Business
Gamehost Announces Fourth Quarter 2019 Financial Results and March Dividend
Not Intended for Distribution to U.S. Newswire Services or for Dissemination in the U.S. ...
About this update from Gamehost Inc.
[{"type":"text","content":"Gamehost Announces Fourth Quarter 2019 Financial Results and March DividendNot Intended for Distribution to U.S. Newswire Services or for Dissemination in the U.S.RED DEER, AB / ACCESSWIRE / March 10, 2020 / Gamehost Inc. (TSX:GH) Management and Directors of Gamehost Inc. (the \"Company\") present results for the twelve- and three-month periods ended December 31, 2019 (the \"Year\" and \"Quarter\" respectively).Operating revenue for the Quarter was down 2.3% from the prior year or $0.4 million to $17.3 million. Despite the reduction in top line results Shareholder earnings for the Quarter were flat at $3.7 million to the prior year as were earnings per common share at $0.15 largely as a result of reduced income taxes. Earnings before interest, taxes, depreciation, and amortization (\"EBITDA\") that is attributable to shareholders of the Company (\"EBITDA to Shareholders\") was up slightly to $6.5 million from $6.4 million in the same quarter of 2018 and EBITDA to Shareholders margin for the Quarter improved to 39.2% from 38.1%. Adoption of IFRS 16 for leases resulted in $0.3 million in adjustments favourable to EBITDA calculations in year-over-year comparisons for the Quarter.Economic realities in Alberta remain challenging. Over the past five years, private sector organizations have made the necessary adjustments to adapt. The public sector is now soon to make similar adjustments as the provincial government responds to commissioned reports calling for cuts in government spending. There are no clear sightlines pointing to the date Alberta will have a healthy growing economy again. A number of key events, however, set the stage for that day to arrive. Alberta announced a reduction to its' corporate tax rate of 4.0% over four years with the second 1.0% reduction effective January 1, 2020. Alberta now has the lowest corporate tax rate in the country and the spread will widen in subsequent years unless other provinces follow suit. Increasing export capacity for Alberta's energy products moved a step closer when Enbridge's Line 3 replacement project cleared the last regulatory hurtle in February. Construction on the remaining USA section can now commence. Also, in the news in February, a Federal Court of Appeal ruling removed the last active court challenge to completion of the Trans Mountain pipeline expansion. While this decision ...