Canlan Reports Third Quarter 2012 Financial Results

About this update from Canlan Ice Sports Corp.

[{"type":"text","content":"\n\n\n\n\n\n- Same store revenue growth over 6% -\n\n\nBURNABY, BC, Nov. 14, 2012 /CNW/ - Canlan Ice Sports Corp. (TSX: ICE), industry-leading providers of recreational and multi sport facilities\n across North America, today announced its financial results for the\n three - and nine-month period ended September 30, 2012.\n\n\nQ3 2012 Key Financial Metrics\n\n\nIn thousands except share data\n\n\nQ3 2012\n\n\nQ3 2011\n\n\nChange\n\n\nTotal revenue\n\n\n$15,231\n\n\n$14,805\n\n\n+3%\n\n\nEBITDA1\n\n$186\n\n\n$2\n\n\n+$184\n\n\nNet earnings (loss) before taxes\n\n\n($1,613)\n\n\n$368*\n\n\n-$1,981\n\n\nNet earnings (loss) after taxes\n\n\n($1,164)\n\n\n$117*\n\n\n-$1,281\n\n\nNet earnings (loss) per share\n\n\n($0.09)\n\n\n$0.01*\n\n\n-$0.10\n\n\n \n\n\nSept. 30, 2012\n\n\nSept. 30, 2011\n\n\n \n\n\nTotal Assets\n\n\n$103,096\n\n\n$106,658\n\n\n-3%\n\n\nCash and Cash equivalents\n\n\n$10,661\n\n\n$5,946\n\n\n+79%\n\n\nTotal Interest bearing debt\n\n\n$40,515\n\n\n$47,085\n\n\n-14%\n\n\n*Includes a one-time $2.3 million gain on sale of assets recorded in Q3\n 2011\n\n\n\"Our Q3 revenue growth was solid and we continue to manage our expenses\n well, which resulted in a positive EBITDA for the quarter,\" said Joey\n St-Aubin, President and CEO of Canlan Ice Sports.  \"Increases in F&B\n sales, ASHL pricing, programs and sponsorship revenue lead to a solid\n 6.1% growth rate in same store sales for the quarter.\"\n\n\nQ3 2012 Operational and Financial Highlights \n\n\nRevenue of $15.2 million, an increase of 2.9% over Q3 2011\n\n\nSame store revenue up $0.9 million or 6.1% over Q3 2011\n\n\nEBITDA of $0.2 million for Q3 2012, up $184,000 from Q3 2011\n\n\nSame store EBITDA was $0.4 million higher than the prior year\n\n\nCash balance at quarter end was $10.7 million compared to $5.9 million a\n year ago\n\n\nHighlights Subsequent to Quarter-End\n\n\nCanlan Sportsplex Mississauga, our newest complex housing indoor courts\n and soccer fields,  opened its doors to soccer user groups in early\n October and the construction of the food and beverage area is expected\n to be completed and commence operation in November 2012\n\n\nIntroduced Club Hockey Canada to its Adult Safe Hockey League (ASHL); a\n loyalty program in partnership with Hockey Canada\n\n\nReview of Q3 and YTD 2012 Financial Results\nCanlan derives its...

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