Belzberg climbs out of hole; year-end profits and revenues up

Highlights for the 2005 fourth quarter and fiscal year included:

• Record fourth quarter 2005 net earnings of $1.7 million, up by 300% from a net loss of $0.8 million in the same year-ago quarter. Fiscal 2005 net earnings increased to a record $4.1 million up by 400% from a net loss of $1.4 million for the prior year
  
• Record fourth quarter 2005 diluted earnings per share of $0.12 up from a loss per share of $0.06 in the same year-ago quarter. Fiscal 2005 diluted earnings per share increased to $0.30 per share up from a loss of $0.10 per share for the prior year
  
• Record fourth quarter 2005 revenue of $9.0 million, up by 38% from $6.5 million in the same year-ago quarter and up by 8% from third quarter 2005 revenue of $8.3 million. Fiscal 2005 revenue increased to a record $33.0 million up by 27% from revenue of $25.9 million for the prior year
  
• Average daily volume of electronic equity and index options contracts traded increased by 178% to 214,000 electronic option contracts in the fourth quarter of 2005 compared to 77,000 contracts in the same year-ago quarter
  
• Average daily volume of equity order flow executed by Belzberg's wholly owned U.S. broker-dealer subsidiary increased by 36% to 30.8 million shares in the fourth quarter of 2005 compared to 22.7 million shares in the same year-ago quarter
  
• Improved financial position with cash and cash equivalents of $7.1 million and working capital of $10.5 million at December 31, 2005, up from cash and cash equivalents of $4.1 million and working capital of $5.2 million at December 31, 2004.