ShawCor Ltd. announces fourth quarter and full year 2007 results

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[{"type":"text","content":"\n\n\n\n(TSX: SCL.A, SCL.B)\n\n\nTORONTO, Feb. 19 /CNW/ -\n\n\nFinancial Summary\n\n(In thousands of Canadian Three Months Ended Year Ended\n dollars except per share Dec. 31 Dec. 31\n amounts) 2007 2006 2007 2006\n-------------------------------------------------------------------------\n\nOperating Results\nRevenue $ 285,438 $ 276,315 $1,048,099 $1,059,619\nEBITDA (note 1) 50,731 54,891 202,808 187,828\nOperating income from\n continuing operations 39,492 41,791 160,001 138,780\nIncome from continuing\n operations 34,053 26,722 117,819 92,924\nIncome (loss) from\n discontinued operations (30,300) (69) (30,462) (289)\nNet income (loss) 3,753 26,653 87,357 92,635\n\nNet income (loss) per share\n (Class A and B) - Basic\n Continuing operations 0.48 0.36 1.62 1.25\n Discontinued operations (0.42) 0.00 (0.42) 0.00\n Total 0.06 0.36 1.20 1.25\n\nNet income (loss) per share\n (Class A and B) - Diluted\n Continuing operations 0.46 0.36 1.60 1.25\n Discontinued operations (0.41) 0.00 (0.41) 0.00\n Total 0.05 0.36 1.19 1.25\n-------------------------------------------------------------------------\nCash Flow\nCash from continuing\n operating activities 8,710 38,752 97,513 189,877\nPurchases of property,\n plant and equipment 28,551 15,579 91,855 58,170\n-------------------------------------------------------------------------\nFinancial Position\nWorking capital 255,625 341,375\nTotal assets 960,326 948,565\nShareholders' equity per share\n (Class A and B) $ 8.13 $ 8.51\n-------------------------------------------------------------------------\n\nNote 1: EBITDA is a non-GAAP measure calculated by adding back to income\nfrom continuing operations, the sum of reported interest\n(income)/expense, taxes and depreciation/amortization, excluding the\nimpact of non-wholly owned subsidiaries. EBITDA does not have a\nstandardized meaning prescribed by GAAP and is not necessarily comparable\nto similar measures prescribed by other companies. EBITDA is used by many\nanalysts in the oil and gas industry as one of several important\nanalytical tools.\nNote 2: Shareholders' equity per share is a non-GAAP measure calculated\nby dividing shareholders' equity by the number of Class A and Class B\nshares outstanding at the date of the balance sheet.\nNote 3: During the fourth quarter of 2006, ShawCor Ltd. adopted the\nproportionate consolidation method o...

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