CANLAN REPORTS FOURTH QUARTER AND YEAR-END 2010 RESULTS AND REFINANCING

About this update from Canlan Ice Sports Corp.

[{"type":"text","content":"\n\n\n Mar. 24, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nBURNABY, BC, March 24 /CNW/ - Canlan Ice Sports Corp., industry-leading\n providers of recreational and leisure facilities across North America,\n today announced its financial results for the three and 12-month\n periods ended December 31, 2010.\n\n\n2010 Key Financial Metrics\n\n\n\n\nIn thousands except share data\n\n\nFY 2010\n\n\nFY 2009\n\n\nChange\n\n\n\n\nTotal revenue\n\n\n$69,849\n\n\n$67,196\n\n\n+4%\n\n\n\n\nEBITA1\n\n\n$9,531\n\n\n$10,915\n\n\n-13%\n\n\n\n\nEarnings before taxes\n\n\n$1,841\n\n\n$3,333\n\n\n-45%\n\n\n\n\nNet earnings after taxes\n\n\n$707\n\n\n$2,734\n\n\n-74%\n\n\n\n\nNet earnings per share\n\n\n$0.05\n\n\n$0.20\n\n\n-75%\n\n\n\n\nEBITA per share\n\n\n$0.71\n\n\n$0.81\n\n\n-12%\n\n\n\n\nTotal Assets\n\n\n$110,578\n\n\n$113,548\n\n\n-3%\n\n\n\n\nCash and Cash equivalents\n\n\n$8,903\n\n\n$9,213\n\n\n-3%\n\n\n\n\nTotal Interest bearing debt\n\n\n$45,477\n\n\n$48,041\n\n\n-5%\n\n\n\n\n"Although our results in 2010 were adversely affected by the challenging\n economic conditions and competition in many of the markets in which we\n operate, we accomplished a number of milestones during the year," said\n Joey St-Aubin, President and CEO of Canlan Ice Sports.  "We generated\n record revenue, earned a profit for the sixth straight year, ramped up\n operations at our second US facility in Fort Wayne, IN, initiated a\n quarterly dividend and experienced a record year for par...

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