Business
K-Bro Reports Record Q2, 2014 Results and Declares August Dividend
(TSX: KBL) Q2, 2014 Financial Highlights Revenue for the three months ended June ...
About this update from K-bro Linen Inc.
[{"type":"text","content":"\n\n(TSX: KBL)\n\nQ2, 2014 Financial Highlights\n\n\nRevenue for the three months ended June 30, 2014 was $34.3 million, an increase of 5.2% over the comparable 2013 period. \nEBITDA for the second quarter increased by $0.7 million or by 11.9% to $7.0 million compared to $6.3 million in Q2, 2013. \nEBITDA margin increased on a quarter over quarter basis to 20.4% in Q2, 2014 compared to 19.2% in Q2, 2013. \nNet earnings after taxes for the second quarter increased by $0.4 million to $3.3 million compared to $2.9 million in Q2, 2013. \n\n\n\n(thousands, except per share amounts\n\n\nFor the three months ended June 30\n\n\n\nand percentages)\n\n\n2014\n\n\n2013\n\n\n$ Change\n\n\n%\n\nChange\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n$\n\n\n34,348\n\n\n$\n\n\n32,660\n\n\n1,688\n\n\n5.2%\n\n\n\nOperating expenses\n\n\n27,344\n\n\n26,403\n\n\n941\n\n\n3.6%\n\n\n\nEBITDA(1)\n\n\n7,004\n\n\n6,257\n\n\n747\n\n\n11.9%\n\n\n\nEBITDA(1) as a % of revenue\n\n\n20.4%\n\n\n19.2%\n\n\n-\n\n\n1.2%\n\n\n\nEarnings before income taxes\n\n\n4,580\n\n\n4,112\n\n\n468\n\n\n11.4%\n\n\n\nIncome tax expense\n\n\n1,247\n\n\n1,226\n\n\n21\n\n\n1.7%\n\n\n\nNet earnings\n\n\n3,333\n\n\n2,886\n\n\n447\n\n\n15.5%\n\n\n\nBasic earnings per Share\n\n\n$\n\n\n0.47\n\n\n$\n\n\n0.41\n\n\n0.06\n\n\n14.6%\n\n\n\nDiluted earnings per Share\n\n\n$\n\n\n0.47\n\n\n$\n\n\n0.41\n\n\n0.06\n\n\n14.6%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nTotal assets\n\n\n117,984\n\n\n104,226\n\n\n13,758\n\n\n13.2%\n\n\n\nLong-term debt, end of period\n\n\n22,587\n\n\n15,338\n\n\n7,249\n\n\n47.3%\n\n\n\n\n\n\n\n\n\nCash provided by operating activities\n\n\n2,705\n\n\n(1,499)\n\n\n4,204\n\n\n-280.5%\n\n\n\nNet change in non-cash working capital items\n\n\n(2,995)\n\n\n(6,956)\n\n\n3,961\n\n\n-53.3%\n\n\n\nShare-based compensation expense (1)\n\n\n102\n\n\n377\n\n\n(275)\n\n\n-69.3%\n\n\n\nMaintenance capital expenditures\n\n\n491\n\n\n240\n\n\n251\n\n\n104.6%\n\n\n\nDistributable cash flow(1)\n\n\n5,107\n\n\n4,840\n\n\n267\n\n\n5.5%\n\n\n\nDividends declared\n\n\n2,102\n\n\n2,036\n\n\n66\n\n\n3.3%\n\n\n\nPayout ratio(1)\n\n\n41.0%\n\n\n41.9%\n\n\n-\n\n\n-0.9%\n\n\n\n(1) Refer to the Terminology section for further details\n\n \n\n\n\n\n(thousands, except per share amounts\n\n\nFor the six months ended June 30\n\n\n\nand percentages)\n\n\n2014\n\n\n2013\n\n\n$ Change\n\n\n%\n\nChange\n\n\n\n\n\n\n\n\n\n...