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Badger Income Fund Announces Results for the Second Quarter Ended June 30, 2010
Badger Income Fund Announces Results for the Second Quarter Ended June 30, 2010
About this update from Badger Infrastructure Solutions Ltd
[{"type":"text","content":"\nBadger Income Fund Announces Results for the \tSecond Quarter Ended June 30, 2010\n\n\n Aug. 11, 2010 (Filing Services Canada) -- Badger Income Fund (BAD.UN - TSX), (the \"Fund\" or \"Badger\") is pleased to announce its financial and operating results for the three-month and six-month periods ended June 30, 2010. Revenues of $29.4 million for the three months ended June 30, 2010 were virtually unchanged from $29.5 million for the three months ended June 30, 2009. Canadian revenues increased by 4 percent period-over-period while United States revenues decreased by 6 percent (removing the effect of the change in the foreign exchange rate, United States revenues increased by 7 percent period-over-period). The Fund's quarterly EBITDA and funds generated from operations increased slightly from the same period in 2009. Badger's EBITDA increased to $6.6 million for the three months ended June 30, 2010 from $6.5 million in the same quarter of 2009, while funds generated from operations increased to $6.6 million from $6.4 million in the comparable quarter of 2009.Badger had 407 daylighting units at the end of the second quarter of 2010, unchanged from the end of 2009, reflecting the addition of eight daylighting units to the fleet to date in 2010 and the retirement of eight units. Of the total, 227 units were operating in Canada and 180 in the United States at quarter-end.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. Revenue and expense variance analysis in the MD&A focuses primarily on the year-over-year changes during the second quarter. Year-over-year variances for the six months ended June 30, 2010 and 2009 are explained by the same general factors which contributed to the second quarter variance, unless otherwise indicated.This MD&A has been prepared taking into consideration information available to August 10, 2010.Cautionary Statement Regarding Forwar...