Business
Canlan Reports Stronger Q2 Year-Over-Year Results
Burnaby, British Columbia--(Newsfile Corp. - August 12, 2014) - Canlan Ice Sports Corp. (TSX: ...
About this update from Canlan Ice Sports Corp.
[{"type":"text","content":"\nCanlan Reports Stronger Q2 Year-Over-Year ResultsBurnaby, British Columbia--(Newsfile Corp. - August 12, 2014) - Canlan Ice Sports Corp. (TSX: ICE) (the \"Corporation\") today reported its financial results for \nthe second quarter ended June 30, 2014. \nHighlights of Q2 2014 \n\n Total revenue of $16.5 million increased by 2.5% over 2013 and 3.1% on a \n same store basis; \n Q2 EBITDA was $0.2 million compared to a loss of $0.4 million in 2013; \n Net loss of $1.4 million was reduced by $0.3 million compared to prior \n year; \n As at the date of this release, the Company substantially completed a $1.7 \n million renovation of the indoor soccer field in Burnaby 8Rinks on time and on \n budget; and \n Long term debt of $14.4 million was refinanced into a $19.7 million debt \n package at reduced interest rates, decreased annual debt service payments and \n enabled the Company to replenish cash reserves. \nSecond Quarter and Six Months Ended June 30, 2014 \nResults\n\n \n \n   \n  \n For the 3 months ended \n  \n  \n For the 6 months ended \n  \n \n   \n  \n June 30, 2014 \n \n \n \n  \n  \n June 30, 2014 \n \n \n \n  \n \n (in \n thousands) \n  \n 2014 \n  \n  \n 2013 \n  \n  \n 2014 \n  \n  \n 2013 \n  \n \n Revenue \n $\n 16,480 \n  \n $\n 16,078 \n  \n $\n 37,678 \n  \n $\n 36,739 \n  \n \n Operating expense \n \n  \n 15,174 \n  \n  \n 15,205 \n  \n  \n 29,748 \n  \n  \n 29,987 \n  \n \n   \n  \n 1,306 \n  \n  \n 873 \n  \n  \n 7,930 \n  \n  \n 6,752 \n  \n \n G&A expense \n\n  \n 1,084 \n  \n  \n 1,235 \n \n  \n  \n 2,265 \n  \n  \n 2,449 \n \n  \n \n EBITDA1 \n $\n 222 \n  \n $\n (362\n ) \n $\n 5,665 \n  \n $\n 4,303 \n  \n \n EBITDA per share \n \n $\n 0.02 \n  \n $\n (0.03\n ) \n $\n 0.43 \n  \n $\n 0.32 \n \n  \n \n Net earnings (loss) \n $\n (1,434\n ) \n $\n (1,765\n ) \n $\n 1,024 \n  \n $\n 265 \n  \n \n Net earnings \n (loss) per share \n $\n (0.11\n ) \n $\n (0.13\n ) \n $\n 0.08 \n  \n $\n 0.02 \n \n  \n \n____________________\n1 Earnings before interest, taxes, depreciation and amortization \n(EBITDA) is often used as a me...