
(Thousands, except per share                                                
 amounts)                             2012      2011        2012       2011 
--------------------------------------------------------------------------- 
Revenue                                                                     
  Interest and dividend income    $    221  $    217    $    683   $    662 
Expenses                                                                    
  General, administrative and                                               
   other                                81        76         237        456 
--------------------------------------------------------------------------- 
                                       140       141         446        206 
Foreign currency revaluation           147       129         215        138 
--------------------------------------------------------------------------- 
Income before income taxes             287       270         661        344 
Deferred income tax (expense)                                               
 recovery                               81      (173)        106       (164)
--------------------------------------------------------------------------- 
Net income                        $    368  $     97    $    767   $    180 
--------------------------------------------------------------------------- 
--------------------------------------------------------------------------- 
Net income per share (basic and                                             
 diluted)                         $      -  $      -    $      -   $      - 
--------------------------------------------------------------------------- 
--------------------------------------------------------------------------- 
                                                                            
                                                                            
                          CHANGES IN NET BOOK VALUE                         
                                                                            
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
The net book value per common share as at September 30, 2012 was $nil. The  
information in the following table shows the changes in net book value for  
the three and nine months ended September 30, 2012 and 2011.                
                                                                            
--------------------------------------------------------------------------- 
--------------------------------------------------------------------------- 
                                  Three months ended September 30           
                                  2012                      2011            
--------------------------------------------------------------------------- 
(Unaudited)                                                                 
(Thousands, except per                       Per                            
 share amounts)                Total     Share(1)       Total    Per Share  
--------------------------------------------------------------------------- 
Net book value,                                                             
 beginning of period                                                        
 (2)                     $    33,500 $      0.20  $    34,410  $      0.21  
Net income                       368           -           97            -  
Other comprehensive                                                         
 income (loss)                   522        0.01       (1,164)       (0.01) 
--------------------------------------------------------------------------- 
Comprehensive income                                                        
 (loss)                          890        0.01       (1,067)       (0.01) 
Net book value, end of                                                      
 period(2)               $    34,390 $      0.21  $    33,343  $      0.20  
--------------------------------------------------------------------------- 
--------------------------------------------------------------------------- 

---------------------------------------------------------------------------
---------------------------------------------------------------------------
                                  Nine months ended September 30           
                                  2012                      2011           
---------------------------------------------------------------------------
(Unaudited)                                                                
(Thousands, except per                       Per                           
 share amounts)                Total     Share(1)       Total    Per Share 
---------------------------------------------------------------------------
Net book value,                                                            
 beginning of period                                                       
 (2)                     $    32,927 $      0.20  $    34,212  $      0.21 
Net income                       767           -          180            - 
Other comprehensive                                                        
 income (loss)                   696        0.01       (1,049)       (0.01)
---------------------------------------------------------------------------
Comprehensive income                                                       
 (loss)                        1,463        0.01         (869)       (0.01)
Net book value, end of                                                     
 period(2)               $    34,390 $      0.21  $    33,343  $      0.20 
---------------------------------------------------------------------------
---------------------------------------------------------------------------
(1)  As at September 30, 2012 and December 31, 2011 the company was         
     capitalized with 162,496,456 shares, consisting of 3,157,189 common    
     voting shares and 159,339,267 non-voting shares, which are referred to 
     collectively as "shares"                                               
(2)  Net book value is a non-IFRS measure                                   
                                                                            
                      STATEMENTS OF FINANCIAL POSITION                      
                                                                            
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
The information in the following table has been extracted from the company's
statements of financial position as at September 30, 2012 and December 31,  
2011.                                                                       
                                                                            
                                           September 30,        December 31,
(Thousands, except per share amounts)               2012                2011
----------------------------------------------------------------------------
Assets                                                                      
Current assets                                                              
  Cash and cash equivalents             $          8,179    $          7,742
  Marketable securities                           21,739              21,162
  Accounts receivable                                694                 134
  Loans receivable                                 3,859               4,007
----------------------------------------------------------------------------
                                        $         34,471    $         33,045
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Liabilities and equity                                                      
Current liabilities                                                         
  Accounts payable and accrued                                              
   liabilities                          $             81    $            118
Equity                                            34,390              32,927
----------------------------------------------------------------------------
                                        $         34,471    $         33,045
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Net book value per share (1,2)          $           0.21    $           0.20
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(1) As at September 30, 2012 and December 31, 2011 there were 162,496,456   
 shares issued and outstanding(2) Net book value is a non-IFRS measure      

Contacts:
Royal Oak Ventures Inc.
Derek E. Gorgi
Vice-President Finance
(416) 363-9491

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, will posit that disruption is inevitable for c...
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that Addteq will exhibit at SYS-CON's DevOps Summit at Cloud Expo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Addteq specializes in creating innovative solutions to solve business processes through the use of DevOps automation. Addteq was founded on the firm belief that automation is essential for successful software releases. Addteq's products and services are centered around the fundamental approach of understanding the pr...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...