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Badger Income Fund announces a 26 percent increase in revenues and results for the first quarter ended March 31, 2008
TSX-BAD.UN CALGARY, May 14 /CNW/ - Badger Income Fund (the "Fund" or "Badger") is pleased to anno...
About this update from Badger Infrastructure Solutions Ltd
[{"type":"text","content":"\n\n\n\nTSX-BAD.UN\n\n\nCALGARY, May 14 /CNW/ - Badger Income Fund (the "Fund" or "Badger") is\npleased to announce its financial and operating results for the quarter ended\nMarch 31, 2008. Overall revenues increased by approximately 26 percent to\n$34.8 million for the first quarter of 2008 from $27.6 million for the same\nperiod in 2007, due to a 29 percent increase in Canadian revenues and a 20\npercent increase in United States revenues. As a result of the increase in\nrevenues, EBITDA and funds generated from operations also increased over the\nsame period of 2007. Badger's EBITDA increased to $10.0 million in the first\nquarter of 2008 from $7.8 million in the same quarter of 2007, while funds\ngenerated from operations increased to $9.7 million in the first quarter of\n2008 from $7.6 million in the same quarter of 2007.\n\n\nFINANCIAL HIGHLIGHTS\n\n($ thousands, except per unit and total units outstanding information)\n\n Three months ended Three months ended\n March 31, 2008 March 31, 2007\n -----------------------------------\n\nRevenues 34,774 27,574\nEBITDA(1) 10,045 7,849\nEarnings before income taxes 6,777 5,217\nTaxes\n Current 254 187\n Future 1,240 801\nNet earnings 5,283 4,230\nNet earnings per unit - diluted ($) 0.49 0.39\nFunds generated from operations(2) 9,687 7,585\nFunds generated from operations\n per unit - diluted ($) 0.89 0.70\nMaintenance capital expenditures(3) - 667\nLong-term debt repayments 55 27\nCash available for growth and\n distribution(4) 9,967 7,015\nCash distributions declared 3,391 3,389\nGrowth capital expenditures(3) 5,451 2,153\nTotal units outstanding 10,773,419 10,758,618\n\n\nThe following financial measures do not have any standardized meaning\nprescribed by Canadian generally accepted accounting principles (GAAP) and may\nnot be comparable to similar measures as presented by other funds or entities:\n\n\n(1) Earnings before interest, taxes, depreciation and amortization\n(EBITDA) is a measure of the Fund's operating profitability and is therefore\nuseful to management and investors. EBITDA provides an indication of the\nresults generated by the Fund's principal business activities prior to how\nthese activities are financed, assets are amortized or how the results are\ntaxed in various jurisdictions. EBITDA is calculated from the Consolidated\nStatements of Ea...