Business
Reports Second Quarter 2013 Financial Results and Net Income of $2.4 Million
Reports Second Quarter 2013 Financial Results and Net Income of $2.4 Million Calgary, Albert...
About this update from Myriad Uranium Corp
[{"type":"text","content":"Reports Second Quarter 2013 Financial Results and Net Income of $2.4 MillionReports Second Quarter 2013 Financial Results and Net Income of $2.4 Million\nCalgary, Alberta CANADA, August 27, 2013 /FSC/ - Mosaic Capital Corporation, (\"Mosaic\") (TSX-V Symbols: M and M.PR.A) has released its unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2013. \n\"I am pleased with our second quarter results showing the continued growth of our subsidiaries,\" commented John Mackay, Executive Chairman and CEO. Mr. Mackay added, \"Historically the second quarter is our slowest quarter however as we continue to make future acquisitions we would expect to see less seasonality. We continue to see growth in our financial metrics and are reviewing acquisition opportunities that we believe will be accretive and provide future long term growth for shareholders. With a current cash position as of June 30, 2013 of approximately $37 million dollars and a strong pipeline of deal flow we are very well positioned for future acquisitions.\"\nSecond Quarter 2013 Financial and Operational Highlights\n* 2013 Q2 Revenue increased 25% from Q2 2012 to $19.1 million;\n* 2013 Q2 Income from Operations and Adjusted EBITDA1 increased 22% from Q2 2012 to $3.3 million;\n* 2013 Q2 Free Cash Flow2 increased 19% from Q2 2012 to $1.7 million;\n* 2013 Q2 Net Income and Comprehensive Income increased 109% from Q2 2012 to $2.4 million;\n* 2013 Q2 Preferred Security Payout Ratio3 was 110% for the three months and 57% for the six months ended June 30, 2013;\n* 2013 Q2 Organic growth for the Industrial Segment gave rise to growth in revenue of 10.6% and growth in income from operations of 13.4%, each as compared with Q2 2012.  This organic growth does not take into account the acquisition of Kendall's Supply.\nSelected Second Quarter 2013 Highlights\n-***-\n------------------------------------------------------------\nAll amounts are in thousands except  2013    2012   % Change\n % and share data\n------------------------------------------------------------\nRevenue                             $19,111 $15,309     +25%\n-...