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Badger Daylighting Ltd. Announces Results for the Second Quarter Ended June 30, 2013
Badger Daylighting Ltd. Announces Results for the Second Quarter Ended June 30, 2013 Calgary...
About this update from Badger Infrastructure Solutions Ltd
[{"type":"text","content":"\nBadger Daylighting Ltd. Announces Results for the Second Quarter Ended June 30, 2013Badger Daylighting Ltd. Announces Results for the Second Quarter Ended June 30, 2013\nCalgary, Alberta CANADA, August 13, 2013 /FSC/ - Badger Daylighting Ltd. (BAD - TSX), is pleased to announce its results for the six and three months ended June 30, 2013  \nHighlights for the three months ended June 30, 2013:\n* Revenues increased by approximately 36 percent to $73.7 million from $54.0 million for the comparable quarter of 2012 due to a 33 percent increase in Canadian revenues and a 40 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 2012;\n* EBITDA increased by approximately 48 percent to $20.3 million from $13.7 million in the same quarter of 2012;\n* Funds generated from operations increased by approximately 49 percent period-over-period to $17.1 million from $11.5 million in the comparable quarter of 2012;\n* EBITDA margins in Canada decreased to 24 percent from 28 percent for the comparable period of last year substantially due to an additional accrual of $1.6 million of executive, director and employee incentive compensation to account for the increase in the obligation for payments under the company's Deferred Unit Plan, due to the increase in Badger's share price. EBITDA margins in the United States increased to 31 percent from 23 percent for the comparable period of  last year due to improvements in operational efficiencies; and\n* Badger had 707 daylighting units at the end of the second quarter of 2013, reflecting the addition of 84 daylighting units to the fleet to date in 2013 (41 units in the first quarter and 43 in the second quarter) and the retirement of seven units.  Of the total, 330 units were operating in Canada and 377 in the United States at quarter-end.  Badger had 277 units in Canada and 293 in the United States for a total of 570 units at June 30, 2012.  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 (MD&A) should be read in conjunction with the attached unaudited interim consolidated fina...