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Badger Income Fund announces results for the year ended December 31, 2006
Badger Income Fund announces results for the year ended December 31, 2006.
About this update from Badger Infrastructure Solutions Ltd
[{"type":"text","content":"\n\n\n\nTSX-BAD.UN\n\n\nCALGARY, March 22 /CNW/ - Badger Income Fund ("Badger" or the "Fund") is\npleased to announce its results for the year and three months ended\nDecember 31, 2006.\n\n\nFinancial Highlights\n($ thousands, except per unit and total units outstanding information)\n\n Three Three\n Months Months Year Year\n Ended Ended Ended Ended\n December 31 December 31 December 31 December 31\n 2006 2005 2006 2005\n ----------------------------------------------------\n\nRevenue 25,622 23,094 98,371 83,332\n\nEBITDA(1) 7,307 6,845 28,895 24,794\n\nEarnings before\n income taxes 4,845 4,670 19,832 16,980\n\nTaxes\n Current 183 92 687 173\n Future 3 1,110 2,648 2,026\n\nNet earnings 4,659 3,468 16,497 14,781\n\nNet earnings per unit\n - diluted 0.43 0.32 1.53 1.38\n\nFunds generated from\n operations(2) 6,820 6,890 27,855 24,534\n\nFunds generated from\n operations per unit\n - diluted 0.63 0.64 2.59 2.30\n\n\nMaintenance capital\n expenditures(3) - 978 3,170 1,955\n\nLong-term debt\n repayments 27 201 109 1,274\n\nCash available for\n growth and\n distribution(4) 6,794 6,108 25,291 21,778\n\nCash distributions\n declared 3,389 3,144 13,246 11,166\n\nGrowth capital\n expenditures(3) 8,650 4,252 19,304 11,776\n\nTotal units\n outstanding 10,758,618 10,738,820 10,758,618 10,738,820\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(1) Earnings before interest, taxes, depreciation and amortization\n (EBITDA) is a measure of the Fund's operating profitability and is\n therefore useful to management and investors. EBITDA provides an\n indication of the results generated by the Fund's principal business\n activities prior to how these activities are financed, assets are\n amortized or how the results are taxed in various jurisdictions.\n EBITDA is calculated from the Consolidated Statements of Earnings and\n Retained Earnings as gross margin, less selling, general and\n administrative costs and foreign exchange loss (gain).\n\n(2) Funds generated from operations is used to assist management and\n investors in analyzing operating performance and leverage. It is not\n intended to represent operating cash flow or operating profit...