WINNIPEG, MB--(Marketwired - April 08, 2016) - Gendis Inc. (TSX: GDS) today announced its financial results for the 4^th quarter and fiscal year ended January 31, 2016.

Revenue for the 4^th quarter was $1,285,000 compared to $1,528,000 for last year's 4^th quarter. Revenue less expense for the 4^th quarter was $531,000 compared to $188,000 for last year's 4^th quarter. The net loss for the 4^th quarter was $6,586,000 ($0.52 per share) compared to a net loss of $7,423,000 ($0.57 per share) for last year's 4th quarter.

Revenue for the year was $5,429,000 compared to $5,849,000 last year. Revenue less expense for the year was $1,620,000 compared to $2,203,000 last year. The net loss for the year was $16,977,000 ($1.32 per share) compared to a net loss of $1,481,000 ($0.11 per share) for last year.

The volatility in net earnings quarter over quarter and for the year over year is primarily due to the change in fair value of security investments, primarily the Company's investments in Veresen, Osum and Input Capital, and the investment properties with the attendant effect on deferred income taxes. The decline in revenue and in revenue less expense was primarily due to a significant vacancy in the Company's industrial property that occurred in the 2^nd quarter of the year.

Condensed summarized information is as follows:

The Company holds a portfolio of commercial and industrial real estate properties in Canada, investments in exchange-traded securities and investments in the securities of private enterprises. Security investments are primarily in companies involved in pipelines and power plants, oil and gas development, canola crop marketing, agricultural crop protection & fertilizer delivery solutions and fertilizer production. The investments are held for income generation and long-term capital growth. The Company's business is organized in two operating segments, the Corporate operations and the Realty operations.

Gendis Inc.
Notes to the unaudited Interim condensed Financial Statements
For the periods ended January 31
(All tabular amounts in thousands of Canadian dollars unless otherwise stated)

1. General information
General information on Gendis Inc. is the same as disclosed in Note 1 to the complete audited annual financial statements for the year ended January 31, 2016, which have been prepared in accordance with International Financial Reporting Standards. These interim condensed financial statements are presented in Canadian dollars, which is the Company's functional and presentation currency. The principal accounting policies applied in the preparation of these interim condensed financial statements are the same as set out in Note 2 to the complete audited annual financial statements for the year ended January 31, 2016. These policies have been consistently applied to all periods presented.

2. Investment in securities

3. Investment properties

4. Credit facilities

5. Subsequent Event
On March 3, 2016, the Company declared a regular dividend of 2.5¢ per share to shareholders of record March 18, 2016, payable April 8, 2016.

6. Operating segments