Business
Cathedral Energy Services reports results for the three and nine months ended September 30, 2007
/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/ CALGARY, Nov. 12 /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, Nov. 12 /CNW/ - Cathedral Energy Services Income Trust (TSX:\nCET.UN) is pleased to report its results for the three and nine months ended\nSeptember 30, 2007.\n\n\nFINANCIAL HIGHLIGHTS\n$ in 000's except per\n Trust Unit amounts Three months ended Nine months ended\n September 30 September 30\n ------------------- ------------------\n 2007 2006 2007 2006\n-------------------------------------------------------------------------\nRevenues $ 38,355 $ 38,041 $ 106,052 $ 102,927\nEBITDA(1) $ 13,775 $ 16,010 $ 33,024 $ 39,747\n Per Trust Unit - diluted $ 0.43 $ 0.51 $ 1.04 $ 1.26\nIncome before taxes $ 10,073 $ 12,671 $ 22,218 $ 30,106\nNet Income $ 7,126 $ 11,396 $ 14,498 $ 27,221\n Per Trust Unit - basic $ 0.23 $ 0.37 $ 0.46 $ 0.89\n Per Trust Unit - diluted $ 0.22 $ 0.36 $ 0.46 $ 0.86\nCash distributions declared\n per Trust Unit $ 0.21 $ 0.20 $ 0.63 $ 0.545\nDistributable Cash(2) $ 10,747 $ 14,211 $ 26,950 $ 34,683\nCash distributions declared $ 6,626 $ 6,150 $ 19,756 $ 16,655\nPayout ratio(3) 62% 43% 73% 48%\nProperty and equipment\n additions and corporate\n acquisitions:\n Paid or payable in cash $ 4,364 $ 6,950 $ 14,652 $ 21,988\n Paid or payable in Trust\n Units - - - 1,500\n --------- --------- --------- ---------\n $ 4,364 $ 6,950 $ 14,652 $ 23,488\n --------- --------- --------- ---------\nWeighted average Trust Units\n outstanding:\n Basic ('000) 31,515 30,730 31,318 30,493\n Diluted ('000) 31,734 31,478 31,735 31,580\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\n\n\n September December\n 30, 2007 31, 2006\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\nWorking capital $ 14,941 $ 15,051\nLong-term debt and capital lease obligations\n excluding current portion $ 17,471 $ 15,552\nUnitholders' equity $ 75,012 $ 76,223\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\n\n(1) EBITDA is defined as earnings before interest on long-term debt and\n capital lease obligations, taxes, non-cash compensation expense and\n depreciation and amortization and...