Business
Canlan reports Q3 results
BURNABY, BC, Nov. 12 /CNW/ - Canlan Ice Sports Corp., providers of the on-ice experience to youth...
About this update from Canlan Ice Sports Corp.
[{"type":"text","content":"\n\n\n\nBURNABY, BC, Nov. 12 /CNW/ - Canlan Ice Sports Corp., providers of the\non-ice experience to youths and adults across North America, today reported\nits financial results for the three months and nine months ended September 30,\n2008\n\n\n Third Quarter Results (in thousands of dollars)\n-------------------------------------------------------------------------\n Three months ended Nine months ended\n September 30 September 30\n 2008 2007 2008 2007\n-------------------------------------------------------------------------\nRevenue:\n Ice rinks $ 12,921 $ 12,308 $ 45,686 $ 43,800\n\nExpenses:\n Ice rinks 11,411 11,259 36,408 35,489\n-------------------------------------------------------------------------\n\nEarnings from operations 1,510 1,049 9,278 8,311\n\nGeneral and\n administration expenses 902 804 2,600 2,638\n-------------------------------------------------------------------------\n\nEarnings before\n the undernoted 608 245 6,678 5,673\n\nOther expenses:\n Interest 962 1,125 2,806 3,221\n Amortization 1,184 1,100 3,334 3,262\n-------------------------------------------------------------------------\n 2,146 2,225 6,140 6,483\n\nEarnings (loss)\n before taxes (1,538) (1,980) 538 (810)\n\nFuture income tax\n recovery (expense) 278 395 (169) 139\n-------------------------------------------------------------------------\n\nNet earnings (loss) (1,260) (1,585) 369 (671)\n\nDeficit, beginning of\n period (22,411) (23,932) (24,040) (24,846)\n-------------------------------------------------------------------------\n\nDeficit, end of period $ (23,671) $ (25,517) $ (23,671) $ (25,517)\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\n\nBasic (loss) earnings\n per common share $ (0.005) $ (0.006) $ 0.001 $ (0.003)\nFully diluted (loss)\n earnings per common\n share $ (0.005) $ (0.006) $ 0.001 $ (0.003)\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\n\nThird quarter results (three months ended September 30, 2008 compared\nwith three months ended September 30, 2007):\n\n- Total revenue of $12.9 million increased by $613,000 or 5.0% compared\n to 2007.\n- Same store revenue increased by $911,000 or 7.6% (one facility in\n Quebec...