ShawCor Announces Third Quarter 2008 Results

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[{"type":"text","content":"\n\n\n\n(TSX: SCL.A, SCL.B)\n\n\nTORONTO, Nov. 6 /CNW/ -\n\n\nFinancial Summary\n\n(In thousands of Three Months Nine Months\nCanadian dollars except Ended Sept. 30 Ended Sept. 30\nper share amounts) 2008 2007 2008 2007\n-------------------------------------------------------------------------\nOperating Results\nRevenue $ 357,249 $ 264,892 $ 945,724 $ 762,661\nEBITDA (note 1) 67,232 55,373 168,298 150,831\nOperating income from\n continuing operations 50,486 45,500 125,154 120,509\nIncome from continuing\n operations 32,682 30,191 82,020 83,766\nIncome (loss) from\n discontinued operations (82) (59) 10,402 (162)\nNet income 32,600 30,132 92,422 83,604\n\nNet income (loss) per share\n (Class A and B) - Basic\n Continuing operations 0.46 0.42 1.15 1.15\n Discontinued operations 0.00 0.00 0.15 0.00\n Total 0.46 0.42 1.30 1.15\n\nNet income (loss) per share\n (Class A and B) - Diluted\n Continuing operations 0.46 0.42 1.14 1.14\n Discontinued operations 0.00 0.00 0.14 0.00\n Total 0.46 0.42 1.28 1.14\n-------------------------------------------------------------------------\nCash Flow\nCash from operating\n activities 29,906 37,550 94,723 105,848\nAdditions to property,\n plant and equipment 23,085 23,943 61,999 63,304\n-------------------------------------------------------------------------\nFinancial Position\nWorking capital 168,227 287,584\nTotal assets 1,138,595 931,959\nShareholders' equity per\n share (Class A and B) $ 9.28 $ 8.25\n (note2)\n-------------------------------------------------------------------------\nNote 1: EBITDA is a non-GAAP measure calculated by adding back to\nincome from continuing operations, the sum of interest (income)/expense,\ntaxes and depreciation/amortization of property, plant and equipment.\nEBITDA does not have a standardized meaning prescribed by GAAP and is not\nnecessarily comparable to similar measures prescribed by other companies.\nEBITDA is used by many analysts in the oil and gas industry as one of\nseveral important analytical tools. The following is the calculation of\nEBITDA for the periods presented above:\n\nIncome from continuing\n operations 32,682 30,191 82,020 83,766\nAdd (deduct):\n Income taxes 15,192 15,943 39,813 40,920\n Interest (income)\n expense 2,523 (811) 3,505 (3,638)\n Amortization of\n property, plant and\n equipment 16,835 10,050 42,960 29,783\n----------------...

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