Malaga Reports Financial Results for Third Quarter 2011

Malaga Inc. (TSX:MLG,OTCQX:MLGAF) reported its financial results today for the quarter ended September 30, 2011.

As quoted in the press release:

For the third quarter of 2011, Malaga generated a net income of $2.0 million ($0.01 earnings per share), for an increase of $2.9 million compared to a net loss of $0.9 million ($0.01 net loss per share) in the same quarter of 2010. This performance resulted from an average reference selling price increase per MTU of $214 (89%), from $240 in Q3-2010 to $454 in Q3-2011, and a $1.3 million gain on the revaluation of the warrants. Adjusted net income amounted to $0.6 million in Q3-2011 compared to a loss of $0.6 million in Q3-2010.

Click here to read the Malaga Inc. (TSX:MLG) press release.