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Cathedral Energy Services reports results for 2007 Q4 and the year ended December 31, 2007
/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/ CALGARY, March 6 /CNW/ - Cathedral Energy...
About this update from Act Energy Technologies Ltd.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/\n\n\nCALGARY, March 6 /CNW/ - Cathedral Energy Services Income Trust (the\n"Trust" / TSX: CET.UN) is pleased to report its results for 2007 Q4 and the\nyear-end December 31, 2007. Dollars are in '000's except for day rates and per\nTrust Unit amounts.\n\n\nFINANCIAL HIGHLIGHTS\n\n\n Three months ended Years ended\n December 31 December 31\n ----------------------- -----------------------\n 2007 2006 2007 2006\n-------------------------------------------------------------------------\nRevenues $ 39,054 $ 35,327 $ 145,106 $ 138,254\n\nEBITDAS(1) $ 13,707 $ 13,046 $ 46,731 $ 52,793\n Per Trust Unit - diluted $ 0.43 $ 0.42 $ 1.47 $ 1.68\n\nIncome before taxes $ 9,772 $ 9,573 $ 31,990 $ 39,679\n\nNet income $ 10,365 $ 8,127 $ 24,863 $ 35,348\n Per Trust Unit - basic $ 0.33 $ 0.26 $ 0.79 $ 1.16\n Per Trust Unit - diluted $ 0.33 $ 0.26 $ 0.78 $ 1.12\n\nCash distributions declared\n per Trust Unit $ 0.21 $ 0.26 $ 0.84 $ 0.805\n\nDistributable cash(2) $ 12,043 $ 11,283 $ 38,993 $ 45,972\n\nCash distributions\n declared $ 6,649 $ 8,026 $ 26,405 $ 24,681\n\nPayout ratio(3) 55% 71%(4) 68% 54%(4)\n\nProperty and equipment\n additions and corporate\n acquisitions:\n Paid or payable in cash $ 5,205 $ 4,448 $ 19,857 $ 26,436\n Paid or payable in\n Trust Units - 320 - 1,820\n ----------- ----------- ----------- -----------\n $ 5,205 $ 4,768 $ 19,857 $ 28,256\n ----------- ----------- ----------- -----------\n\nWeighted average Trust\n Units outstanding:\n Basic ('000) 31,652 30,831 31,402 30,578\n Diluted ('000) 31,836 31,316 31,781 31,423\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\n\n\n December 31 December 31\n 2007 2006\n-------------------------------------------------------------------------\nWorking capital $ 16,947 $ 15,051\n\nLong-term debt and capital\n lease obligations excluding\n current portion $ 17,441 $ 15,552\n\nUnitholders' equity $ 79,250 $ 76,223\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\n(1) EBITDAS, earnings before interest on long-term debt and capital lease\n obligations, taxes, depreciation, amortization and non-cash\n compensation expens...