Pacrim International Capital Inc. Announces Third Quarter Results for June 30, 2011

HONG KONG, Aug. 12, 2011 /CNW/ - PACRIM INTERNATIONAL CAPITAL INC. (TSX: PCN) ("Pacrim" or the "Company"), is pleased to report the Company's results for the third quarter ended June 30, 2011.

FOR THE THIRD QUARTER ENDED JUNE 30, 2011:

FINANCIAL HIGHLIGHTS


	3 months ended	June 30	9 months ended	June 30
	2011	2010	2011	2010
Revenue	$48,490	$17,628	$149,380	$48,017
Income (loss) from properties	($28,722)	($62,479)	($89,585)	($267,037)
Equity income from PICH	($156,000)	$414,000	$672,000	$1,095,000
Net income (loss)	($119,541)	$255,507	$307,480	$481,145
Funds from (used in) operations	$78,050	($899,515)	($213,597)	($2,709,953)
Total Assets	$46,504,568	$53,014,867	$46,504,568	$53,014,867
Income properties	$13,401,971	$15,864,324	$13,401,971	$15,864,324
Mortgages	$6,890,234	$7,217,244	$6,890,234	$7,217,244

Per Common Share

Net income (loss)	(0.002)	0.004	0.005	0.008

REVENUE:

Revenue for the third quarter increased by $30,862 to $48,490 when compared to the same period last year.

Rental Revenue:

The third quarter of the fiscal year income from rental properties was $48,641, increased by $33,131 compared to the same period last year. The increase was mainly due to renewal of new rental lease.

Interest and Other:

Interest and other income for the third quarter ended June 30, 2011 decreased by $2,269 to ($151) when compared to the same period last year. The decrease was mainly due to low interest bearing cash balance.

Equity Income from PICH:

The equity income from PICH is ($156,000) for the third quarter of fiscal 2011. The loss in the third quarter was mainly caused by the decrease in sales to one of the major customers of Wah Sang Paper Products (Shenzhen) Co., Ltd. due to relocation of that major customer. Wah Sang is taking steps to recapture the business of this customer from the customer's new location. The equity investment in PICH is based on the fair values of the assets and liabilities of PICH at the date of acquisition, November 14, 2008.

NET INCOME:

Net income for the third quarter decreased by $375,048 from $255,507 to ($119,541) when compared to the same period last year. The decrease was mainly due to the decrease of equity income from PICH.

The full financial statements for the 15 months ended September 30, 2010 and the third quarter ended June 30, 2011 and the related Management's Discussion & Analysis are available on the System for Electronic Document Analysis and Retrieval (SEDAR) and can be accessed electronically at [ www.sedar.com ].

Caution concerning forward-looking statements

Statements made in this news release, other than those concerning historical financial information, should be considered forward-looking and subject to various risks and uncertainties. Some forward-looking statements may be identified by words like "may", "will", "anticipate", "estimate", "expect", "intend" or "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on such statements, as actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include, but are not limited to: risks associated with China including state ownership, government sector intervention, foreign investment, repatriation of profit and currency conversion, tax, the developing legal system, protection of intellectual property rights, shareholder rights and enforcement of judgments, permits and business licenses, appropriation, political stability considerations, the central planned economy, fluctuations in foreign exchange rates and Chinese accounting and auditing standards; risks in business and operations including risks associated with expansion, future capital requirements, dependence on key personnel, environmental regulation, competition, risk in purchasing abroad, risk of change in the price of raw materials, product price volatility, insurance and operating plant risk; customer risk including risk of a single market and risk depending on major customers; technical risk including risk in the advance of technology and risk of relying on technology abroad; financial risk including foreign exchange risk, credit risk, liquidity risk, cash flow and fair value interest rate risk; investment strategy risk; and short term management transition risk.

We caution that the foregoing list of factors is not exhaustive and that when reviewing our forward-looking statements, investors and others should refer to the "Risk Factors" section of Pacrim's Annual Information Form, the "Risks and Uncertainties" and other sections of our Management's Discussion and Analysis, the "Risk Factors" section of Schedule "A" to our Business Acquisition Report of January 28, 2009 and our other periodic filings with Canadian securities regulatory authorities. All forward-looking statements presented herein should be considered in conjunction with such filings. Except as required by Canadian securities law, we do not undertake to update any forward-looking statements, whether written or oral, that may be made from time-to-time by us or on our behalf; such statements speak only as of the date made.

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Pacrim International Capital Inc. Announces Third Quarter Results for June 30, 2011