Northern Frontier Corp. Announces its Second Quarter 2014 Financial Results

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[{"type":"text","content":"\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS\n NOT AUTHORIZED FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES\n OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, Aug. 18, 2014 /CNW/ - Northern Frontier Corp. (TSX-V: FFF) (the\n \"Corporation\" or \"Northern Frontier\") is pleased to announce its second quarter 2014 financial results.\n\n\nFinancial Results\n\n\nFor the three months ended June 30, 2014 (\"Q2 2014\"), management continued to focus on developing its civil service and\n logistics business, evaluating our pipeline of acquisition\n opportunities and sourcing the capital to execute on our growth\n strategy. During Q2 2014 Northern Frontier:\n\n\n\ngenerated revenue of $11.6 million, a decrease of $6.3 million or 36%\n from the three months ended March 31, 2014 (\"Q1 2014\");\n\n\nrealized EBITDA of $0.8 million (7% of revenue) as compared to $3.5\n million (20% of revenue) for Q1 2014;\n\n\nnegotiated the proposed acquisition of Central Water and Equipment\n Services Ltd. (\"Central Water\"); and\n\n\nwas evaluating financing options to restructure the Corporation's\n balance sheet and to close the acquisition of Central Water.\n\n\n\nSelected Financial Information\n\n\n\n\n \n\n\n\n\n(in 000's CAD, except as noted)\n\n\n3 months ended \nJun 30, 2014\n\n\n3 months ended \nJun 30, 2014\n\n\n6 months ended \n Jun 30, 2014\n\n\n7 months ended \n Jun 30, 2013\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nRevenue\n\n\n$\n\n\n  11,572\n\n\n$\n\n\n            -\n\n\n$\n\n\n  29,431\n\n\n$\n\n\n           -\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nGross Profit\n\n\n \n\n\n1,946\n\n\n \n\n\n-\n\n\n \n\n\n6,479\n\n\n \n\n\n-\n\n\n\n\n  as a % of revenue\n\n\n \n\n\n17%\n\n\n \n\n\nN/A\n\n\n \n\n\n22%\n\n\n \n\n\nN/A\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nEBITDA (1)\n\n\n \n\n\n814\n\n\n \n\n\n(24)\n\n\n \n\n\n4,298\n\n\n   \n\n\n(140) \n\n\n\n\n...

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