Business
Canlan scores a profit in 2006
Canlan scores a profit in 2006.
About this update from Canlan Ice Sports Corp.
[{"type":"text","content":"\n\n\n\nBURNABY, BC, March 27 /CNW/ - Canlan Ice Sports Corp. today reported\nresults for the year ended December 31, 2006\n\n\n Fourth Quarter and Annual Results\n ---------------------------------\n (in thousands of dollars, except number of shares)\n --------------------------------------------------\n-------------------------------------------------------------------------\n Three months ended December 31 Year ended December 31\n\n 2006 2005 2006 2005\n-------------------------------------------------------------------------\nRevenue:\n Ice rinks $18,013 $14,621 $55,231 $48,768\n\nExpenses:\n Ice rinks 12,596 9,932 43,107 37,607\n-------------------------------------------------------------------------\n\nEarnings from operations 5,417 4,689 12,124 11,161\n\nGeneral and\n administration expenses 703 631 2,775 2,764\n-------------------------------------------------------------------------\n\nEarnings before\n undernoted 4,714 4,058 9,349 8,397\n\nOther expenses (income):\n Interest 1,101 1,002 3,955 3,477\n Amortization 1,041 1,002 3,888 3,687\n Other (8) 3 341 (14)\n-------------------------------------------------------------------------\n 2,134 2,007 8,184 7,150\n-------------------------------------------------------------------------\n\nEarnings from continuing\n operations before taxes 2,580 2,051 1,165 1,247\n\nIncome tax expense\n (recovery) 264 144 (189) 2\n-------------------------------------------------------------------------\n\nNet earnings from\n continuing operations 2,316 1,907 1,354 1,245\n\nLoss from discontinued\n operations - 205 - 205\n-------------------------------------------------------------------------\n\nEarnings for the period $2,316 $1,702 $1,354 $1,040\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\nBasic and fully diluted\n earnings per common\n share $0.01 $0.00 $0.01 $0.00\nWeighted average\n common shares\n issued 266,747,663 266,747,663 266,747,663 266,747,663\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\n\n\nFourth quarter results (three months ended December 31, 2006 compared\nwith three months ended December 31, 2005):\n\n- Gross revenue of $18.0 million grew by $3.4 million or 23....