Business
The DATA Group Income Fund announces second quarter results for 2011
HIGHLIGHTS Q2 2011 Second quarter 2011 ("Q2") Revenues of $80.0 milli...
About this update from Data Communications Management Corp.
[{"type":"text","content":"\n\n\n\n\n\n\n\n\nHIGHLIGHTS\n\n\nQ2 2011\n\n\nSecond quarter 2011 (\"Q2\") Revenues of $80.0 million, Q2 Gross Profit of\n $20.2 million, and Q2 Net Income of $1.8 million\n\n\nQ2 Cash Available for Distribution of $4.3 million or $0.183 per unit\n and Cash Distributions of $3.8 million or $0.163 per unit (see Table 4\n and \"Non-GAAP Measures\" below)\n\n\nQ2 Payout Ratio of 88.7% (See Table 4 below)\n\n\nQ2 Adjusted EBITDA of $6.9 million (See Table 3 and \"Non-GAAP Measures\"\n below)\n\n\nYTD 2011\n\n\nYear to Date 2011 (\"YTD\") Revenues of $164.3 million, YTD Gross Profit\n of $41.6 million, and YTD Net Income of $3.2 million\n\n\nYTD Cash Available for Distribution of $9.3 million or $0.397 per unit\n and Cash Distributions of $7.6 million or $0.326 per unit (see Table 4\n and \"Non-GAAP Measures\" below)\n\n\nYTD Payout Ratio of 81.9% (See Table 4 below)\n\n\nYTD Adjusted EBITDA of $14.9 million (See Table 3 and \"Non-GAAP\n Measures\" below)\n\n\nBRAMPTON, ON, Aug. 9, 2011 /CNW/ - The DATA Group Income Fund (TSX:\n DGI.UN) (\"the Fund\") today announced financial and operating results\n for the second quarter ended June 30, 2011, which include the results\n of operations for The Data Group Limited Partnership (the \"Data Group\")\n and the Data Group's general partner, Data Business Forms Limited\n (\"DBFL\").\n\n\n\"In the second quarter of 2011, the Data Group continued to 'do what we\n said we would do'.  We are continuing to execute on our plan to\n position the Data Group for long term growth while maintaining a\n healthy balance sheet, stabilizing our financial results in 2011 and\n most importantly, maintaining our annual distributions to unitholders\n of $0.65 per unit,\" said Michael Suksi, President and Chief Executive\n Officer.\n\n\nOUTLOOK\n\n\nThe Fund believes that the Data Group's business will stabilize in 2011\n and is optimistic about the Data Group's opportunities for growth in\n 2012.  This view is based on the Data Group's ongoing and proven\n success in winning new business, the Data Group's plans to introduce\n new products and services and to complete new cost savings programs.\n\n\nAs previously described, the Data Group will focus its strategic\n priorities on three key initiatives:\n\n\na continued aggressive sales effort in our cor...