Flagship Industries Inc.: Year End Results.MARKHAM, Ontario Markham (2006 Population 261,573[0]) is located in York Region, directly north of Toronto, and is part of Toronto's CMA. It is larger than many Canadian cities. Despite its qualifications regarding population, it has not had the title of city conferred upon it by the -- Flagship Industries Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:FII FII Federated Investors Inc. (Pittsburgh, PA) FII Foreign Institutional Investor FII Falling Into Infinity (Dream Theater album) FII Fundación Instituto de IngenierÃa ) of Markham, Ontario reports net earnings of $241,604 for the year ended November 30, 2005 compared to net earnings of $68,748 for the same period last year. Earnings per common share for the year ended November 30, 2005 were 4 cents compared to 1 cent for the same period in the prior year. Book value per share was 15.7 cents at November 30, 2004 compared to 11.8 cents at November 30, 2004. Effective December 1, 2004, the Company adopted the recommendations of the Canadian Institute of Chartered Accountants The Canadian Institute of Chartered Accountants (CICA) is the umbrella body for the Chartered Accountant profession in Canada and Bermuda. Membership of the CICA totals 70,000 Chartered Accountants and 8,500 students. Handbook Accounting Guideline 18, "Investment Companies" and accordingly, all of the Company's investments in marketable securities Marketable Securities Very liquid securities that can be converted into cash quickly at a reasonable price. Notes: Marketable securities are very liquid as they tend to have maturities less than one year, and the rate at which these securities can be bought or sold has are carried at fair value. The Company adopted the Guideline retroactively and the prior year has been restated. --------------------------------------------------------------------- Years ended November 30 2005 2004 (1) --------------------------------------------------------------------- Net earnings 241,604 68,748 --------------------------------------------------------------------- Net earnings per share 0.04 0.01 --------------------------------------------------------------------- Shareholders' equity 962,273 720,669 --------------------------------------------------------------------- Average number of shares outstanding 6,113,275 6,113,275 --------------------------------------------------------------------- (1) Restated for change in investment accounting policy Flagship is a holding company based in Markham, Ontario. The Company currently has issued and outstanding 6,113,275 common shares. The directors of the Company are Joseph A. Devine, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Cynthia J. Devine, G. Michael Devine and Sarah E. Langdon. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this release. Flagship Industries Inc. (TSX VENTURE:FII) |
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