Business
Canlan Reports Strong Q1 Revenue and EBITDA Growth and Continues Dividend
Burnaby, British Columbia--(Newsfile Corp. - May 13, 2016) - Canlan Ice Sports Corp. (TSX: ICE...
About this update from Canlan Ice Sports Corp.
[{"type":"text","content":"Canlan Reports Strong Q1 Revenue and EBITDA Growth and Continues DividendBurnaby, British Columbia--(Newsfile Corp. - May 13, 2016) - Canlan Ice Sports Corp. (TSX: ICE) (the \"Corporation\") today reported its financial results for the first quarter ended March 31, 2016. Highlights of Q1 2016 Record quarterly revenue of $24.2 million increased by $1.7 million or 7.3% compared to 2015; Record quarterly EBITDA of $6.6 million increased by $1.2 million or 22.6% compared to 2015; and Net earnings of $4.0 million increased by $2.3 million compared to 2015. Earnings per share of $0.30, compared to $0.13 in 2015. First Quarter Results     For the 3 months ended March 31   (in thousands)   2016     2015   Revenue $ 24,231   $ 22,575   Operating expense   16,331     15,901       7,900     6,674   G&A expense   1,256     1,255   EBITDA1 $ 6,644   $ 5,419   EBITDA per share $ 0.50   $ 0.41   Depreciation, interest and taxes   3,138     3,057   Loss (gain) on foreign exchange   (458 )  650   Other   (5 )   (3 ) Net earnings $ 3,969   $ 1,715   Net earnings per share $ 0.30   $ 0.13   Key Balance Sheet Figures (in thousands):     March 31, 2016     December 31, 2015   Assets                  Cash and cash equivalents $ 8,586   $ 10,065        Property plant and equipment   101,122     103,631        Investment properties   558     574        Other assets   6,766     6,334   Total assets $ 117,032   $ 120,604   Liabilities and Equity                  Interest bearing debt $ 54,013   $ 55,762        Accounts payable and accrued liabilities   8,481     7,938        Deferred revenue   7,257     12,519        Other liabilities   683     657   Total liabilities   70,434     76,876        Share capital and contributed surplus   63,652     63,652  ...