New Millennium Iron Corp. Announces Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Announces Management Appointments
For the year, the company's net loss for the year ended December 31, 2012, was $9,062,000 or $0.05 per share compared to a net income of $21,136,000 or $0.12 per share for the 2011 fiscal year. The most significant item in comparing the 2012 fiscal year's net loss to the income for the prior year is the 2011 gain on sale of the DSO Properties of $31,162,000 for which there was no corresponding transaction in the current period. Investment income of $1,092,000 against $845,000 a year ago.
The company announced the appointment of Mr. Rock Gagnon as Vice President, Process and Plant Engineering; and the appointment of Newfoundland businesswoman Ms. Cathy Bennett as an independent director to the Board of Directors.