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Badger Income Fund Announces Results for the First Quarter Ended March 31, 2010
Badger Income Fund Announces Results for the First Quarter Ended March 31, 2010
About this update from Badger Infrastructure Solutions Ltd
[{"type":"text","content":"\nBadger Income Fund Announces Results for the First Quarter Ended March 31, 2010\n\n\n May 12, 2010 (Filing Services Canada) -- Badger Income Fund (BAD.UN - TSX), (the \"Fund\" or \"Badger\") announces its financial and operating results for the quarter ended March 31, 2010. Revenues for the three months ended March 31, 2010 decreased by approximately 19 percent to $30.3 million from $37.4 million for the comparable quarter of 2009, due to a 14 percent decrease in Canadian revenues and a 24 percent decrease in United States revenues. As a result of the decrease in revenues, the Fund's quarterly EBITDA and funds generated from operations also decreased from the same period in 2009. Badger's EBITDA decreased to $7.7 million for the three months ended March 31, 2010 from $11.3 million in the same quarter of 2009, while funds generated from operations decreased to $6.9 million from $10.2 million in the comparable quarter of 2009.Badger had 407 daylighting units at the end of the first quarter of 2010, reflecting the addition of four daylighting units to the fleet to date in 2010 and the retirement of four units. Of the total, 229 units are operating in Canada and 178 in the United States. The Fund had 407 daylighting units at December 31, 2009.  Management's Discussion and AnalysisThe following Management's Discussion and Analysis (MD&A) should be read in conjunction with the attached unaudited interim consolidated financial statements of Badger. Readers should also refer to the audited consolidated financial statements and MD&A included in Badger's 2009 Annual Report. Additional information is also available on the Fund's website (www.badgerinc.com) and all previous public filings, including the Fund's Annual Information Form, may be found on SEDAR at www.sedar.com. This MD&A has been prepared taking into consideration information available to May 11, 2010.Cautionary Statement Regarding Forward-Looking Information and Statements Certain statements and information contained in this MD&A and other continuous disclosure documents of the Fund referenced herein, including statements related to the Fund's capital expenditures, projected growth, view and outlook toward margins, cash distributions, customer pricing, future market opportunities and statements, and information that contain words such as \"could\", \"should\", \"ca...