Onex Corp. said Monday that currency exchange losses on its U.S. cash and securities, combined with accounting charges, pulled it to a loss in the third quarter.
The Toronto-based private equity firm said it lost $77 million, or 60 cents a share, compared to a profit of $31 million, or 24 cents a share, a year earlier.
Onex said its revenues were up 25 per cent, or $1.2 billion, to $6.0 billion from $4.8 billion in the third quarter of 2006.
In June, Onex and U.S. private equity firm The Carlyle Group teamed up to buy Allison Transmission from GM for about $5.6 billion US.
Onex has also agreed to acquire Husky Injection Molding Systems in a transaction valued at $960 million.
After initially trading lower on Monday, shares of Onex regained ground to close with a gain of 31 cents at $36.50.
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