Bird Construction Income Fund announces strong 2010 first quarter financial results and May, June and July 2010 distributions

About this update from Bird Construction Inc.

[{"type":"text","content":"\n\n\n\n May 10, 2010 (Canada NewsWire Group) -- LISTING: TORONTO STOCK EXCHANGE\n\nSYMBOL: BDT.UN\n\n Bird Construction Income Fund today reported strong 2010 first quarter financial results. Paul Raboud, the C.E.O. of Bird, stated that "the strong financial performance of the Fund was partially based on the execution of contracts relating to infrastructure projects and demonstrates a leadership position that we are developing in this market. The reduction in construction revenues compared to last year is primarily due to a reduction of construction activity in the Alberta oil sands and in the commercial sector company wide. While we are now beginning to see some signs of a recovery in both sectors, we do not expect to see any significant impact on our financial results until 2011. Our Backlog stands at $844 million and does not include two PPP construction contracts awarded in April 2010, which will add approximately $175 million to the March 31, 2010 backlog."\n\n\n >\n\n\nBird Construction Income Fund also announced that its Board of Trustees has approved its regular cash distributions for the months of May, June and July 2010 in the amount of $0.15 per unit each month to be paid as follows:\n\n\n >\n\n\nThis press release contains forward-looking statements that involve a number of risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Many factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.\n\nThe Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.\n\n\n\n","length":4853,"tagName":"div"}]

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