Business
CML HealthCare Income Fund Reports 2009 Year-End Financial Results
CML HealthCare Income Fund Reports 2009 Year-End Financial Results
About this update from Christina Lake Cannabis Corp
[{"type":"text","content":"\n\n\n\nMISSISSAUGA, ON, Mar. 4, 2010 (Canada NewsWire Group) -- /CNW/ -- CML HealthCare Income Fund (the \"Fund\" or \"CML HealthCare\"), (TSX: CLC.UN) today reported its financial results for the three and twelve-month periods ended December 31, 2009 (all amounts are in Canadian dollars, unless noted otherwise).Highlights:------------------------------------------------------------------------------------Three- Three-Twelve- Twelve- months monthsmonths months ended ended(C$ million ended ended December Decemberexcept December December 31, 2009 31, 2008 % Changepercent 31, 2009 31, 2008 % Change (\"Q4 (\"Q4 in Q4amounts) (\"F2009\") (\"F2008\") in F2009 2009\") 2008\") 2009-------------------------------------------------------------------------Revenue 518.5 462.5 12.1% 128.0 133.4 (4.1%)-------------------------------------------------------------------------Operating,general, &administrationexpenses 378.4 324.3 16.7% 93.8 95.7 (2.0%)-------------------------------------------------------------------------EBITDA(1) 140.1 138.2 1.4% 34.2 37.8 (9.4%)-------------------------------------------------------------------------EBITDA(1)Margin 27.0% 29.9% (9.7%) 26.7% 28.3% (5.7%)-------------------------------------------------------------------------Goodwillimpairment 50.0 - na 50.0 - na-------------------------------------------------------------------------Net Earnings/(Loss) 55.5 101.5 (45.3%) (17.6) 26.9 (165.2%)-------------------------------------------------------------------------Adjusted NetEarnings(2) 105.5 101.5 3.9% 32.4 26.9 20.4%--------------------------------------------------------------------------------------------------------------------------------------------------Cash providedby operatingactivities 131.7 116.4 13.1% 32.6 29.7 9.8%-------------------------------------------------------------------------Distributablecash(3) 106.4 109.8 (3.2%) 25.4 24.8 2.3%-------------------------------------------------------------------------Distributionsdeclared 96.0 94.4 1.7% 24.0 24.0 0.0%-------------------------------------------------------------------------Payout ratio 90.2% 85.9% 5.0% 94.4% 96.6% (2.3%)--------------------------------------------------------------------------------------------------------------------------------------------------\"We achieved revenue and EBITDA(1) growth of 12.1% and 1.4% respectively ...