Business
CML HealthCare Income Fund Reports Fiscal 2007 Second Quarter Financial Results
CML HealthCare Income Fund Reports Fiscal 2007 Second Quarter Financial Results.
About this update from Christina Lake Cannabis Corp
[{"type":"text","content":"\n\n\n\nToronto Stock Exchange Symbol: CLC.UN\n\n\nMISSISSAUGA, ON, Aug. 8 /CNW/ - CML HealthCare Income Fund (the "Fund"),\n(TSX: CLC.UN) today reported its financial results for the three and six-month\nperiods ended June 30, 2007.\n\n\nQ2 07 Highlights\n\n- Revenue increased 6.5% to $77.2 million from $72.5 million in Q2 2006\n- Net earnings totaled $25.7 million compared to $26.8 million in\n Q2 2006\n- EBITDA(xx) totaled $30.9 million compared to $28.7 million in Q2 2006\n- Cash provided by operating activities totaled $33.2 compared to\n $30.1 million in Q2 2006\n- The Fund generated distributable cash(x) of $25.3 million and declared\n distributions totaling $22.1 million, representing a payout ratio of\n 87.5%\n- The Fund increased annualized unitholder distributions from $1.00 per\n unit to $1.035 per unit, representing an increase of 3.5%\n- Closed the acquisition of MYK Diagnostic Imaging, Calgary's third\n largest medical imaging services provider\n- Appointment of Dr. Joseph Fairbrother to CML HealthCare Board of\n Directors and the Fund's Board of Trustees\n\n\n"Our increase to unitholder distributions in the quarter reflects our\ncontinued strong performance and our commitment to building unitholder value,"\nsaid Paul Bristow, President and CEO of CML HealthCare Income Fund. "In\naddition to organic growth of both our laboratory services and medical imaging\nrevenues, and continued strong operating margins, we have made strong progress\nin advancing our medical imaging clinic acquisition strategy. In total for\n2006 and 2007 to date, we have completed or announced binding agreements to\nacquire 18 medical imaging clinics across Canada, representing an estimated\naggregate of $24.0 million in revenue. Further, we have deposits on eight\nadditional medical imaging clinics. We remain focused on building our\nacquisition pipeline and will continue to ensure that each transaction is\nimmediately accretive to distributable cash."\n\n\n"We have also advanced our national branding initiatives with the\ncompletion of our initial clinic refurbishments and are now evaluating a\ncompany-wide rollout. We continue to assess opportunities to add complementary\nhealthcare services to our network through our focused diversification\nprogram," added Mr. Bristow.\n\n\nFinancial Results\n\n\nFo...