Business
TerraVest announces 2013 first quarter results and quarterly dividend
VEGREVILLE, AB, May 13, 2013 /CNW/ - TerraVest Capital Inc. (TSX: TVK ) is pleased to announ...
About this update from Terravest Industries, Inc.
[{"type":"text","content":"\n\n\n\n\n\nVEGREVILLE, AB, May 13, 2013 /CNW/ - TerraVest Capital Inc. (TSX: TVK) is pleased to announce the financial results for the three months\n ended March 31, 2013 and announces a quarterly dividend.\n\n\nAll references to \"TerraVest\" or the \"Corporation\" in this press release\n include TerraVest Capital Inc., the successor to TerraVest Income Fund\n (the \"Fund\") following the conversion of the Fund from an income trust\n to a corporate entity (please see \"Corporate Conversion\" for further\n discussion), together with the Fund and its subsidiaries, as\n applicable, including the operations controlled and consolidated by\n them, unless otherwise indicated.\n\n\nFINANCIAL INFORMATION\n\n\nAll amounts in this news release are stated in thousands of Canadian\n dollars, except per share or per unit data.\n\n\n\n\n\n\n\nFor the three months ended March 31, 2013 TerraVest reported:\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nFINANCIAL PERFORMANCE\n\n\n \n\n\n  Three months ended March 31\n\n\n\n\n \n\n\n \n\n\n  2013\n\n\n \n\n\n2012\n\n\n\n\nRevenue\n\n\n$\n\n\n19,249\n\n\n$\n\n\n20,657\n\n\n\n\nEBITDA (Note 1)\n\n\n \n\n\n        4,303\n\n\n \n\n\n4,377\n\n\n\n\nIncome and comprehensive income for the year\n\n\n \n\n\n2,500\n\n\n \n\n\n2,755\n\n\n\n\nFree cash flow (Note 1)\n\n\n \n\n\n2,257\n\n\n \n\n\n2,967\n\n\n\n\nIncome per Share/Unit, basic and diluted\n\n\n$\n\n\n0.19\n\n\n$\n\n\n0.13\n\n\n\n\nFINANCIAL POSITION\n\n\n \n\n\nMarch 31, \n2013\n\n\n \n\n\nDecember 31,\n2012\n\n\n\n\nWorking capital  (Note 1)\n\n\n$\n\n\n9,833\n\n\n$\n\n\n7,592\n\n\n\n\nProperty, plant and equipment\n\n\n \n\n\n32,707\n\n\n \n\n\n32,885\n\n\n\n\nTotal assets\n\n\n \n\n\n76,290\n\n\n \n\n\n77,283\n\n\n\n\nNon-current portion of long-term debt\n\n\n \n\n\n3,444\n\n\n \n\n\n3,700\n\n\n\n\nShareholders' equity\n\n\n \n\n\n45,808\n\n\n \n\n\n44,402\n\n\n\n\n\n\n\n\n\nNote 1: EBITDA, Free Cash Flow and Working Capital are not defined\n measures under International Financial Reporting Standards (\"IFRS\") and are therefore defined below.  TerraVest's definitions may differ\n from those of other issuers and therefore may not b...