Gendis Inc. (GDS.TO: Quote) reported that its fourth-quarter net earnings were C$17.8 million compared to C$1.3 million for last year's fourth-quarter. The increase in earnings is due to the settlement with the Canada Revenue Agency on a long outstanding tax matter and the fair value increase in the investment in OSUM based on OSUM's recent equity financing.
Net earnings from operations per share increased to C$1.28 from C$0.09 last year.
Revenue for the quarter was C$1.4 million compared to C$1.6 million in the year ago quarter.
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by RTT Staff Writer
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