Consolidated HCI Holdings Corporation announces its 2014 annual and fourth quarter results

WOODBRIDGE, ON, Dec. 12, 2014 /CNW/ - Consolidated HCI Holdings Corporation today announced its annual and fourth quarter results for fiscal 2014.

	3 months ended September 30		12 months ended September 30
	2014	2013	2014	2013
($000's except earnings per share)
Revenue	$166	$769	$1,777	$3,643
Net earnings (loss) for the year	$(642)	$661	$(168)	$6,917
Earnings (loss) per share	$(0.03)	$0.01	$0.01	$0.34

Net earnings for the year ended September 30, 2013 includes $5,780 or $0.28 per share of income tax recovery in the second quarter of 2013 resulting from the reversal of prior year income tax provisions which were no longer considered necessary.

The 2013 annual and fourth quarter revenue amounts have been amended to remove the fair value gains of the Company's investment properties, to conform with the current year's presentation.

The 2013 annual and fourth quarter revenue includes housing revenue of $1,616 and $323, respectively. The Company had no housing revenue in 2014, having sold the last of its housing inventory during 2013 and ended its house building operations.

Consolidated HCI Holdings Corporation is an Ontario-based real estate and development company that trades on The Toronto Stock Exchange under the symbol "CXA.B"

SOURCE: Consolidated HCI Holdings Corporation

Mr. Arnold J. Resnick, CFO, 905-851-7741 (106)