Badger Income Fund Announces Third Quarter 2007 Results, Which Includes a 25 Percent Quarterly Increase in Revenues

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[{"type":"text","content":"\n\n\n\nTSX-BAD.UN\n\n\nCALGARY, Nov. 13 /CNW/ - Badger Income Fund (the "Fund" or "Badger") is\npleased to announce its results for the third quarter of 2007. Overall\nrevenues increased by approximately 25 percent to $31.7 million for the three\nmonths ended September 30, 2007 from $25.3 million for the same period in\n2006, due to a 29 percent increase in Canadian revenues and an 18 percent\nincrease in United States revenues. As a result of the increase in revenues,\nEBITDA and funds generated from operations also increased over the same period\nof 2006. Badger's EBITDA increased to $9.2 million in the third quarter from\n$7.5 million in the same quarter of 2006.\n\n\nFINANCIAL HIGHLIGHTS\n\n\n($ thousands, except per unit results and total units outstanding\nfigures)\n\n Three Months Ended Nine Months Ended\n September 30 September 30\n 2007 2006 2007 2006\n ---------------------------------------------------\nRevenues 31,742 25,324 84,332 72,749\nEBITDA(1) 9,202 7,504 23,393 21,589\nEarnings before income\n taxes 6,225 5,281 15,020 14,987\nTaxes\n Current 296 194 619 504\n Future 793 1,112 3,495 2,646\nNet earnings 5,136 3,975 10,906 11,837\nNet earnings per unit -\n diluted ($) 0.48 0.37 1.01 1.10\nFunds generated from\n operations(2) 9,219 7,269 23,312 21,035\nFunds generated from\n operations per unit -\n diluted ($) 0.86 0.68 2.17 1.96\nMaintenance capital\n expenditures(3) 624 1,272 2,255 3,170\nLong-term debt\n repayments 27 27 82 82\nCash available for\n growth and\n distribution(4) 8,567 6,153 21,236 18,497\nCash distributions\n declared 3,390 3,388 10,168 9,858\nGrowth capital\n expenditures(3) 2,120 2,870 7,185 10,653\nTotal units\n outstanding, end of\n period 10,761,668 10,758,618 10,761,668 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(1) Earnings before interest, taxes, depreciation and amortization\n(EBITDA) is a measure of the Fund's operating profitability and is\ntherefore useful to management and investors. EBITDA provides an\nindication of the results generated by the Fund's principal business\nactivities prior to how these activities are financed, assets are\namortized or the result...

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