Alaris Royalty Corp.  Consolidated statement of comprehensive income  Alaris Royalty Corp. 2011 Annual Report   19  Years ended Dec 31  Note 2011 2010 Revenues  Royalties and distributions 5 $21,497,960 $16,657,034  Interest and other  68,408  2,190  Gain on reduction of partner interests  5  23,815,973  - Gain on sale of intangible assets  5  3,891,560  -  Total Revenue  49,273,901 16,659,224 Salaries and benefits 11 1,875,508 1,060,915 Corporate and office  859,727  626,990  Legal and accounting fees 556,621 443,262 Non-cash stock-based compensation 10,11 1,978,727 1,817,981 Depreciation and amortization  143,244  190,028  Subtotal  5,413,827 4,139,176 Earnings from operations  43,860,074 12,520,048 Finance cost  1,235,348  1,707,713  Unrealized foreign exchange loss  183,060  -  Earnings before taxes  42,441,666 10,812,335  Deferred income tax expense  6  7,661,200  3,411,119  Current income tax expense  6  68,022  -  Earnings  34,712,444 $7,401,216  Other comprehensive income  Net change in fair value of Preferred LP units 5 1,093,437 14,381,679 Tax impact of change in fair value  (136,679)  (1,797,710)  Realized gain on reduction of partnership interest  5  (24,015,973)  -  Tax impact of realized gain  3,001,997  -  Foreign currency translation differences  (124,947)  -  Other comprehensive income for the period, net of  income tax  (20,182,165) 12,583,969 Total comprehensive income for the period  $ 14,530,279  $ 19,985,185 Earnings per share  Basic earnings per share  $2.04  $0.56  Fully diluted earnings per share  $1.97  $0.54  Weighted average shares outstanding  Basic 17,036,346  13,104,165  Fully Diluted 17,595,740  13,651,879 