Business
Great Lakes Hydro Income Fund reports strong 2006 first quarter results
Great Lakes Hydro Income Fund reports strong 2006 first quarter results.
About this update from Brookfield Renewable Partners Lp
[{"type":"text","content":"\n\n\n\n\nIndependent Trustees to review proposed acquisition of Carmichael Falls\n\nSTOCK SYMBOL: GLH.UN/TSX\n\nGATINEAU, QuDebec, May 3 /CNW Telbec/ - Great Lakes Hydro Income Fund\n(GLH.UN: TSX) today reported strong results for the first quarter ended March\n31, 2006; and that the Independent Trustees of the Board will review the\nproposed acquisition of Carmichael Falls Generating Station from Brookfield\nPower.\nStrong Generation - The Fund's power generation output exceeded long-term\naverage during the first quarter of the year, fuelled by improved inflows in\nQuebec, Ontario and New England. The Fund's power generation totalled\n1,140 gigawatts hours (GWh), an increase of 24% over the same period last year\nand approximately 21% above long-term average for the quarter.\n\n- Revenue from operations totalled $48.8 million for the three months\n ended March 31, 2006, compared to $40.5 million for the same period in\n 2005, an increase of 21%.\n\n- Income before non-cash items totalled $25.4 million for the first\n quarter ended March 31, 2006, an increase of 34% compared to the same\n period in the prior year.\n\n- Net income reached $16.1 million for the first quarter, an increase of\n almost 50% over last year.\n\n>\n\nForward-Looking Statements\n\nThis new release may contain forward-looking statements concerning the\nGreat Lakes Hydro Income Fund (\"Fund\") business and operations. Forward\nlooking statements can be identified by the use of words, such as \"believe\",\n\"well positioned\", \"long-term\", \"grow\", \"expand\", \"enhance\" or variations of\nsuch words and phrases or state that certain actions, events or results \"will\"\nbe taken, occur or be achieved. Forward looking statements involve\nassumptions, known and unknown risks, uncertainties and other factors which\nmay cause the actual results or performance to be materially different from\nany future results or performance expressed or implied by the forward\nstatements. More details relating to risk factors can be found in the Fund's\nannual information form in the section entitled Risk Factors.\nExamples of such statements include, but are not limited to factors\nrelating to production and the business, financial position, operations and\nprospects for the Fund. They include (1) the Fund's level of generation; (2)\nthe Fund's cost of production; (3) int...