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Badger Income Fund Announces Results for the Third Quarter Ended September 30, 2009
Badger Income Fund Announces Results for the Third Quarter Ended September 30, 2009
About this update from Badger Infrastructure Solutions Ltd
[{"type":"text","content":"\nBadger Income Fund Announces Results for the Third Quarter Ended September 30, 2009\n\n\n Nov. 11, 2009 (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 nine-month periods ended September 30, 2009. Revenues for the three months ended September 30, 2009 decreased by approximately 12 percent to $35.0 million from $40.0 million for the same period in 2008, due to a 21 percent decrease in Canadian revenues partially offset by a 3 percent increase 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 of 2008. Badger's EBITDA decreased to $9.9 million for the three months ended September 30, 2009 from $12.2 million in the same quarter of 2008, while funds generated from operations decreased to $8.3 million in the third quarter of 2009 from $11.3 million in the comparable quarter of 2008. Badger had 413 daylighting units at September 30, 2009, reflecting the addition of 26 daylighting units to the fleet to date in 2009 and the retirement of 26 units. The Fund had 413 daylighting units at December 31, 2008. FINANCIAL HIGHLIGHTS($ thousands, except per unit and total units outstanding information)-------------------------------------------------------------------------                          Three Months Ended \t          Nine Months Ended\t\t                 September 30                  September 30                         2009      \t2008\t         2009\t      2008-------------------------------------------------------------------------Revenues               35,005&#x...