Business
Shawcor Ltd. Announces Third Quarter 2009 Results
Shawcor Ltd. Announces Third Quarter 2009 Results
About this update from Mattr Corp
[{"type":"text","content":"\n\n\n\nNov. 3, 2009 (Canada NewsWire Group) -- TORONTO, Nov. 3 /CNW/ --Financial Summary(in thousands of Canadian Three Months Ended Nine Months Endeddollars except per September 30, September 30,share amounts) 2009 2008 2009 2008Restated Restated(note 1) (note 1)-------------------------------------------------------------------------Operating ResultsRevenue $ 302,812 $ 357,249 $ 923,067 $ 945,724EBITDA (note 2) 64,472 68,611 200,069 163,567Operating income fromcontinuing operations 49,972 52,315 153,584 120,423Income from continuingoperations 33,690 33,962 99,553 78,708Income (loss) fromdiscontinued operations 57 (82) 371 10,402Net income 33,747 33,880 99,924 89,110Net income (loss) per share(Class A and B) - BasicContinuing operations 0.48 0.48 1.41 1.11Discontinued operations 0.00 0.00 0.01 0.15Total 0.48 0.48 1.42 1.26Net income (loss) per share(Class A and B) - DilutedContinuing operations 0.48 0.47 1.41 1.10Discontinued operations 0.00 0.00 0.01 0.14Total 0.48 0.47 1.42 1.24-------------------------------------------------------------------------Cash FlowCash provided by continuingoperating activities 59,575 23,967 156,395 78,437Additions to property,plant and equipment 5,751 23,085 25,926 61,999-------------------------------------------------------------------------Financial PositionWorking capital 274,196 168,891Total assets 1,136,627 1,131,541Shareholders' equity pershare (Class A and B)(note 3) $ 10.90 $ 9.18-------------------------------------------------------------------------Note 1: Restated for change in accounting policy. Refer to note 1 to theinterim consolidated financial statements for the three and nine monthsended September 30, 2009.Note 2: EBITDA is a non-GAAP measure calculated by adding back to incomefrom continuing operations, the sum of interest (income)/expense, taxesand depreciation/amortization of property, plant and equipment andintangible assets. EBITDA does not have a standardized meaning prescribedby GAAP and is not necessarily comparable to similar measures prescribedby other companies. EBITDA is used by many analysts in the oil and gasindustry as one of several important analytical tools. The following isthe calculation of EBITDA for the periods presented above:Income from continuingoperations $ 33,690 $ 33,962 $ 99,553 $ 78,708Add (deduct):Income taxes 15,607 15,741 50,121 38,394Interest e...