Thu, August 5, 2010
Wed, August 4, 2010
Tue, August 3, 2010

Tricon Announces Second Quarter 2010 Results

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 Highlights: - Initial Public Offering (IPO) completed on May 20, 2010, raising gross proceeds of approximately $69 million; 18,240,871 common shares outstanding at June 30, 2010. - Additional investments were made in U.S. distressed fund Tricon IX and Canadian fund Tricon X during the quarter. Tricon expects to commence fundraising for a successor Canadian fund by the end of 2010 and a successor U.S. fund by Q1 2011. - Adjusted EBITDA of $1,379,000 was stable compared to same period last year. - Dividends in the aggregate annual amount of $0.24 per share are to be declared and paid quarterly commencing the quarter ending September 30, 2010. The dividend yield based on the August 3rd, 2010 price of $5.50 per share is 4.4%. 
 Three Months Ended Six Months Ended June 30 June 30 ----------------------------- ----------------------------- 2010 2009 2010 2009 ------------------------------------------------------------------------- Assets Under Management 978,532,000 1,002,069,000 Revenue 3,087,000 2,909,000 6,315,000 5,740,000 Adjusted EBITDA 1,379,000 1,474,000 3,057,000 3,078,000 Net Income (Loss) (1) (9,287,000) (92,000) (9,090,000) 91,000 Adjusted Net Income 266,000 713,000 1,270,000 1,629,000 Net Income (Loss) - Per Share (0.82) (0.01) (0.95) 0.02 Adjusted Net Income - Per Share 0.02 0.09 0.13 0.21 ------------------------------------------------------------------------- (1) Net Income includes several Non-Recurring items, including a significant LTIP accrual as mandated by IFRS. Please see MD&A for additional detail.