CALGARY, ALBERTA–(Marketwire – April 25, 2012) -
THIS DOCUMENT IS NOT INTENDED FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES.
Questor Technology Inc. (“Questor” or the “Company”) (TSX VENTURE:QST) announced today its financial and operating results for the year ended December 31, 2011. The Company’s audited annual financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”), including restatement of prior year results for comparative purposes. 2011 earnings per share was the third highest in the Company’s history and nearly equivalent to the second highest earnings per basic share of $0.051 which occurred in 2006.
The Company reported a profit of $1,190,404 ($0.048 per basic share) compared to a profit of $445,060 ($0.018 per basic share) for the year ended December 31, 2010. 2011 earnings per share was the third highest in the Company’s history and nearly equivalent to the second highest earnings per basic share of $0.051 which occurred in 2006.
This substantial increase in profit was primarily due to differences in the sales and services mix in each year and the higher margins achieved in 2011. Other non-recurring income arising in second quarter 2011 and comparatively lower net foreign exchange losses further contributed to the positive profit variance for the year ended December 31, 2011. Partially offsetting this favourable result were higher administration expenses, income tax expense and depreciation as well as losses on property and equipment disposals in 2011.
FINANCIAL HIGHLIGHTS SUMMARY
(Stated in Canadian dollars except per share amounts)
For the years ended December 31