Business
Badger Daylighting Ltd. Announces Results for the Three Months Ended September 30, 2011 and Addition of Vice President United States Operations to Corporate Management Team
Badger Daylighting Ltd. Announces Results for the Three Months Ended September 30, 2011 and Addi...
About this update from Badger Infrastructure Solutions Ltd
[{"type":"text","content":"\nBadger Daylighting Ltd. Announces Results for the Three Months Ended September 30, 2011 and Addition of Vice President United States Operations to Corporate Management Team\n\nBadger Daylighting Ltd. Announces Results for the Three Months Ended September 30, 2011 and Addition of Vice President United States Operations to Corporate Management Team\nCalgary, Alberta CANADA, November 14, 2011 /FSC/ - Badger Daylighting Ltd. (BAD - TSX), (the \"Company\" or \"Badger\") is pleased to announce its results for the nine and three months ended September 30, 2011 and the appointment of John Kelly to the position of  Vice President of United States Operations.  With the recent and expected growth of Badger's United States business it is necessary to ensure Badger has the appropriate leadership in the United States.  Mr. Kelly will be based at the Pittsboro, Indiana office and be responsible for all of Badger's United States operations.  Derek Dillon continues as the Vice President of Canadian operations and is responsible for the ongoing operations and further development of Badger's Canadian business. \nHighlights for the three months ended September 30, 2011:\n* Revenues increased by approximately 39 percent to $53.9 million from $38.7 million for the comparable quarter of 2010 due to a 26 percent increase in Canadian revenues and a 59 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 2010;\n* EBITDA increased by approximately 51 percent to $15.3 million from $10.1 million in the same quarter of 2010;\n* Funds generated from operations increased by approximately 44 percent period-over-period to $15.0 million from $10.4 million in the comparable quarter of 2010; and\n* EBITDA margins in Canada increased to 30 percent from 28 percent for the comparable period of last year due to leveraging off the increase in revenues. EBITDA margins in the United States increased to 26 percent from 24 percent in the third quarter of 2010 due to the newer corporate locations generating more revenue allowing Badger to leverage off the prior costs of starting these locations.\nBadger had 478 daylighting units at the end of the third quarter of 2011, reflecting the addition of 68...