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Badger Daylighting Ltd. Announces Results For The Second Quarter Ended June 30, 2011
Badger Daylighting Ltd. Announces Results For The Second Quarter Ended June 30, 2011 Calgary, ...
About this update from Badger Infrastructure Solutions Ltd
[{"type":"text","content":"\nBadger Daylighting Ltd. Announces Results For The Second Quarter Ended June 30, 2011\n\nBadger Daylighting Ltd. Announces Results For The Second Quarter Ended June 30, 2011\nCalgary, Alberta CANADA, August 11, 2011 /FSC/ - Badger Daylighting Ltd. (BAD - TSX), is pleased to announce its results for the six and three months ended June 30, 2011.\nHighlights for the three months ended June 30, 2011:\n* Revenues increased by approximately 46 percent to $42.8 million from $29.4 million for the comparable quarter of 2011 due to a 42 percent increase in Canadian revenues and a 52 percent increase in United States revenues. As a result of the increase in revenues, the Company's quarterly EBITDA and funds generated from operations also increased from the same period in 2011;\n* EBITDA increased by approximately 51 percent to $11.1 million (excluding the impact of the $1.1 million payment to Clean Harbors, Inc. discussed below) from $7.4 million in the same quarter of 2011;\n* Funds generated from operations increased by approximately 39 percent period-over-period to $9.2 million from $6.6 million in the comparable quarter of 2010. Removing the effect of the $1.1 payment to Clean Harbors, Inc. funds generated from operations increased by approximately 55 percent; and\n* EBITDA margins in Canada increased to 31 percent from 25 percent for the comparable period of last year due to leveraging off the increase in revenues. EBITDA margins in the United States decreased to 19 percent from 26 percent in the second quarter of 2010 due to less revenue than anticipated from the various corporate locations.\nBadger had 451 daylighting units at the end of the second quarter of 2011, reflecting the addition of 40 daylighting units to the fleet to date in 2011 and the retirement of one unit.  Of the total, 239 units were operating in Canada and 212 in the United States at quarter-end.  Badger had 412 daylighting units at December 31, 2010.  The new units were financed from cash generated from operations and existing credit facilities.\nManagement's Discussion and Analysis\nThe following Management's Discussion and Analysis (MDA) should be read in conjunction with the attached unaudited interim consolidated financial statements of Badger Daylighting Ltd. (the \"Company\" or \"Badger\").  The interim consolidated ...