Business
Swiss Water Decaffeinated Coffee Income Fund Reports Record Sales and Processing Volumes for 2006, Announces Increase in Per-Unit Distributions
Swiss Water Decaffeinated Coffee Income Fund Reports Record Sales and Processing Volumes for 2006, Announces Increase in Per-Unit Distributions.
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 2006 fourth quarter and year-end results on\n\n\nMarch 13, 2007 at 8:00 am Pacific Time (11:00 am Eastern). The call can\n\n\nbe accessed by dialing: 1-800-731-6941 or 416-644-3427. A replay will be\n\n\navailable through March 27, 2007 at: 1-877-289-8525 or 416-640-1917\n\n\n(Passcode: 21221224 followed by the number sign). The live and archived\n\n\nwebcast can be accessed at:\n\n\nhttp://www.vcall.com/IC/CEPage.asp?ID(equal sign)114549\n\n\nVANCOUVER, March 12 /CNW/ - Swiss Water Decaffeinated Coffee Income Fund\n("the Fund") today reported financial results for the three and twelve months\nended December 31, 2006, which represents its fiscal year-end. The Fund also\nannounced a 5.9% increase in its monthly distribution to unitholders effective\nwith the March 2007 distribution to be paid in mid-April 2007.\n\n\nThe 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(Unaudited)\nIn $000 except per unit amounts 3 months ended Year Ended\n December 31 December 31\n 2006 2005 2006 2005\n ----------------------------------\n\nSales 7,640 7,531 31,353 25,820\nGross Profit 2,921 3,582 12,079 11,250\nEBITDA(1) 1,952 2,720 7,745 7,918\nNet Income 571 2,497 4,606 6,916\nDistributable Cash(1) 1,723 2,805 7,051 7,963\nDistributions paid 1,417 2,173 5,671 8,691\nPer unit amounts:\nNet Income per unit 0.086 0.374 0.690 1.036\nDistributable Cash generated per\n unit(1) 0.258 0.420 1.056 1.193\nDistributions paid per unit(1) 0.212 0.326 0.850 1.302\n\n(1) EBITDA, Distributable Cash, Distributable Cash per unit and Net\n Income per unit are non-GAAP financial measures that are defined in\n the Management's Discussion and Analysis, as posted on SEDAR.\n\n\nIn the three months ended December 31, 2006, SWDCC recorded a modest\nyear-over-year increase in sales and a 24% increase in processing volumes. For\nthe 2006 fiscal year, sales were up by 21% and processing volumes grew by 27%\nover 2005.\n\n\nThe year-over-year sales increase was driven by several factors,\nincluding the processing of an...