Business
Correction - Badger Daylighting Ltd. Announces Results for the Third Quarter Ended September 30, 2012 and a Dividend Increase
Correction - Badger Daylighting Ltd. Announces Results for the Third Quarter Ended September 3...
About this update from Badger Infrastructure Solutions Ltd
[{"type":"text","content":"\nCorrection - Badger Daylighting Ltd. Announces Results for the Third Quarter Ended September 30, 2012 and a Dividend Increase\n\nCorrection - Badger Daylighting Ltd. Announces Results for the Third Quarter Ended September 30, 2012 and a Dividend Increase\nIn previous version of press release, Interim Condensed Consolidated Financial Statements (unaudited) were inadvertently not attached. There are no other changes to the document.\nCalgary, Alberta CANADA, November 12, 2012 /FSC/ - Badger Daylighting Ltd. (BAD - TSX)(the \"Company\" or \"Badger\"),is pleased to announce its financial and operating results for the nine and three months ended September 30, 2012.\nIt should be noted in comparing the results for the three months ended September 30, 2012 to the three months ended September 30, 2011 that the quarter ended September 30, 2011 was an exceptional quarter for Badger and although EBITDA margins and gross profit margins decreased in the third quarter of 2012 from the third quarter 2011, the third quarter of 2012 was a strong quarter. \nHighlights for the three months ended September 30, 2012:\n* Revenues increased by approximately 15 percent to $62.0 million from $53.9 million for the comparable quarter of 2011 due to 15 percent increases in each of Canadian and United States revenues;\n* EBITDA increased by approximately 8 percent to $16.5 million from $15.3 million in the same quarter of 2011;\n* Funds generated from operations decreased by approximately 9 percent period-over-period to $13.6 million from $15.0 million in the comparable quarter of 2011 due to the increase in cash taxes as a proportion of total tax expense;\n* EBITDA margins in Canada decreased to 28 percent from 30 percent for the comparable period of last year due to additional costs associated with incentive compensation due to the increase in the price of Badger's shares.  EBITDA margins in the United States decreased to 25 percent from 26 percent in the third quarter of 2011 due to lower margins in certain oil and natural gas industry locations;\n* Badger had 600 daylighting units at the end of the third quarter of 2012, reflecting the addition of 100 daylighting units to the fleet to date in 2012 and the retirement of four units.  Of the total, 289 units were operating in Canada and 311 in the United States at quarter-end. &#...