Click here to close now.




















Welcome!

Microsoft Cloud Authors: Greg O'Connor, Liz McMillan, Aleksei Gavrilenko, Elizabeth White, Pat Romanski

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
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect their organization.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Akana has released Envision, an enhanced API analytics platform that helps enterprises mine critical insights across their digital eco-systems, understand their customers and partners and offer value-added personalized services. “In today’s digital economy, data-driven insights are proving to be a key differentiator for businesses. Understanding the data that is being tunneled through their APIs and how it can be used to optimize their business and operations is of paramount importance,” said Alistair Farquharson, CTO of Akana.
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI Intelligence, he worked analyzing bank technology for Corporate Insight and The Clearing House Payment...
"Optimal Design is a technology integration and product development firm that specializes in connecting devices to the cloud," stated Joe Wascow, Co-Founder & CMO of Optimal Design, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unp...
Electric Cloud and Arynga have announced a product integration partnership that will bring Continuous Delivery solutions to the automotive Internet-of-Things (IoT) market. The joint solution will help automotive manufacturers, OEMs and system integrators adopt DevOps automation and Continuous Delivery practices that reduce software build and release cycle times within the complex and specific parameters of embedded and IoT software systems.
"ciqada is a combined platform of hardware modules and server products that lets people take their existing devices or new devices and lets them be accessible over the Internet for their users," noted Geoff Engelstein of ciqada, a division of Mars International, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.