Business
Canlan Achieved Its Sixth Consecutive Year of Record Revenue and EBITDA in 2018 and Continues Dividend
Burnaby, British Columbia--(Newsfile Corp. - March 22, 2019) - Canlan Ice Sports Corp. (TSX:...
About this update from Canlan Ice Sports Corp.
[{"type":"text","content":"Canlan Achieved Its Sixth Consecutive Year of Record Revenue and EBITDA in 2018 and Continues DividendBurnaby, British Columbia--(Newsfile Corp. - March 22, 2019) - Canlan Ice Sports Corp. (TSX: ICE) (the \"Corporation\")  today reported its financial results for the fourth quarter and year ended December 31, 2018. The Corporation also announced the continuation of its dividend for Q1 2019.Highlights of 2018Revenue of $87.6 million increased $2.2 million or 2.6% compared to 2017; Operating margin increased to 23.3% from 21.9% a year ago;EBITDA of $14.7 million rose $1.9 million or 14.7% compared to 2017; andCash flow from operations increased by $1.6 million or 14.9% compared to 2017. Fourth Quarter and Annual Results     For the 3 months ended     For the year ended             December 31           December 31   (in thousands)   2018     2017     2018     2017   Revenue $ 24,799   $ 24,278   $ 87,638   $ 85,411   Operating expenses:                           Salaries, wages and benefits   8,317     8,457     32,769     32,874     Selling and customer service   2,796     2,432     11,303     11,320     Utilities   1,666     1,797     6,889     7,604     Cost of goods sold   1,637     1,597     5,697     5,735     Repairs and maintenance   2,089     1,210     5,730     4,576     Property tax   852     861     3,433     3,404     Facility lease   332     348     1,380     1,188   Total operating expenses   17,689     16,702     67,201     66,701       7,110     7,576     20,437     18,710   G&A expense   1,577     2,074     5,767     5,919   EBITDA1 $ 5,533   $ 5,502   $ 14,670   $ 12,791   EBITDA per share $ 0.41   $ 0.41   $ 1.10   $ 0.96   Depreciatio...