Horizon North Logistics Inc. Announces Results for the Quarter Ended September 30, 2014

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[{"type":"text","content":"\n\nTSX Symbol: HNL\n\n\n\nCALGARY, Oct. 28, 2014 /CNW/ - Horizon North Logistics Inc. (\"Horizon\" or the \"Corporation\") reported its financial and operating results for the three and nine months ended September 30, 2014 and 2013.\n\nThird Quarter Highlights\n\n\nCamp rental and catering operations revenue grew by 6% in Q3 2014 compared to the same period of 2013 driven by stronger utilization with improved margins; \nManufacturing sales revenues and margins in Q3 2014 were significantly lower compared to the same period of 2013, reflecting lower activity levels in the comparative periods; \nMatting revenues in Q3 2014 were similar to the same period of 2013 but with margins decreasing as a result of downward pressure on rental rates and upward cost pressure in mat manufacturing.\nThird Quarter Financial Summary\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThree months ended September 30\n\n\n\nNine months ended September 30\n\n\n\n(000's except per share amounts)\n\n\n\n\n2014\n\n\n\n2013\n\n\n\n% Change\n\n\n\n\n2014\n\n\n\n2013\n\n\n\n% Change\n\n\n\nRevenue\n\n\n\n$\n\n\n121,895\n\n\n$\n\n\n157,361\n\n\n\n(23%)\n\n\n\n$\n\n\n340,200\n\n\n$\n\n\n445,746\n\n\n\n(24%)\n\n\n\nEBITDAS(1)\n\n\n\n\n26,046\n\n\n\n41,306\n\n\n\n(37%)\n\n\n\n\n65,092\n\n\n\n110,647\n\n\n\n(41%)\n\n\n\nEBITDAS as a % of revenue\n\n\n\n\n21%\n\n\n\n26%\n\n\n\n\n\n\n19%\n\n\n\n25%\n\n\n\n\n\nOperating earnings\n\n\n\n\n12,691\n\n\n\n27,423\n\n\n\n(54%)\n\n\n\n\n25,992\n\n\n\n64,898\n\n\n\n(60%)\n\n\n\nOperating earnings as a % of revenue\n\n\n\n\n10%\n\n\n\n17%\n\n\n\n\n\n\n8%\n\n\n\n15%\n\n\n\n\n\nTotal profit \n\n\n\n\n8,065\n\n\n\n18,339\n\n\n\n(56%)\n\n\n\n\n16,463\n\n\n\n44,971\n\n\n\n(63%)\n\n\n\nTotal comprehensive income\n\n\n\n\n8,178\n\n\n\n18,643\n\n\n\n(56%)\n\n\n\n\n16,697\n\n\n\n45,013\n\n\n\n(63%)\n\n\n\nEarnings per share\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBasic\n\n\n\n$\n\n\n0.07\n\n\n$\n\n\n0.17\n\n\n\n(59%)\n\n\n\n$\n\n\n0.15\n\n\n$\n\n\n0.41\n\n\n\n(63%)\n\n\n\n\nDiluted\n\n\n\n$\n\n\n0.07\n\n\n$\n\n\n0.17\n\n\n\n(59%)\n\n\n\n$\n\n\n0.15\n\n\n$\n\n\n0.41\n\n\n\n(63%)\n\n\n\nTotal assets\n\n\n\n\n534,776\n\n\n\n470,049\n\n\n\n14%\n\n\n\n\n534,776\n\n\n\n470,049\n\n\n\n14%\n\n\n\nLong-term loans and borrowings\n\n\n\n\n146,433\n\n\n\n69,770\n\n\n\n110%\n\n\n\n\n146,433\n\n\n\n69,770\n\n\n\n110%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\...

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