Consolidated HCI Holdings Corporation Announces Its 2018 Third Quarter Results

WOODBRIDGE, ON, Aug. 14, 2018 /CNW/ - Consolidated HCI Holdings Corporation today announced its fiscal 2018 third quarter results.

	3 months ended June 30		9 months ended June 30
	2018	2017	2018	2017
($000's except earnings per share)
Revenue	$22	$264	$59	$943
Net earnings (loss) for the period	$(74)	$ 1,705	$(278)	$2,181
Earnings (loss) per share	$   -	$ 0.09	$(0.01)	$0.11

Net earnings for the first nine months of 2018 include foreign exchange gains of $110 and $56 of cost recoveries from the Company's house building co-tenancies which were wound up in the third quarter.

Net earnings for the first nine months of 2017 include a $1,814 gain on the sale of a marketable security investment, rental revenue from the Company's investment properties of $864 and fair value gains on those investment properties of $793. As previously reported, the investment properties were sold on June 30, 2017.

With the sale of its investment properties in 2017, the Company discontinued and divested a substantial portion of its operations and ceased to be actively engaged in ongoing business.

Consolidated HCI Holdings Corporation is an Ontario-based company that trades on the TSX Venture Exchange (NEX) under the symbol "CXA.H"

SOURCE Consolidated HCI Holdings Corporation

Mr. Arnold J. Resnick, CPA, CA, Chief Financial Officer, 905-851-7741 (106)