Business
Swiss Water Decaffeinated Coffee Income Fund Reports First Quarter Results
Swiss Water Decaffeinated Coffee Income Fund Reports First Quarter Results.
About this update from Swiss Water Decaffeinated Coffee, Inc.
[{"type":"text","content":"\n\n\n\nTRADING SYMBOL: The Toronto Stock Exchange - SWS.UN\n\n\nSwiss Water Decaffeinated Coffee Income Fund will hold a conference call\n\n\nand webcast to discuss 2007 first quarter results on May 8, 2007 at\n\n\n8:00 am Pacific Time (11:00 am Eastern). The call can be accessed by\n\n\ndialing: 1-866-249-2157 or 416-644-3427. A replay will be available\n\n\nthrough May 22, 2007 at: 1-877-289-8525 or 416-640-1917 (Passcode:\n\n\n21230900, followed by the number sign.) The live and archived webcast can\n\n\nbe accessed at: http://www.vcall.com/IC/CEPage.asp?ID(equal sign)116584\n\n\nor on the Fund's website at www.swisswater.com\n\n\nVANCOUVER, May 7 /CNW/ - Swiss Water Decaffeinated Coffee Income Fund\n("the Fund") today reported financial results for the three months ended March\n31, 2007. The Fund holds all of the outstanding securities of Swiss Water\nDecaffeinated Coffee Company, Inc. ("SWDCC" or "the company") and its results\nare dependent on the operating results of SWDCC.\n\n\nOperating Results\n\n(Unaudited)\n\nIn $000s except per unit amounts 3 months ended\n March 31\n 2007 2006\n -------------------\n\nSales 7,061 9,333\nGross profit 2,954 4,060\nEBITDA(1) 2,011 2,924\nNet income 1,517 2,135\nDistributable cash(1) 1,863 2,756\nDistributions paid 1,418 1,418\nPer unit amounts:\n-----------------\nNet Income per unit 0.227 0.320\nDistributable cash generated per unit(1) 0.279 0.413\nDistributions paid per unit(1) 0.212 0.212\n\n(1) EBITDA, distributable cash and distributable cash per unit are\n non-GAAP financial measures that are defined in the first quarter\n Management's Discussion and Analysis to be posted on SEDAR on or\n before May 7, 2007.\n\n\nIn the three months ended March 31, 2007, SWDCC's sales were down by 24%\nover the first quarter of 2006, when the company experienced a substantial\norder backlog from the fourth quarter of 2005. This backlog was eliminated in\nthe first half of 2006 following the launch of the SWDCC's second production\nline and did not recur in the first quarter of 2007. The first quarter sales\nin 2006 also benefited from significant initial stocking orders for new\nbusiness from two large customers. This business has normalized with order\npatterns now based on consumption and therefore did not repeat in the same\nmagnitude in Q1 2007. As a result of ...