Business
Badger Daylighting Ltd. Announces Results for the Three Months Ended March 31, 2013 and Promotion of John Kelly to Executive Vice President - United States
Badger Daylighting Ltd. Announces Results for the Three Months Ended March 31, 2013 and Promot...
About this update from Badger Infrastructure Solutions Ltd
[{"type":"text","content":"\nBadger Daylighting Ltd. Announces Results for the Three Months Ended March 31, 2013 and Promotion of John Kelly to Executive Vice President - United States\n\nBadger Daylighting Ltd. Announces Results for the Three Months Ended March 31, 2013 and Promotion of John Kelly to Executive Vice President - United States\nCalgary, Alberta CANADA, May 13, 2013 /FSC/ - Badger Daylighting Ltd. (BAD - TSX), (the \"Company\" or \"Badger\") is pleased to announce its results for the three months ended March 31, 2013 and the promotion of John Kelly to Executive Vice President - United States.  Mr. Kelly joined Badger in September 2011 as Vice President of United States Operations.  This promotion recognizes Mr. Kelly's added responsibilities and the leadership role he has in running Badger's United States operations.  \nHighlights for the three months ended March 31, 2013:\n* Revenues increased by approximately 28 percent to $69.2 million from $54.0 million for the comparable quarter of 2012 due to a 27 percent increase in Canadian revenues and a 29 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 35 percent to $17.9 million from $13.3 million in the same quarter of 2012;\n* Funds generated from operations increased by approximately 45 percent period-over-period to $15.6 million from $10.8 million in the comparable quarter of 2012;\n* EBITDA margins in Canada decreased to 25 percent from 28 percent for the comparable period of last year due to an additional accrual of $1.1 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, which increased due to the increase in Badger's share price. EBITDA margins in the United States increased to 27 percent from 20 percent for the comparable period of  last year due to improvements in operational efficiencies; and\n* Badger had 670 daylighting units at the end of the first quarter of 2013, reflecting the addition of 41 daylighting units to the fleet to date in 2013 and the retirement of one unit.  Of the total, 324 units were operating in Canada and 346 in the Uni...