Media Coverage

Waterside Capital Corp.
Six-month loss narrows

By Tom Shean, The Virginian-Pilot, February 15, 2008

Waterside Capital, citing efforts to cut costs and increase investments, on Thursday reported a smaller net operating loss for the six months ended Dec. 31 and a modest gain on its investments. The Norfolk small-business investment company said its net operating loss from the period narrowed to $45,000 from $899,000 in the comparable period of 2006. The combination of net operating results and gains or losses on its investments generated a $161,000 increase in shareholders' equity from operations for the latest six-month period. In the comparable period of 2006, Waterside reported a $1.71 million drop in shareholders' equity from operations. For the latest six-month period, its net asset value per share edged up 2 percent to $5.04, Waterside said. Its share price rose 21 cents Thursday to close at $1.60.