Shawcor Ltd. announces first quarter 2008 results

About this update from Mattr Corp

[{"type":"text","content":"\n\n\n\n(TSX: SCL.A, SCL.B)\n\n\nTORONTO, May 9 /CNW/ -\n\n\nFinancial Summary\n\n\n(In thousands of Canadian dollars Three Months Ended Mar. 31\n except per share amounts) 2008 2007\n-------------------------------------------------------------------------\nOperating Results\nRevenue $ 293,357 $ 221,329\nEBITDA (note 1) 54,591 38,407\nOperating income from continuing operations 41,219 27,972\nIncome from continuing operations 27,131 23,308\nIncome (loss) from discontinued operations (69) (55)\nNet income 27,062 23,253\n\nNet income (loss) per share\n (Class A and B) - Basic\n Continuing operations 0.38 0.31\n Discontinued operations 0.00 0.00\n Total 0.38 0.31\n\nNet income (loss) per share\n (Class A and B) - Diluted\n Continuing operations 0.38 0.31\n Discontinued operations 0.00 0.00\n Total 0.38 0.31\n-------------------------------------------------------------------------\nCash Flow\nCash from (used in) operating activities (9,515) 29,853\nAdditions to property, plant and equipment 12,261 15,493\n-------------------------------------------------------------------------\nFinancial Position\nWorking capital 280,551 348,923\nTotal assets 1,020,077 1,000,569\nShareholders' equity per share\n (Class A and B) (note2) $ 8.64 $ 8.67\n-------------------------------------------------------------------------\n\nNote 1: EBITDA is a non-GAAP measure calculated by adding back to income\nfrom continuing operations, the sum of interest (income)/expense, taxes\nand depreciation/amortization of property, plant and equipment. EBITDA\ndoes 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 operations 27,131 23,308\nAdd (deduct):\n Income taxes 14,430 6,716\n Interest (income) expense 87 (1,599)\n Amortization of property, plant and equipment 12,943 9,982\n\n-------------------------------------------------------------------------\nEBITDA 54,591 38,407\n-------------------------------------------------------------------------\n\n\nNote 2: Shareholders' equity per share is a non-GAAP measure calculated\n\n\nby dividing shareholders' equity by the numb...

More updates from Mattr Corp