Gendis has reported revenue $0.4 million for the fourth quarter 2008, compared with the $0.9 million year-ago quarter. The decline in revenue quarter over quarter is mainly because of $0.8 million of reduced share of earnings of Fort Chicago offset by $0.2 million from increased tenancy in the Sony Place facility.
The company has reported net loss of $0.7 million, or $0.05 per share, for the fourth quarter of 2008, compared with the net loss of $0.3 million, or $0.02 per share, in the year-ago quarter. The raise in the loss quarter over quarter is mainly because of a decrease in future tax recoveries of $1.5 million from the change in the valuation allowance, a decline in revenue of $0.5 million, counterbalanced by the change in realized losses net of fair value changes of investments of $1.5 million.
Gendis reported that increase in revenue year over year is mainly due to $0.5 million from increased tenancy in the Sony Place facility, $0.2 million of reduced share of loss of Thunder Energy counterbalanced by $0.5 million of reduced share of earnings of Fort Chicago.
The company has reported that increase in the loss year over year is mainly due to realized losses net of fair value changes of investments of $2.3 million, a decrease in future tax recoveries of $1.5 million from the change in the valuation allowance, the early recognition of a post employment benefit obligation of $0.7 million counterbalanced by the non recurrence of the loss on sale of a note receivable of $2.2 million in 2008.
