Business
Input Capital Corp. Announces Fiscal 2015 First Quarter Results
REGINA, Aug. 19, 2014 /CNW/ - Input Capital Corp. ("Input" or the "Company") (INP.V) ...
About this update from Ssc Security Services Corp.
[{"type":"text","content":"\n\nREGINA, Aug. 19, 2014 /CNW/ - Input Capital Corp. (\"Input\" or the \"Company\") (INP.V) (INPCF) has released its unaudited results for the first quarter ended June 30, 2014. All figures are presented in Canadian dollars.\n\nFIRST QUARTER FINANCIAL HIGHLIGHTS\n\n\nInput generated revenues of $2,261,253 from streaming contracts on the sale of 4,585 (\"MT\" or \"tonnes\") of canola at an average price of $493.23;\nCash operating margin1 of $397.31 per MT (81% cash operating margin) from streaming contracts;\nAdjusted net income1 of $35,541, or $0.00 per share; \nOperating cash flow of $1,933,892, or $0.03 per share;\nInvested $11.65 million of upfront payments2 into multi-year streaming contracts, adding 49,755 contracted MT to the Company's future canola sales. These base tonnes have been acquired for an average upfront cost of $234.15 per MT and Input will purchase them in the year they are produced for an average crop payment of $70.18 for a total cost of $304.33 per MT; and \nFinished the quarter with:\n\nCash and cash equivalents of $20,871,197; \nTotal canola interests of $35,753,814 (current portion and long-term portion); \nMulti-year streaming contracts with 20 farm partners, with 179,299 contracted base \nMT of canola remaining to be delivered to the Company over the terms of the streaming contracts, of which 7,810 MT are from the 2013 harvest; \nTotal shareholder's equity of $59,015,803; and \nNo debt.\n\"The first quarter results highlight the strength of our canola marketing program, as we once again achieved strong pricing for our product. We continue to make sales of canola from the 2013 harvest and over the next quarters will shift our focus to the sale of the approximately 38,000 MT we have contracted from the upcoming harvest, which is over double the 18,000 MT we contracted from the 2013 crop,\" said Input President & CEO Doug Emsley. Emsley added, \"With the bought-deal financing that we closed subsequent to quarter-end, we have approximately $60 million that we are getting ready to invest and we have the back-office in place to meet the demand as we market our streaming contracts.\"\n\n_____________________________________1 Please refer to the section titled \"Non-IFRS Measures\" at the end of this release. For further information and a detailed reconciliation, refer to \"Non-IFRS Measures\" ...