ShawCor Ltd. Announces Second Quarter 2009 Results

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[{"type":"text","content":"\n\n\n\n(TSX: SCL.A, SCL.B)\n\n\nTORONTO, Aug. 5 /CNW/ -\n\n\nFinancial Summary\n\n(in thousands of Three Months Six Months\n Canadian dollars except Ended June 30, Ended June 30,\n per share amounts) 2009 2008 2009 2008\n Restated Restated\n (note 1) (note 1)\n-------------------------------------------------------------------------\nOperating Results\nRevenue $ 312,791 $ 295,118 $ 620,255 $ 588,475\n\nEBITDA (note 2) 68,926 40,215 135,597 94,506\nOperating income from\n continuing operations 53,178 27,189 103,612 68,108\nIncome from continuing\n operations 34,343 17,825 65,863 44,746\nIncome (loss) from\n discontinued operations 293 10,553 314 10,484\nNet income 34,636 28,378 66,177 55,230\n\nNet income (loss) per share\n (Class A and B) - Basic\n Continuing operations 0.49 0.25 0.94 0.63\n Discontinued operations 0.00 0.15 0.00 0.15\n Total 0.49 0.40 0.94 0.78\n\nNet income (loss) per share\n (Class A and B) - Diluted\n Continuing operations 0.49 0.25 0.93 0.62\n Discontinued operations 0.00 0.15 0.00 0.15\n Total 0.49 0.40 0.93 0.77\n-------------------------------------------------------------------------\nCash Flow\nCash provided by continuing\n operating activities 58,075 66,040 96,820 54,471\nAdditions to property,\n plant and equipment 6,031 26,653 20,174 38,914\n-------------------------------------------------------------------------\nFinancial Position\nWorking capital 239,297 175,524\nTotal assets 1,145,955 1,140,636\nShareholders' equity per\n share (Class A and B)\n (note 3) $ 10.67 $ 9.01\n-------------------------------------------------------------------------\n\nNote 1: Restated for change in accounting policy. Refer to note 1 to the\ninterim consolidated financial statements for the three and six months\nended June 30, 2009.\n\nNote 2: 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 and\nintangible assets. EBITDA does not have a standardized meaning prescribed\nby GAAP and is not necessarily comparable to similar measures prescribed\nby other companies. EBITDA is used by many analysts in the oil and gas\nindustry as one of several important analytical tools. The following is\nthe calculation of EBITDA for the periods presented above:\n\nIncome from continuin...

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