Business
Canlan reports second quarter results
Canlan reports second quarter results.
About this update from Canlan Ice Sports Corp.
[{"type":"text","content":"\n\n\n\nBURNABY, BC, Aug. 14 /CNW/ - Canlan Ice Sports Corp. today reported\nresults for the three months and six months ended June 30, 2007\n\n\n Second Quarter Results (in thousands of dollars)\n-------------------------------------------------------------------------\n Three months ended June 30 Six months ended June 30\n 2007 2006 2007 2006\n-------------------------------------------------------------------------\nRevenue:\n Ice rinks $ 13,096 $ 11,319 $ 31,492 $ 26,374\n\nExpenses:\n Ice rinks 11,776 10,225 24,229 20,558\n-------------------------------------------------------------------------\n\nEarnings from\n operations 1,320 1,094 7,263 5,816\n\nGeneral and\n administration\n expenses 936 704 1,834 1,377\n-------------------------------------------------------------------------\n\nEarnings before\n the undernoted 384 390 5,429 4,439\n\nOther expenses:\n Interest on debt on\n ice rinks 950 732 1,866 1,446\n Other interest 109 156 214 281\n Loss on foreign\n exchange 23 363 17 363\n Amortization 1,090 925 2,162 1,852\n Gain on sale of\n capital assets - (16) - (16)\n-------------------------------------------------------------------------\n 2,172 2,160 4,259 3,926\nEarnings (loss)\n before taxes (1,788) (1,770) 1,170 513\n\n\nIncome tax (expense)\n recovery:\n Current - 53 - -\n Future 362 370 (256) (193)\n-------------------------------------------------------------------------\n 362 423 (256) (193)\n-------------------------------------------------------------------------\n\nNet earnings (loss) $ (1,426) $ (1,347) $ 914 $ 320\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\nBasic earnings (loss)\n per share $ (0.01) $ (0.01) $ 0.00 $ 0.00\nFully diluted earnings\n (loss) per share $ (0.01) $ (0.01) $ 0.00 $ 0.00\nBasic and diluted\n weighted average number\n of shares outstanding\n (in thousands) 266,747 266,747 266,747 266,747\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\n\nSecond quarter results (three months ended June 30, 2007 compared with\nthree months ended June 30, 2006):\n\n- Total revenue of $13.1 million increased by $1.8 million or 15.7%\n compared to 2006\n- Same store revenue increased by 4.6% or $516...